VA Spending on Hospital and Medical Care
Exceeds $112 Billion Annually
ENGLEWOOD, Colo., Dec. 17,
2024 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI)
("Zynex", "ZMS", "we" or the "Company"), an innovative medical
technology company specializing in the manufacture and sale of
noninvasive medical devices for pain management, rehabilitation,
and patient monitoring, today announced a new partnership to
conduct business with Veterans Affairs Medical Centers (VAMCs)
across the United States. This
collaboration reflects Zynex's commitment to improving access to
high-quality care for our nation's veterans.
It is estimated that the VA spends over $112 billion annually on healthcare. This
partnership enables Zynex to bring its advanced pain management
solutions to a critical and growing market, with the VA's system
alone servicing over 9 million enrolled veterans. Currently, less
than 1% of Zynex's sales are from VAMCs and the partnership
provides an opportunity to significantly expand sales into the
largest healthcare network in the U.S.
With 171 VAMCs and over 1,100 outpatient facilities nationwide,
the Department of Veterans Affairs serves millions of veterans
annually. Additionally, there are approximately 700 Military
Treatment Facilities (MTFs) operated by the Department of Defense,
forming an extensive network for addressing the healthcare needs of
service members and their families.
"Our partnership to do business with the VA represents a
significant milestone in expanding access to non-opioid pain
management solutions for those who have served our country," said
Thomas Sandgaard, CEO, Founder, and
Chairman. "Working with the VA provides us with access to the
largest healthcare network in the United
States and we are honored to help enhance the quality of
care for veterans nationwide."
As part of this collaboration, Zynex's sales team will work
closely with healthcare providers within the VA and MTF networks to
deliver its full product suite of innovative, pain management
treatments designed to improve patient outcomes while addressing
the unique pain management needs of these populations.
About Zynex, Inc.
Zynex, founded in 1996, develops, manufactures, 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,
2023 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.
Investor Relations Contact:
Brian Prenoveau, CFA
MZ Group – MZ North America
ZYXI@mzgroup.us
+561 489 5315
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SOURCE Zynex, Inc.
