Zynex, Inc., a provider and developer of non-invasive medical devices for electrotherapy, stroke rehabilitation and neurological diagnosis, has signed a five-year exclusive distribution agreement with DIH Medical Technologies Co Ltd for the distribution of its NeuroMove device in China. Although the agreement can be cancelled upon 60 days' notice by DIH, the minimum purchase requirements over the agreements expected five-year term would equal sales of $4.6 million. The first year's minimum commitment is $750,000.
DIH Medical Technologies is a 20-year old, well established distributor of rehabilitation equipment in China and has a strong presence in stroke rehabilitation. DIH is headquartered in Beijing, China with approximately 300 employees, four regional offices throughout China, 100 direct sales representatives and 88 local distributors.
The NeuroMove, a proprietary stroke rehabilitation device developed by Zynex, enables stroke patients to regain mobility, even several years post-stroke, through neuroplasticity, a method that facilitates relearning in parts of the brain to control and strengthen muscle function. Zynex recently received approval from the Chinese SFDA for its NeuroMove device.
Thomas Sandgaard, Zynex President and CEO stated, "We are very excited to be working with DIH for the Chinese market due to their strong presence in the stroke rehab segment and their proven record of fast growth and market development."
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