LONE TREE, CO--(Marketwired - Feb 11, 2014) - Zynex, Inc. (OTCQB: ZYXI), a provider and developer of non-invasive medical devices for electrotherapy, stroke rehabilitation and neurological diagnostics announces that it signed a strategic sales and marketing agreement with Total Care Marketing, LLC to sell its primary electrotherapy device, the NexWave, through Total Care Marketing's sales organization.
Total Care Marketing, LLC is a sales and marketing organization with approximately 400 sales representatives that sell pharmaceutical compounded topical pain creams into the US pain management market.
Thomas Sandgaard, Zynex President and CEO commented, "This agreement represents a tremendous step forward for our core electrotherapy business as we will be rolling our NexWave product out to approximately 400 additional sales representatives over the next few months. Total Care Marketing's sales organization is focused on the pain management market and strategically expands our footprint for marketing the NexWave device."
Zynex (founded in 1996), operates under five primary business segments; Zynex Medical, Zynex NeuroDiagnostics, Zynex Monitoring Solutions, Zynex International and Zynex Billing and Consulting. Zynex Medical engineers, manufactures, markets and sells its own design of electrotherapy medical devices for electrotherapy, used for pain management and rehabilitation. Zynex Medical's product lines are fully developed, FDA-cleared and commercially sold world-wide. Zynex NeuroDiagnostics, sells the company's proprietary NeuroMove device designed to help stroke and spinal cord injury patients and is currently expanding into markets for EMG, EEG, sleep pattern, auditory and nerve conductivity neurological diagnosis devices through product development and acquisitions. Zynex Monitoring Solutions, currently in the development stage, was established to develop and market medical devices for non-invasive cardiac monitoring. Zynex International is dedicated to supporting sales and marketing of Zynex products worldwide through a network of medical distributors. Zynex Billing and Consulting division provides medical billing and consulting service for offices and hospitals. For additional information, please visit: www.ir-site.com/zynex.
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 in order to grow our business, 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, 2012.