Michael Hartberger has more than 25 years’ experience with proven leadership in operations, general management and finance roles from start-up support to M&A and divestitures. Prior to joining Zynex, Mr. Hartberger worked in various areas of business operations, including operational strategy and planning, quality systems, organizational development and cultural change. His professional experience spans multiple industries including medical devices, telecommunications, consumer electronics, private equity, retail, manufacturing and managed services. Mr. Hartberger holds a Bachelor of Science degree in Accounting from Clarion University of Pennsylvania and executive studies from Harvard Law, Darden Graduate School of Business, Belmont Graduate School of Business and Sloan School of Management (MIT).
Thomas Sandgaard, CEO, commented: “The landscape in our core market of home electrotherapy devices has significantly changed over the past year and Zynex is quickly becoming a market leader in this segment. In order to take advantage of the rapid growth opportunity, we are pleased Michael Hartberger has joined us as COO. We believe he can guide us on a stable and sustainable growth path, supporting our return to profitability and developing an organization capable of achieving our ambitious revenue objectives.”
“With the exit of our two main industry competitors from the home electrotherapy market during 2015, we are very well positioned to continue to capture market share. We are focused on building a streamlined organization that can eclipse the $40 million in annual revenue we achieved in 2012, and bringing forward initiatives that build upon our leading position in the home electrotherapy market. We believe recent changes provide us an underserved market with revenue potential in excess of $500 million annually,” said Thomas Sandgaard.
Mr. Hartberger was previously with Clarity and Altec Lancing, divisions of Plantronics, Inc. (NYSE:PLT) in the roles of Vice President of Operations, Vice President of Finance/Accounting and Director of Finance, Administration and Operations. Mr. Hartberger also served as an executive officer with Greentree Investment Corporation, in various senior-level positions, with the last being Vice President/General Manager for one of their portfolio companies.
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
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 need to obtain additional capital or augment our liquidity in order to continue our business, the success of our compound pharmacy and international expansion efforts, 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, 2014.