CEO, Thomas Sandgaard, commented: “We processed 2,556 patient files for electrotherapy devices in January, which represents a small increase from orders received during December. While this was below our forecast of 2,800 orders, January electrotherapy orders are currently running approximately 150% above what we experienced though the first ten months of 2015. January is typically a slow month in the medical industry due to patient deductible resets, and many of our new reps are still ramping up. Based on our current outlook, we anticipate electrotherapy orders in the range of 2500-3000 patient files per month during the balance of the first quarter.”
Revenue from the placement of a NexWave electrotherapy unit 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.
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.