Full Press Release Details
zynex8kex991_1062005.txt
FOR IMMEDIATE RELEASE:
ZYNEX MEDICAL ESTABLISHES $400,000 CREDIT FACILITY
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LITTLETON, Colo., Oct. 5, 2005 - Zynex Medical Holdings, Inc. (OTCBB: ZYNX), a
provider of pain management systems and electrotherapy products for medical
patients with functional disability, today announced that it has secured a
$400,000 credit facility with Silicon Valley Bank, the primary operating
subsidiary of Silicon Valley Bancshares (NASDAQ: SIVB). The new credit line will
payoff existing obligations and provide additional capital to expand the
Company's sales, marketing and support efforts related to its standard
electrotherapy products and proprietary NeuroMove(TM) Stroke Recovery System.
"We are pleased to establish this new credit facility and partnership with
Silicon Valley Bank," stated Zynex President and Chief Executive Officer Thomas
Sandgaard. "This facility will enable Zynex to substantially accelerate its
sales and marketing initiatives and the roll-out of our flagship NeuroMove(TM)
stroke recovery product." "Zynex is a rapidly growing Denver-area company
addressing a large market opportunity. We are pleased to play a role in helping
the company meet its objectives and growth plans," said Kevin Grossman, Senior
Relationship Manager of Silicon Valley Bank's Boulder Colorado office.
The NeuroMove(TM) system increases the functionality of many stroke victims by
teaching the healthy parts of the brain to compensate for damaged areas. The
NeuroMove(TM), which is significantly more sensitive than most diagnostic
equipment, monitors muscle activity and selects signals from the brain
indicating that the patient is attempting to move a certain muscle. It then
introduces the actual movement through electrical stimulation. Eventually the
connection between the brain and muscle can often be reestablished. The
NeuroMove(TM) (www.neuromove.com) also can be used to treat spinal cord
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
About Silicon Valley Bank
Silicon Valley Bank provides diversified financial services to emerging growth
and mature companies in the technology, life science and private equity markets,
as well as the premium wine industry. Through its focus on specialized markets
and extensive knowledge of the people and business issues driving them, Silicon
Valley Bank provides a level of service and partnership that measurably impacts
its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif.,
the company serves more than 10,000 clients around the world through 27 domestic
offices and two international subsidiaries in the U.K. and India, and an
extensive network of relationships with venture capitalists in Asia, Australia,
Europe, India, and Israel. More information on the company can be found at
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