Zynex

#9307

Rank

$67.41M

Marketcap

United States

Country

Leadership team

Mr. Thomas Sandgaard (Founder, Pres, CEO & Chairman)

Mr. Daniel J. Moorhead (Chief Financial Officer)

Ms. Anna Lucsok (Chief Operating Officer)

Products/ Services

Biotechnology, Electronics, Health Care, Manufacturing, Medical, Medical Device

Number of Employees

500 - 1000

Headquarters

Englewood, Colorado, United States

Established

1996

Company Registration

SEC CIK number: 0000846475

Net Income

20M - 100M

Revenue

100M - 500M

Traded as

ZYXI

Social Media

URL

https://www.zynex.com

Overview

Location

Recognition and Award

References

Summary

Zynex, Inc., through its subsidiaries, designs, manufactures, and markets medical devices to treat chronic and acute pain; and activate and exercise muscles for rehabilitative purposes with electrical stimulation. The company offers NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation (NMES) device that is marketed to physicians and therapists by field sales representatives; NeuroMove, an electromyography triggered electrical stimulation device; InWave, an electrical stimulation product for the treatment of female urinary incontinence; and E-Wave, an NMES device. It also supplies private labeled products, including electrodes for the delivery of electrical current to the body, and batteries for use in electrotherapy products. In addition, the company distributes Comfortrac/Saunders for cervical traction, JetStream for hot/cold therapy, LSO Back Braces for lumbar support, and knee braces for knee support. Further, it offers Zynex Fluid Monitoring System (CM-1500), a fluid volume monitor, which is a non-invasive medical device for monitoring relative fluid volume changes used in operating and recovery rooms to detect fluid loss during surgery and internal bleeding during recovery; Zynex Wireless Fluid Monitoring System (CM-1600), a noninvasive monitoring device designed to measure relative changes in fluid volume in adult patients; NiCO CO-Oximeter, a laser-based noninvasive co-oximeter; and HemeOx tHb Oximeter, a laser-based total hemoglobin pulse oximeter. The company provides its products for use in pain management and control; stroke and spinal cord injury rehabilitation; hemodynamic monitoring; and pulse oximetry monitoring. It sells its products through direct sales force primarily in the United States. Zynex, Inc. was founded in 1996 and is headquartered in Englewood, Colorado.

History

In 1996, Thomas Sandgaard founded Zynex Medical as a wholesaler of electrotherapy products. Sandgaard began working with medical devices in his native Denmark and immigrated to the United States with plans to open a medical devices business. He launched his company in a one-bedroom apartment with $4,000 and a credit card. In 1998, the company received its first Food and Drug Administration approval for one of its products, “an electric-stimulation device that managed pain and increased blood circulation to promote healing.”The company went public in 2004. In 2008, the company changed its name from Zynex Medical Holdings to Zynex and began trading on the OTC Bulletin Board under the symbol ZYXI. It relocated from Lone Tree, Colorado to Englewood, Colorado in early 2018.In February 2010, Zynex restructured its business into three subsidiaries: Zynex Medical, Zynex Monitoring Solutions and Zynex NeuroDiagnostic. Zynex Medical manufactures electrotherapy devices for pain management and physical rehabilitation; Zynex Monitoring Solutions manufactures devices for non-invasive cardiac monitoring; and Zynex NeuroDiagnostic manufactures devices for neurological diagnosis.In March 2012, Zynex Medical acquired the assets of NeuroDyne Medical. NeuroDyne Medical was a Cambridge, Massachusetts-based manufacturer of “medical devices for non-invasive measurement of surface electromyography and autonomic nervous systems.” NeuroDyne Medical was folded into Zynex's NeuroDiagnostic subsidiary.In February 2019, Zynex Medical began trading on Nasdaq under the symbol ZYXI.In February 2020, Zynex received FDA clearance for their CM-1500 Cardiac Monitor.

Mission

Zynex is committed to providing innovative, non-invasive medical technology to help patients improve their quality of life. Our goal is to bring the most effective and convenient treatments to the industry.

Vision

At Zynex, our vision is to make a difference in the lives of patients through our cutting-edge medical technologies. We strive to deliver products and services that are reliable, effective and accessible.

Key Team

Mr. Donald Gregg (VP of Sales and Operations - Monitoring Solutions Division)

Mr. Steve Fox (VP Of Sales)

Ms. Chelle Van Burkleo (VP of Sales)

Mr. Neil Friery (Pres & COO of Zynex Monitoring Solutions, Inc.)

Mr. Joachim Sandgaard (Information Systems Mang.)

Recognition and Awards

Zynex has been continuously recognized for its efforts in providing innovative medical technologies. The company has been awarded the Frost & Sullivan “Product Line Strategy Award” in 2019, the Red Herring Global 100 Award in 2018 and 2017, and the Inno Tribute Awards for Excellence in Innovation in 2017.