Zynex, Inc. (OTCBB:ZYXI), a provider and developer of non-invasive medical devices for electrotherapy and stroke rehabilitation, neurological diagnosis and cardiac monitoring, announced that it has been ranked 127th on Deloitte’s 2011 Technology Fast 500 list for revenue growth between 2006 and 2010. The same list categorizes companies into various industries and Zynex was ranked 9th in growth among all medical equipment companies in the U.S. and Canada. The list also indicates that Zynex is the fastest growing medical equipment company in the Rocky Mountain region (for two years in a row), as well as 2nd fastest growing company in Colorado among all technology companies. The Deloitte Technology Fast 500 list can be found at www.fast500.com.
Zynex’s revenue grew 842% from the period of 2006 to 2010, with revenue in 2010 of $24,085,000.
About The Deloitte Technology Fast 500™
Each year companies innovate, overcome obstacles and systematically defy the odds. The Technology Fast 500 program recognizes these efforts in its annual ranking of the 500 fastest-growing technology companies in the United States and Canada. The program is based on percentage revenue growth from 2006 to 2010 and recognizes all areas of technology and includes both public and private companies.
Zynex, Inc. (founded in 1996), operates under three primary business segments; Zynex Medical, Zynex NeuroDiagnostics and Zynex Monitoring Solutions. Zynex Medical engineers, manufactures, markets and sells its own design of electrotherapy medical devices for standard digital electrotherapy, used for pain relief, pain management and stroke and spinal cord injury rehabilitation. Zynex Medical’s product lines are fully developed, FDA-cleared, commercially sold, and have been developed to uphold the Company’s mission of improving the quality of life for patients suffering from impaired mobility due to stroke, spinal cord injury, or debilitating and chronic pain. Zynex NeuroDiagnostics, currently in the development stage, has been established to market EMG, EEG, sleep pattern, auditory and nerve conductivity neurological diagnosis devices through product development or acquisitions. Zynex Monitoring Solutions, currently in the development stage, has been established to develop and market medical devices for non-invasive cardiac monitoring. For additional information please visit: http://zynex.local.
Safe Harbor Statement
Certain statements in this release are “forward-looking” and as such are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the inability to agree on final transaction terms with NeuroDyne, the need to obtain additional capital in order to grow our business, our ability to engage additional sales representatives, the success of such additional sales representatives, the need to obtain FDA clearance and 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 from insurance companies for products sold or rented to our customers, acceptance of our products by health insurance providers, 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 uncertain outcome of pending material litigation and other risks described in our filings with the Securities and Exchange Commission including the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2010.
Anthony Scalese, CFO, 303-703-4906