{{short description|Medical device manufacturer}} {{Infobox company | name = Zynex, Inc. | logo = Zynex Medical Tranparent Background.png | logo_caption = | image = | image_caption = | type = Public | traded_as = {{NASDAQ|ZYXI}} | industry = Medical Technology | foundation = 1996 | founder = Thomas Sandgaard | location_city = {{nowrap|Meridian, Colorado, U.S.}} | key_people = | products = Medical devices | production = | services = | revenue = {{increase}} {{US$|158.2 million|link=yes}} (2022)<ref>{{Cite web|url=https://zynexmed.investorroom.com/2023-03-13-Zynex-Announces-2022-Fourth-Quarter-and-Full-Year-Earnings|title = Zynex Announces 2022 Fourth Quarter and Full Year Earnings}}</ref> | net_income = {{increase}} US$17 million (2022)<ref>{{Cite web|url=https://zynexmed.investorroom.com/2023-03-13-Zynex-Announces-2022-Fourth-Quarter-and-Full-Year-Earnings|title = Zynex Announces 2022 Fourth Quarter and Full Year Earnings}}</ref> | owner = | num_employees = {{increase}} 1100 (2023) | subsid = Zynex Medical, Inc.<br>Zynex Neurodiagnostics, Inc.<br>Zynex Monitoring Solutions, Inc.<br>Zynex Billing and Consulting, LLC<br>Zynex Europe ApS. | website = {{URL|zynex.com}} }}
'''Zynex, Inc.''' is a medical device manufacturer that produces and markets electrotherapy devices for use in pain management, physical rehabilitation, neurological diagnosis and cardiac monitoring.<ref name=10k>{{cite web|url=https://www.sec.gov/Archives/edgar/data/846475/000119312513131595/d445043d10k.htm#tx445043_10|title=Form 10-K|publisher=Securities and Exchange Commission|access-date=4 December 2013}}</ref><ref name=denver>{{cite web|url=http://www.bizjournals.com/denver/print-edition/2011/10/14/zynex-a-medical-device-company-finds.html?page=all|title=Zynex, a medical device company, finds its niche|publisher=Denver Business Journal|author=Dana Palmie|date=14 October 2011|access-date=4 December 2013}}</ref><ref name=healthdaily>{{cite news|title=Strategic Sales, Marketing and Distribution Agreement Signed by Zynex, Neurovirtual|date=19 March 2013|publisher=Health Daily Digest}}</ref><ref name=wireless>{{cite news|title=Zynex Posts 2010 Year End Results|date=16 March 2011|publisher=Wireless News}}</ref> Thomas Sandgaard founded Zynex Medical in 1996.<ref name=healthdaily/>
The company is based in unincorporated Douglas County, Colorado.<ref name=denver3>{{cite web|url=http://www.bizjournals.com/denver/news/2012/03/15/zynex-2011-profit-up-on-strong.html|title=Zynex 2011 profit up on strong electrotherapy sales|publisher=Denver Business Journal|date=12 March 2012|access-date=4 December 2013}}</ref> Thomas Sandgaard serves as the company's CEO.<ref name=denver4/>
==History== In 1996, Thomas Sandgaard founded Zynex Medical as a wholesaler of electrotherapy products.<ref name=market1>{{cite news|title=Zynex Inc - Name Change to Zynex, Inc.|date=8 July 2008|publisher=Market News Publishing}}</ref><ref name=wallstreet>{{cite news|title=Zynex Medical, Inc. (ZYNX).|publisher=Wall Street Transcript|date=27 June 2005|volume=168|issue=12|pages=122–125}}</ref> Sandgaard began working with medical devices in his native Denmark and immigrated to the United States with plans to open a medical devices business.<ref name=denver4>{{cite web|url=http://www.bizjournals.com/denver/print-edition/2012/06/29/zynexs-thomas-sandgaard-says.html?page=all|title=Zynex's Thomas Sandgaard says stubbornness serves him well|publisher=Denver Business Journal|date=29 June 2012|access-date=4 December 2013}}</ref> He launched his company in a one-bedroom apartment with $4,000 and a credit card.<ref name=denver/><ref name=denverpost>{{cite news|title=MILE HIGH HOMES|date=8 January 2006|publisher=Denver Post}}</ref> In 1998, the company received its first Food and Drug Administration approval for one of its products, “an electric-stimulation device that managed pain and increased blood circulation to promote healing.”<ref name=denver4/>
