LITTLETON, Colo.--(BUSINESS WIRE)-- Zynex, Inc. (OTCBB:ZYXI), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces that it has appointed Mats Wahlström to the Board of Directors of Zynex. Mr. Wahlström currently serves as Senior Advisor to the CEO and Chairman of Fresenius Medical Care, a renal care company. From 2002 through December 2009, Mr. Wahlström was President and CEO of Fresenius Medical Services, which operates more than 1,700 dialysis clinics in the U.S. and served as co-CEO of Fresenius Medical Care North America between 2004 and 2009. Mr. Wahlström has 25 years of experience in the healthcare field. Prior to joining Fresenius Medical Care in 2002, he held various positions at Gambro AB in Sweden, including President and CEO of Gambro U.S. as well as CFO of the Gambro Group. Mr. Wahlström served as a director of Health Grades, Inc., a NASDAQ-listed health care ratings company, from March 2009 through its sale to a private equity firm in October 2010.
Thomas Sandgaard, CEO says: “We are excited about the addition of Mats Wahlström to the Board of Directors. We expect his experience in healthcare and in particular health insurance billing and acquisition of medical technology companies will become very valuable as we continue to execute our growth strategy.”
Zynex, Inc. (founded in 1996) engineers, manufactures, markets and sells its own design of electrotherapy medical devices in two distinct markets: standard digital electrotherapy products for pain relief and pain management; and the NeuroMove(TM) for stroke and spinal cord injury rehabilitation. Zynex's product lines are fully developed, FDA-cleared, commercially sold, and have 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 has also announced the development of two new business units, Zynex Monitoring Solutions and Zynex NeuroDiagnostic.
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 “Risk Factors” section of our 10-K Report for the year ended December 31, 2009.
Thomas Sandgaard, CEO
KEYWORDS: United States North America Colorado
INDUSTRY KEYWORDS: Health Medical Devices General Health