Last month, the President declared the opioid epidemic a national emergency. Patients suffering with chronic or debilitation pain are often prescribed opioids as a first line of defense for their pain and the consequences of this are devastating:
- Death rates due to opioid abuse have increased substantially, with nearly 100 Americans dying each day.
- More people in the US die from drug overdoses than car accidents and nearly 2/3 of these were tied to opioid use.
- The US labor force is feeling the impact as well. Almost 50% of the prime-age male labor force are on daily doses of pain medication while at work, negatively impacting worker productivity and increasing the amount companies spend on healthcare.
- Many applying for jobs are unable to pass drug tests, adding to the US labor shortage. In addition, workers are falling out of the job market due to seeking treatment for opioid abuse.
- Opioid abuse has become a $80 billion problem in the US, and this is not isolated to any particular population. This crisis affects men as well as women, of all races, across all socio-economic levels.
Zynex’s Founder and CEO, Thomas Sandgaard commented: “We strongly believe Zynex’s prescription-strength e-stim solution, hot/cold therapy, and spinal bracing lines should be used as the first line of defense rather than medication with so many negative side effects. We know that patients are less likely to start down the path toward reliance on opioids when drug-free options are available to them. Our line of drug-free products can be prescribed by health care practitioners through our exclusive EZ-Prescribe program. This program makes prescribing our products as easy as prescribing oral medications and is available to any practitioner nationwide. Our NexWave device provides prescription strength pain relief without side effects.
“We are focused on increasing access to our drug-free solutions by expanding our sales force presence and increasing awareness of our EZ-Prescribe program to practitioners nationwide, including rural areas. We will be launching more initiatives to raise awareness about our solutions and increase prescription access to our products.”
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 international expansion efforts, our ability to engage additional sales representatives and their success, 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, our ability to up-list to a larger exchange 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, 2016 as well as Forms 10-Q, 8-K and 8-K/A, press releases and the Company’s website.
Investor Relations Contact:
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Investor Relations Counsel
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