Healthcare Industry News: electrotherapy
News Release - June 25, 2014
Zynex Appoints Director of Business DevelopmentLONE TREE, CO--(Healthcare Sales & Marketing Network) - Zynex, Inc. (OTCQB: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, stroke rehabilitation, neurological diagnostics and compound pharmacy, announced the hiring of Steve Siefring as Director of Business Development. Mr. Seifring will be responsible for driving sales activities in the electrotherapy and compound pharmacy business, reporting to Robert Bird, Vice President of Sales in the US.
Mr. Siefring has over 20 years of healthcare related sales and business development experience, specifically in the electrotherapy market space, with approximately 12 years at Empi, Inc. Mr. Siefring also previously held executive sales positions with MicroAire Surgical Instruments, O'Connell & Associates (orthopedic products) and Genzyme Surgical.
Thomas Sandgaard, CEO of Zynex stated, "We are very excited to have Steve Siefring join our team. Steve's electrotherapy and sales background is truly a great match for us at this time, as he spent approximately 12 years with our biggest competitor, Empi, Inc. Steve will initially focus on expanding our electrotherapy and compound pain cream sales channel."
"We believe our efforts to re-position the company for growth over the past several quarters are beginning to bear fruit, and the addition of Mr. Siefring will be a another catalyst to help us drive opportunities across to this strategically important business segment," concluded Sandgaard.
Mr. Siefring holds a B.S. degree in Marketing from Ohio State University.
Zynex, founded in 1996, operates under five primary business segments: Zynex Medical, NeuroDiagnostics, Monitoring Solutions, International, and Billing and Consulting. Zynex Medical engineers, manufactures, markets and sells its own design of electrotherapy medical devices used for pain management and rehabilitation and the company's proprietary NeuroMove device designed to help recovery of stroke and spinal cord injury patients. Zynex Medical's product lines are fully developed, FDA-cleared and commercially sold world-wide. Zynex Medical also operates a non-sterile compound pharmacy providing topical and transdermal pain creams. Zynex NeuroDiagnostics sells and distributes EMG, EEG, sleep pattern, auditory and nerve conductivity neurological devices. Zynex Monitoring Solutions, currently in the development stage, was established to develop and market medical devices for non-invasive cardiac monitoring. Zynex International is dedicated to supporting sales and marketing of Zynex products worldwide through a network of medical distributors. Zynex Billing and Consulting division provides medical billing and consulting service for offices and hospitals.
For additional information, please visit: www.ir-site.com/zynex.
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 or augment our liquidity in order to continue our business, the success of our compound pharmacy and international expansion efforts, 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 Annual Report on Form 10-K for the year ended December 31, 2013.
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