Zynex, Inc. (OTCQB: ZYXI), a provider and developer of non-invasive medical devices for electrotherapy and stroke rehabilitation, neurological diagnostics and cardiac monitoring, announces that it signed a strategic sales, marketing and distribution agreement with California based Advanced Brain Monitoring.
Zynex, through its wholly-owned subsidiary Zynex NeuroDiagnostics Inc., will sell, market and distribute Advanced Brain Monitoring's Sleep Profiler and Apnea Guard® devices, and InsomniCare(SM) service within the United States. Zynex believes that these products help to improve the quality of care available in the sleep diagnostics and therapy markets which approximate several hundred million dollars annually.
Advanced Brain Monitoring's Sleep Profiler device and InsomniCare® service enables hospitals, sleep centers, and clinicians to expand the scope of patient care to address the needs of over 30 million patients suffering from poor sleep quality. Advanced Brain Monitoring's Apnea Guard device helps to reduce the costs of sleep apnea treatment by providing clinicians a low-cost means to identify patients who will benefit before ordering a more expensive custom oral appliance.
Thomas Sandgaard, Zynex President and CEO, commented, "We are very excited to enter this strategic agreement with Advanced Brain Monitoring. Advanced Brain Monitoring's products are cutting-edge technology and represent a key element for Zynex to expand its presence further in the sleep disorder market. We believe the agreement with Advanced Brain Monitoring will provide us with a significant revenue opportunity in our Zynex NeuroDiagnostics subsidiary."
Daniel J. Levendowski, Advanced Brain Monitoring President, stated, "The introduction of new products into the medical marketplace is challenging given the changing landscape of healthcare. We entered into this strategic relationship with Zynex NeuroDiagnostics in large part because the quality of their sales team enables delivery of a sophisticated product explanation to our customers."