The company went public in 2004.<ref name=denver4/> In 2008, the company changed its name from Zynex Medical Holdings to Zynex and began trading on the OTC Bulletin Board under the symbol ZYXI.<ref name=market1/> It relocated from Lone Tree, Colorado to Englewood, Colorado in early 2018.<ref name=denver5>{{cite web|title= Zynex Growth Leads to a New Corporate Headquarters|url=https://www.prnewswire.com/news-releases/zynex-growth-leads-to-a-new-corporate-headquarters-300544689.html|publisher=Cision PR Newswire|date=27 October 2017|access-date=5 February 2018}}</ref>
In February 2010, Zynex restructured its business into three subsidiaries: Zynex Medical, Zynex Monitoring Solutions and Zynex NeuroDiagnostic.<ref name=market2>{{cite news|title=Zynex Corp - Development of Two New Business Units|date=24 February 2010|publisher=Market News Publishing}}</ref><ref name=medical>{{cite news|title=Zynex to form monitoring and NeuroDiagnostic units|publisher=Medical Device Daily|date=26 February 2010|volume=14|issue=38|page=4}}</ref> Zynex Medical manufactures electrotherapy devices for pain management and physical rehabilitation; Zynex Monitoring Solutions manufactures devices for non-invasive cardiac monitoring; and Zynex NeuroDiagnostic manufactures devices for neurological diagnosis.<ref name=10k/><ref name=denver/>
In March 2012, Zynex Medical acquired the assets of NeuroDyne Medical.<ref name=denver2/> NeuroDyne Medical was a Cambridge, Massachusetts-based manufacturer of “medical devices for non-invasive measurement of surface electromyography and autonomic nervous systems.”<ref name=denver2/> NeuroDyne Medical was folded into Zynex's NeuroDiagnostic subsidiary.<ref name=10k/><ref name=denver2>{{cite web|url=http://www.bizjournals.com/denver/news/2012/03/12/zynex-acquires-neurodyne-medical-assets.html|title=Zynex acquires NeuroDyne Medical assets|publisher=Denver Business Journal|access-date=4 December 2013}}</ref>
In February 2019, Zynex Medical began trading on Nasdaq under the symbol ZYXI.<ref>{{Cite web|url=https://www.nasdaq.com/press-release/zynex-to-ring-the-nasdaq-stock-market-opening-bell-to-celebrate-its-listing-20190214-00752|title=Zynex to Ring the Nasdaq Stock Market Opening Bell to Celebrate Its Listing|website=NASDAQ.com|language=en-us|access-date=2019-05-13}}</ref>
In February 2020, Zynex received FDA clearance for their CM-1500 Cardiac Monitor.<ref>{{Cite web|date=2020-06-11|title=Zynex: Deteriorating Fundamentals And Signs Of Reimbursement Pressure (NASDAQ:ZYXI)|url=https://seekingalpha.com/article/4352747-zynex-deteriorating-fundamentals-and-signs-of-reimbursement-pressure|access-date=2020-08-25|website=Seeking Alpha|language=en}}</ref><ref>{{Cite web|date=25 February 2020|title=Zynex Earns FDA Clearance for Blood Volume Monitor|url=https://www.fdanews.com/articles/196005-zynex-earns-fda-clearance-for-blood-volume-monitor|access-date=2020-08-25|website=FDA News|language=en}}</ref>
In December 2025, Zynex filed for Chapter 11 bankruptcy protection in an effort to receive new financing from its lenders.<ref>{{Cite web|url=https://www.prnewswire.com/news-releases/zynex-financial-restructuring-puts-company-on-path-to-long-term-success-302643212.html|title=Zynex Financial Restructuring Puts Company on Path to Long-Term Success|date=2025-12-16|access-date=2026-01-20|website=PR Newswire|language=en}}</ref>
==See also== *Electrotherapy *Physical medicine and rehabilitation *Cardiac monitoring *Class II Medical devices
==External links== *[https://www.zynex.com Official website]
==References== {{Reflist}}
Category:Medical technology companies of the United States Category:Companies listed on the Nasdaq Category:Companies that filed for Chapter 11 bankruptcy in 2025