Zynex, Inc. (ZYXI) gained in the current market after announcing that they expect no revenue because of the united health care. ZYXI values at $6.73, gaining more than 9% compared to yesterday’s closing price. The stock closed at $6.16 at the end of the last trading session. The stock volume traded in the last trading session was around 342.30K shares. The current market cap of the company is around $274.30 million.
ZYXI do not expect any significant change in revenue
Medical technology business Zynex Inc. (ZYXI) replied to a brief article on United Health Care’s prescription coverage of non-invasive medical devices for pain treatment, rehabilitation, and patient monitoring today. Zynex does not expect the switch in United Health Care prescription coverage to significantly impact revenue.
ZYXI CEO Remarks
Thomas Sandgaard Changes in United Healthcare’s reimbursement scheme are not expected to significantly impact Zynex’s revenue in 2022. In reality, Zynex accepts all prescriptions and processes claims for all insurance providers. Our business strategy requires us to make our goods available to all patients; thus, becoming an out-of-network partner will have little effect on our bottom line. We are glad to offer NextWave a non-addictive pain remedy to our patients. The deal with United Healthcare was terminated mutually.
ZYXI Upcoming Events
Conference call and webcast will be held on February 24th at 2:15 pm MST/4:15 pm EDT to present fourth quarter and full-year 2021 results, as well as offer a corporate update for ZYXI shareholders.
Conclusion
ZYXI gained following the response to the article. The investors are responding positively and investing in its stock. The company will announce its financial results for the fourth quarter and fiscal 2021. The last quarter revenue of the company saw 73% growth, and net income was 358%, both compared to the same quarter of 2020. Investors expect the numbers to be high, just like the last reported quarter.
