ENGLEWOOD, Colo., Nov. 19,
2020 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI),
an innovative medical technology company specializing in the
manufacture and sale of non-invasive medical devices for pain
management, stroke rehabilitation, cardiac monitoring and
neurological diagnostics today announced it has been ranked 13th in
revenue growth among all medical device companies in the U.S. and
Canada on Deloitte's 2020
Technology Fast 500. Zynex was ranked 388th for revenue
growth between 2016 and 2019 across all companies in North
America. Zynex's revenues grew 242% over that period, with
2019 revenue reaching $45.5
million. The company estimates 2020 revenue between
$80.0 and $81.0 million. The 2020 Deloitte Technology Fast
500 list can be found at www.fast500.com.
"It is an honor to be recognized for the second year in a row by
Deloitte's 2020 Technology Fast 500 for revenue growth," said
Thomas Sangaard, CEO and founder of Zynex Inc. "This award
truly reflects the strong commitment of our Zynex team and gives me
an opportunity to thank everyone here for their dedication and hard
work. We appreciate this award and look forward to continued
revenue growth in the years ahead."
About Deloitte's 2020 Technology Fast 500™
Now in its
26th year, Deloitte's Technology Fast 500 provides a ranking of the
fastest-growing technology, media, telecommunications, life
sciences, and energy tech companies—both public and private—in
North America. Technology Fast 500
award winners are selected based on percentage fiscal year revenue
growth from 2016 to 2019.
In order to be eligible for Technology Fast 500 recognition,
companies must own proprietary intellectual property or technology
that is sold to customers in products that contribute to a
majority of the company's operating revenues. Companies must have
base-year operating revenues of at least $50,000, and current-year operating revenues of
at least $5 million. Additionally,
companies must be in business for a minimum of four years and be
headquartered within North
America.
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