LONE TREE, Colo., December 16, 2015 — Zynex (OTCQB: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, stroke rehabilitation, neurodiagnostic equipment, cardiac and blood volume monitoring, announced today an interim update on business developments for the electrotherapy product line.
CEO, Thomas Sandgaard, said: “In early December we forecasted electrotherapy orders for December of 1,500, and we have already reached 1,195 orders as of the end of business yesterday. Based on yesterday’s number we now estimate December to come in above 2,000 orders. That would put us at a run rate of 100% higher than the first nine months of 2015 and 60% higher than November orders. We see reimbursement per patient file continue to increase due to improvements in billing personnel and processes. We are working diligently with our lender and vendors, and developing additional financing options to support the expected growth in the year ahead.
We expect significant growth during 2016 and look forward to updating shareholders and market participants on our progress. Our longer term goal is to list on a more prominent stock exchange such as Nasdaq or NYSE.”
About Zynex
Zynex, founded in 1996, markets and sells its own design of electrotherapy medical devices used for pain management and rehabilitation; and the company’s proprietary NeuroMove device designed to help recovery of stroke and spinal cord injury patients. Zynex is also developing a new blood volume monitor for use in hospitals and surgery centers. For additional information, please visit: Zynex.com.
Safe Harbor Statement
Certain statements in this release are “forward-looking” and as such are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the need to obtain additional capital or augment our liquidity in order to continue our business, the success of our compound pharmacy and international expansion efforts, our ability to engage additional sales representatives, the success of such additional sales representatives, the need to obtain FDA clearance and CE marking of new products, the acceptance of new products as well as existing products by doctors and hospitals, larger competitors with greater financial resources, the need to keep pace with technological changes, our dependence on the reimbursement from insurance companies for products sold or rented to our customers, acceptance of our products by health insurance providers, our dependence on third party manufacturers to produce our goods on time and to our specifications, implementation of our sales strategy including a strong direct sales force, the uncertain outcome of pending material litigation and other risks described in our filings with the Securities and Exchange Commission including the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2014.
Contact:
Zynex, Inc.
(303) 703-4906
SOURCE Zynex
