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Zynex Strengthens Management Team; Adds Regulatory Compliance Expert

^{Published on 2010-12-29 05:05:47 - Market Wire}
 

LONE TREE, Colo.--([ BUSINESS WIRE ])--Zynex, Inc. (OTCBB: [ ZYXI ]), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announced the hiring of David Empey as Director of Regulatory Compliance. Mr. Empey will start on January 3, 2011 and will report directly to Thomas Sandgaard, Chief Executive Officer.

Mr. Empey has over 25 years of healthcare-related experience and possesses an in-depth knowledge of complex healthcare regulations and guidelines. He most recently served as Vice President of Operations and Compliance for Premier Medical Corporation and has held previous senior level positions with Homecare USA, Porter Affiliated Health Services, Porter Memorial Hospital and the Joint Commission on the Accreditation of Healthcare Organizations (JCAHO).

Thomas Sandgaard, CEO stated, aWe believe David Empey brings a tremendous amount of industry experience that will strengthen our management team and help us better navigate the complex regulatory environment. We also believe David will be particularly valuable in guiding our efforts to obtain additional state and federal licenses, and Food and Drug Administration (FDA) approvals, which are being pursued as part of our growth initiatives.a

Mr. Empey holds a B.S. degree in Business Administration from the University of Phoenix, an M.B.A. from the University of Denver and is a registered respiratory therapist.

About Zynex

Zynex, Inc. (founded in 1996) engineers, manufactures, markets and sells its own design of medical devices in three subsidiaries. Zynex Medical is a provider of electrotherapy products for home use, Zynex Monitoring Solutions develops products for cardiac monitoring for use in hospitals and Zynex NeuroDiagnostic develops devices for EMG and EEG diagnostic purposes in the neurology clinic markets. Zynex Medical's product line is fully developed, FDA-cleared, commercially sold, and has been developed to uphold the Company's mission of improving the quality of life for patients suffering from impaired mobility due to stroke, spinal cord injury, or debilitating and chronic pain. Zynex Monitoring Solutions and Zynex NeuroDiagnostic are currently both in the development stages without any significant revenues. For additional information please visit: [ http://www.ir-site.com/zynex/default.asp ].

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 in order to grow our business, 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 aRisk Factorsa section of our Annual Report on Form 10-K for the year ended December 31, 2009.