Full Press Release Details
Continued Growth Leads to a New Manufacturing and Warehouse Facility
CO - October 6, 2020 - 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.
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."
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.
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.
release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation
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.
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.
Amato and Partners, LLC
Investor Relations Counsel