No, it is not an inaccurate statement. Rife used electromagnetic waves. This is an undisputable fact.
Light is just a fancy name for electromagnetism. Light IS electromagnetism. And electrmagnetism itself is closely associated with its two components, electricity and magnetism. So yes, there would likely be indirect magnetic fields and electric fields involved, but these were unlikely to have any substantial effect. Electromagnetism was still the key component. Anything else was just an after-effect, icing on the cake.