Thomas Sandgaard, Founder and CEO of Zynex said: “May orders came in at 2,365, more than 2.5 times the amount of orders we received in May of last year, however a decline of 7% compared to orders of 2,556 in April 2016. Our biggest obstacle for increasing orders right now is limited liquidity that impacts our ability to manufacture enough products to fill the growth in patient and sales rep demo orders. Once we get past that hurdle, the many new sales reps we added a few months ago will be able to demonstrate our NexWave device to their book of existing accounts and grow orders even more. In June of last year we received 930 orders and we expect come in two to three times that level in this coming month.”
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, 2015.
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