LONE TREE, Colo., June 1, 2016 /PRNewswire/ -- Zynex (OTCQB: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, stroke rehabilitation, neurodiagnostic equipment, cardiac and blood volume monitoring, announces today the hire of Rick Luckenbill as Vice President of Finance. Paul Oberman, interim CFO consultant since October 2015 will still be available for the Company on an as-needed basis.
Mr. Luckenbill has more than 20 years' experience in multiple industries with proven leadership in finance, accounting and system integration roles. Mr. Luckenbill's work experience includes debt restructure, cash flow optimization, profitability improvement and system integration. Prior to joining Zynex, Mr. Luckenbill, during 2015 and 2016, served as Chief Financial Officer / Vice President of Finance with CPP, Inc., an engineering consulting business in Fort Collins, CO. Previously, Mr. Luckenbill served in various accounting roles with Medtronic, Inc. (2013-2015), Thermo Fisher Scientific, Inc (2009-2011), Omnitrax, Inc (2009) and Motorola, Inc. (1996-2009) and as director of systems integration with Motorola Solutions, Inc. (2011-2013). Mr. Luckenbill holds an MBA, Finance from the Keller Graduate School of Management of DeVry University, Scottsdale, AZ and a BS, Finance/Organizational Development, Elmhurst College, Elmhurst, IL.
Thomas Sandgaard, CEO, commented: "I am excited to have added Rick Luckenbill to the organization as our permanent leader of our accounting and finance functions. Rick's experience in the high-tech and medical device industries is a great asset as well as his experience with both large and smaller organizations. The landscape in our core market of home electrotherapy devices has significantly changed over the past year and Zynex is quickly becoming a market leader in this segment growing fast towards the levels we experienced in 2012 and beyond."
Zynex, founded in 1996, 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 is also developing a new blood volume monitor for use in hospitals and surgery centers. For additional information, please visit: Zynex.com.
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, 2015.
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