Zynex expects no material change in revenue from prescription coverage change United Health Care
ENGLEWOOD, Colo., February 18, 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 responded to a brief report relating to United Health Care’s prescription coverage for its products.
“We do not expect Zynex to experience material changes in revenue through 2022 due to changes in United Healthcare’s reimbursement program,” said Thomas Sandgard, CEO. “In fact, most of Zynex’s commercial insurance is backed by out-of-network coverage, and we accept all prescriptions and process claims through all insurance companies. Making our products accessible to every patient is a essential part of our business model, and the impact of UHC becoming an out-of-network partner will be minimal on our bottom line. We are pleased to continue to provide our patients with an effective, non-addictive pain solution through the device. NexWave. The decision to terminate the contract with United Healthcare was a mutual one.”
As a reminder, Zynex management will host a conference call and webcast at 2:15 PM MT / 4:15 p.m. ET to February 24and to report fourth quarter and full year 2021 results and provide a business update.
Webcast Details: Thursday, February 24, 2022 at 2:15 p.m. MT / 4:15 p.m. ET
To register and participate in the webcast, interested parties should click on the following link or dial the number approximately 10-15 minutes before the webcast: https://www.webcaster4.com/Webcast/Page/1487/44417
Telephone number for participants in the United States (TOLL-FREE): 1-844-825-9790
Telephone number for international participants: 1-412-317-5170
Telephone number for participants in Canada (TOLL FREE): 1-855-669-9657
About Zynex, Inc.
Zynex, founded in 1996, markets and sells its own design of electrotherapy medical devices used for pain management and rehabilitation, as well as the development of non-invasive monitoring systems for patient fluids, sepsis and blood pressure. laser-based pulse oximetry for use in hospitals. For more 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 United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements are neither historical facts nor guarantees of future performance. Instead, they are based solely 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 beyond our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Accordingly, you should not rely on any such forward-looking statements. The Company makes no express or implied representations or warranties as to the completeness of any forward-looking statements or, in the case of projections, as to their accessibility or the accuracy and completeness of the assumptions from which they are derived. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the need to obtain CE marking for new products, acceptance of new products as well as existing products by doctors and hospitals, larger competitors with greater financial resources, the need to support technological developments, our dependence on the reimbursement of our products by mutual insurance companies, our dependence on third-party manufacturers to manufacture our products on schedule and to our specifications, the execution of our business 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 we make in this release is based solely on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update publicly any forward-looking statements, written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Contact: Zynex, Inc. (800) 495-6670
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