Zynex (OTC:ZYXI) obtained marketing clearance in Russia for both its NeuroMove and NexWave devices.
The NexWave electrotherapy device delivers 3 types of stimulation to provide pain and muscle rehabilitation therapy. The device was cleared in the U.S. in 2011.
The NeuroMove device helps rehabilitate stroke victims by teaching healthy parts of the brain to compensate for damaged areas. It can also be used to treat spinal cord patients, according to the press release.
NeuroMove landed a 5-year distribution deal with DIH Medical Technologies in China, after receiving Chinese approval in Oct. 2013. The deal calls for a minimum purchase commitment of $750,000 in the 1st year and $4.6 million in sales over the length of the contract.
