July 8, 2008
Zynex Medical Holdings, Inc. Announces Name Change to Zynex, Inc.
Zynex, Inc. (OTCBB: ZYXI), a provider of pain management systems and electrotherapy products for medical patients with functional disability, announces a name change from its old name of Zynex Medical Holdings, Inc. to the new name of Zynex, Inc., still a Nevada corporation. Zynex's operations continue to be conducted in its wholly owned subsidiary, Zynex Medical, Inc., located in Littleton, Colorado. This new name is effective, for stock trading purposes, on July 8, 2008 and now trades under the symbol ZYXI.
Zynex CEO, Thomas Sandgaard, comments: "We have made this name change to make it less complicated to identify the company name. We recently announced our ambitions to become listed on the American Stock Exchange (AMEX) and are proud to announce that we, with the release of our first quarter results, now also qualify in terms of shareholder equity. We have recently traded over the minimum requirement of $2 per share as also required to satisfy quantitative eligibility standards for such listing. Corporate governance changes will also be needed. The AMEX determines whether a listing is acceptable after the eligibility standards are met."
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 (SCI) 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.
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, 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, our dependence on third party manufacturers to produce our goods on time and to our specifications, the acceptance of our products by hospitals and clinicians, implementation of our sales strategy including a strong direct sales force and other risks described in our 10-KSB Report for the year ended December 31, 2007.