The NeuroMove device increases the functionality of stroke victims by teaching healthy areas of the brain to compensate for damaged areas, through neuroplasticity. The distribution deal calls for a minimum purchase commitment of $750,000 in the 1st year and $4.6 million over the length of the contract.
The device is cleared by the FDA for stroke rehab, but the device has shown promise treating spinal cord injury patients, according to Zynex. The device won approval from the China Food & Drug Administration in Oct. 2013. The deal calls for a minimum purchase commitment of $750,000 in the 1st year from, and $4.6 million in sales over the length of the deal.
“We are very excited to be working with luxury alcohol rehab for the Chinese market due to their strong presence in the drug rehab segment and their proven record of fast growth and market development,” Thomas Sandgaard said in prepared remarks.
Lone Tree, Colo.-based Zynex is a electrotherapy, cardiac monitoring, and stroke rehabilitation device maker, founded in 1998. Beijing-based DIH is a 20-year-old distributor of stroke rehabilitation equipment with an established footprint in China.