Health & Fitness
Health and Fitness
Health and Fitness
Mon, January 12, 2009
Zynex Announces Increased Orders in December
LITTLETON, Colo.--([ BUSINESS WIRE ])--Zynex, Inc. (OTCBB:[ ZYXI ]), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces an increase in its orders of 181% for December of 2008 compared to the same month last year.
Thomas Sandgaard, CEO, commented: "December is traditionally our weakest month during the fourth quarter due to the holiday seasonality and we are therefore excited to report our now third-best month of orders in our history."
Zynex received 2,708 orders for December of 2008 of which 112 were orders for devices that Anthem Blue Cross Blue Shield is currently denying payments for. The corresponding numbers for orders were 1,091 and 166 in December of 2007 and were 2,584 and 163 in November 2008. The company plans to discontinue reporting it's monthly orders going forward due in part to competitive reasons.
About Zynex, Inc.
Zynex (founded in 1996) engineers, manufactures, markets and sells its own design of electrotherapy medical devices in two distinct markets: standard digital electrotherapy products for pain relief and pain management; and the NeuroMove(TM) for stroke and spinal cord injury (SCI) rehabilitation. Zynex's product lines are fully developed, FDA-cleared, commercially sold, and have been developed to uphold the Company's mission of improving the quality of life for patients suffering from impaired mobility due to stroke, spinal cord injury, or debilitating and chronic pain.
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 external capital in order to grow our business, 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 for reimbursement, acceptance of our products by hospitals and clinicians, 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 and other risks described in our 10-KSB Report for the year ended December 31, 2007 and our 10-Q Report for the quarter ended September 30, 2008.
