• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Zynex Medical Signs Contract With Aetna; Expanding Out of Network Coverage for Company's Products

Posted on: Thursday, 28 July 2005, 15:01 CDT

Zynex Medical Holdings, Inc. (OTCBB: ZYNX), a provider of pain management systems and electrotherapy products for medical patients with functional disability, today announced that its Zynex Medical, Inc., subsidiary has signed a contract with healthcare provider Aetna, Inc. (NYSE: AET).

"Aetna subscribers in the state of Colorado now can receive coverage for Zynex products," stated President and Chief Executive Officer Thomas Sandgaard. "The contract also enables Zynex to have a closer relationship with Aetna, one of the nation's largest provider of health insurance."

Mr. Sandgaard noted that Zynex is reimbursed by healthcare providers, including Aetna, for the Company's products in every state in the nation. The contract with Aetna further broadens the potential user base for Zynex products, and comes at a time when Zynex is expanding its sales and marketing capabilities.

Zynex also has contracts with other major healthcare providers, including Anthem Blue Cross and Blue Shield throughout the US to provide coverage for Zynex Products.

About Zynex

Zynex Medical Holdings, Inc., (www.zynexmed.com), a leading provider of therapeutic devices for patients with functional disability through the creation, distribution, and marketing of electrotherapy devices since 1996, strives to uphold its mission to improve the quality of life of patients suffering from debilitating pain or illness by providing innovative technology. Utilizing a unique combination of electromyographic (EMG) technology combined with a system of instruction and reinforcement, including electrical muscle stimulation (EMS), Zynex offers new treatment options to post-stroke and spinal injury patients.

Safe Harbor Provision

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 Company's ability to meet terms and conditions required to obtain project financing, risks and delays associated with product development, risk of market acceptance of new products, technology or product obsolescence, competitive risks, reliance on development partners and additional capital needs. For more discussion of important risk factors that may affect Zynex, please see the risk factors contained in Zynex's 2004 Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Source: Business Wire

More News in this Category