Healthcare Industry News: electrotherapy
News Release - July 21, 2014
Zynex Announces Brian Alleman as Chief Financial OfficerLONE 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 today the appointment of Brian Alleman as its new chief financial officer.
Mr. Alleman has over 25 years of experience serving both public and private companies in the role of CEO, COO and CFO. He most recently served as managing director at Alleman & Associates, a strategic business advisory firm which provides leadership at the executive level for companies in transitional periods. Mr. Alleman has served on five public company boards throughout his career and has years of experience assisting companies with corporate turnarounds, capital raising, strategic planning, business development, finance, investor relations and other strategic business issues.
Thomas Sandgaard, CEO of Zynex, stated, "We are very excited to welcome Brian Alleman as our new chief financial officer at Zynex. Mr. Alleman is a seasoned professional, with a successful track record assisting emerging growth companies, and providing leadership during transitional periods. We believe Brian will be a great asset for us as we re-position our company for growth."
On June 17, 2014, Anthony Scalese, serving CFO of Zynex, informed the Company of his intent to resign effective on July 6, 2014. Mr. Scalese continues to provide transition services to the Company as needed on a consulting basis, following his departure. Mr. Scalese resigned to pursue other opportunities, and his resignation is not due to a disagreement with the Company with respect to any matter relating to the Company's operations, policies or practices.
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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