ENGLEWOOD, Colo., Oct. 6, 2020 /PRNewswire/ -- Zynex, Inc. (NASDAQ:
ZYXI), an innovative medical technology company specializing in
manufacturing and selling non-invasive medical devices for pain
management, stroke rehabilitation, cardiac monitoring and
neurological diagnostics, today announced the lease of a new 50,488
square foot warehouse facility for its growing manufacturing and
inventory requirements.
Thomas Sandgaard, CEO of Zynex
said: "With order growth of 84% in 2019, 76% in the first half of
2020 net of the COVID-19 slowdown and our forecast for the
remainder of 2020 and beyond, we have outgrown our current
facilities for inventory and manufacturing. The new facility is
less than four miles from our headquarters and fits well into our
growth plans for 2020 and future years. Moving our inventory and
manufacturing functions from our corporate headquarters will also
give us much needed room for our growing reimbursement, sales
support and other G&A functions. We expect to occupy the space
in the next 60-90 days."
The new building will expand our inventory capacity by three to
five times compared to our current facility. The lease has a term
of sixty-five months and commences on the earlier of the
substantial completion of tenant improvements or January 15, 2021. An 8-K has been filed with the
details of the lease arrangements.
About Zynex
Zynex, founded in 1996, markets and sells its own design of
electrotherapy medical devices used for pain management and
rehabilitation; and the Company's proprietary NeuroMove device
designed to help recovery of stroke and spinal cord injury
patients. Zynex is also developing a new blood volume monitor for
use in hospitals and surgery centers. For additional
information, please visit: Zynex.com.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
forecasts, anticipated events and trends, the economy and other
future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict
and many of which are outside of our control. Our actual results
and financial condition may differ materially from those indicated
in the forward-looking statements. Therefore you should not rely on
any of these forward looking statements. The Company makes no
express or implied representation or warranty as to the
completeness of forward looking statements or, in the case of
projections, as to their attainability or the accuracy and
completeness of the assumptions from which they are derived.
Factors that could cause actual results to materially differ from
forward-looking statements include, but are not limited to, the
need to obtain CE marking of new products, the acceptance of new
products as well as existing products by doctors and hospitals,
larger competitors with greater financial resources, the need to
keep pace with technological changes, our dependence on the
reimbursement for our products from health insurance companies, our
dependence on third party manufacturers to produce our goods on
time and to our specifications, implementation of our sales
strategy including a strong direct sales force, the impact of
COVID-19 on the global economy and other risks described in our
filings with the Securities and Exchange Commission including but
not limited to our Annual Report on Form 10-K for the year
ended December 31, 2019 as well as our quarterly reports
on Form 10-Q and current reports on Form 8-K.
Any forward-looking statement made by us in this release is
based only on information currently available to us and speaks only
as of the date on which it is made. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Contact:
Zynex, Inc.
(800) 495-6670
Investor Relations Contact:
Amato and Partners, LLC
Investor Relations Counsel
admin@amatoandpartners.com
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SOURCE Zynex