LONE TREE, Colo., January 5, 2016 — 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 December orders for the electrotherapy product line.
CEO, Thomas Sandgaard, commented: “We previously increased our December forecast for electrotherapy orders mid-month to come in above 2,000 patient files. The actual number was 2,530 patient files; significantly higher than our mid-December estimate. We experienced stronger than expected orders during the holidays which we view as a high demand for Zynex products, primarily the NexWave combination IFC, TENS and NMES, our flagship electrotherapy device.
Electrotherapy orders during the first ten months of 2015 averaged 1,000 patient files per month. Naturally, we are quite pleased to see new patient files more than double in the December period, as this will increase our recurring revenue stream in coming quarters from the ongoing sale of replacement electrodes and batteries. Revenue from the placement of a NexWave device is normally derived over time from monthly billings for the sale or rental, and from monthly supplies during the treatment period after the initial patient order.
The new sales reps we hired during the last week of November through December all have an existing book of business and their accounts are receiving the NexWave device very well. Based on current demand, we are forecasting January electrotherapy orders to come in above 2,800 patient files.
Reimbursement per patient file continued to increase during the month of December from previous record highs, and remains at a healthy level in light of our reduced cost structure. We are continuing to work diligently on additional financing options to support our expected growth during the year ahead.”
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
