Zynex

In 1996, Thomas Sandgaard founded Zynex Medical as a wholesaler of electrotherapy products.[9][10] Sandgaard began working with medical devices in his native Denmark and immigrated to the United States with plans to open a medical devices business.[8] He launched his company in a one-bedroom apartment with $4,000 and a credit card.[4][11] 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.”[8]

The company went public in 2004.[8] 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.[9] It relocated from Lone Tree, Colorado to Englewood, Colorado in early 2018.[12]

In February 2010, Zynex restructured its business into three subsidiaries: Zynex Medical, Zynex Monitoring Solutions and Zynex NeuroDiagnostic.[13][14] 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.[3][4]

In March 2012, Zynex Medical acquired the assets of NeuroDyne Medical.[15] NeuroDyne Medical was a Cambridge, Massachusetts-based manufacturer of “medical devices for non-invasive measurement of surface electromyography and autonomic nervous systems.”[15] NeuroDyne Medical was folded into Zynex's NeuroDiagnostic subsidiary.[3][15]

In February 2019, Zynex Medical began trading on Nasdaq under the symbol ZYXI.[16]

In February 2020, Zynex received FDA clearance for their CM-1500 Cardiac Monitor.[17][18]

• Electrotherapy
• Physical medicine and rehabilitation
• Cardiac monitoring
• Class II Medical devices

• Official website