US-based medical device company Zynex and China-based DIH Medical Technologies have signed a five-year exclusive distribution agreement to distribute Zynex’s NeuroMove device in China, beginning 17 December 2013.
According to Zynex, the minimum purchase requirements over the agreements expected five-year term would equal sales of $4.6m. Minimum commitment for the first year is $750,000.
The distribution agreement can be cancelled upon 60 days’ notice by DIH Medical Technologies.
NeuroMove is a proprietary stroke rehabilitation device developed by Zynex. The stroke rehabilitation device enables stroke patients to regain mobility, even several years post-stroke, through neuroplasticity.
Neuroplasticity is a method that facilitates relearning in parts of the brain to control and strengthen muscle function.
Zynex president and CEO Thomas Sandgaard said: "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."
Recently, Zynex obtained approval from China’s State Food and Drug Administration for its NeuroMove device.
Image: Zynex’s NeuroMove device for heart stroke patients Photo: Courtesy of PRWeb