Zynex Adds Knee Bracing to Its Pain Management Division
Zynex, a medical technology company, announced the addition of post-operative and osteoarthritis knee braces to its product line, enhancing its offerings in pain and rehabilitation. With over 10.4 million knee injuries annually, these braces can reduce pain and improve mobility for patients. The company aims to diversify its revenue and has begun training its nationwide sales force on these new products, which are commonly reimbursed by health insurers. CEO Thomas Sandgaard expressed optimism for the expansion, indicating a strategic focus on orthopedic solutions.
- Expansion into knee braces targets a large market of over 10.4 million annual knee injuries.
- Products are commonly reimbursed by health insurance, improving accessibility for patients.
- Diversifies revenue streams, aligning with Zynex's strategy for growth.
- Well-recognized among prescribers in the orthopedic sector, enhancing market entry.
- None.
ENGLEWOOD, Colo., Jan. 20, 2022 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, rehabilitation, and patient monitoring, today announced it is adding post-operative and OA (Osteoarthritis) knee braces to its line of pain and rehabilitation products.
Knees are the most commonly injured body part, accounting for more than 10.4 million knee injury patients annually. Additionally, knee problems account for over 19 million medical visits each year, making it the most common reason to see an orthopedic surgeon. Osteoarthritis (OA) is often caused by joint inflammation and results in degeneration of joint cartilage. Family history, lifelong usage, obesity, or fractures can contribute to this significant medical ailment. Knee braces can limit the wear and tear on the affected joint, enabling inflammation to settle and reducing pain/degeneration of the affected knee joint and thereby delaying or minimizing the need for surgery. Braces are proven to relieve pain and increase mobility, even in those with moderate to severe ligament injuries and OA.
Post-operative knee braces are typically used after orthopedic surgeries such as tendon or meniscus repairs, ACL/PCL/MCL, or fixing fractures of the knee.
"We are now introducing and training these products to our nationwide sales force. Knee braces are well known among our prescribers, especially in the orthopedic area and also commonly reimbursed by health insurance companies," said Thomas Sandgaard, Founder, Chairman and CEO of Zynex. "I am excited to be adding more products to what we are offering to our existing prescribers and sales call points as we continue to diversify our revenue streams."
About Zynex, Inc.
Zynex, founded in 1996, develops, manufacturers, markets and sells medical devices used for pain management and rehabilitation as well as non-invasive fluid, sepsis and laser-based pulse oximetry monitoring systems for use in hospitals. For additional information, please visit: www.zynex.com.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore you should not rely on any of these forward looking statements. The Company makes no express or implied representation or warranty as to the completeness of forward-looking statements or, in the case of projections, as to their attainability or the accuracy and completeness of the assumptions from which they are derived. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the need to obtain 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 for our products from health insurance companies, our dependence on third party manufacturers to produce our products on time and to our specifications, implementation of our sales strategy including a strong direct sales force, the impact of COVID-19 on the global economy and other risks described in our filings with the Securities and Exchange Commission including but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2020 as well as our quarterly reports on Form 10-Q and current reports on Form 8-K.
Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Contact: Zynex (800) 495-6670
Investor Relations Contact:
Gilmartin Group
Investor Relations Counsel
ir@zynex.com
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SOURCE Zynex
FAQ
What new products has Zynex added to its portfolio as of January 2022?
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