LONE TREE, Colo., Jan. 12, 2018 /PRNewswire/ -- 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, cardiac monitoring and neurological diagnostics, today announced the appointment of Michael Cress, and Barry Michaels to its Board of Directors and Audit Committee. Barry Michaels will also serve as Audit Committee Chair.
Thomas Sandgaard, Zynex Founder, Chairman and Chief Executive Officer said: "I am very pleased with the appointment of our two new independent board members, their business and healthcare industry experience will provide us the depth and resources required for the company to continue on its growth trajectory as well as complying with the requirements of a senior exchange."
Michael Cress serves as Chairman & Managing Partner of MD Cress Ventures, a national firm that owns, operates and advises companies within the healthcare sector. Michael also serves as Chairman of Rainier Healthcare. Prior to MD Cress Ventures he served as the President and CEO of the Cornerstone Healthcare Group which owns and manages hospitals throughout the country. Mr. Cress also served as Vice President of Business Development for Kindred Healthcare, a publicly traded healthcare company that owns and operates hospitals, nursing homes, rehabilitation, pharmacy and other segments of the healthcare continuum. He served as the CEO of Vencor Hospital of San Diego and was also an Adjunct Professor for the Masters of Healthcare Administration program at the University of Kansas. Mr. Cress serves on several not-for-profit boards to include Rachel's Challenge and co-founded and serves on the board for The Neighborhood. He serves on the boards or advisory boards of several companies to include Linley Capital, BankSNB, Rainier Hospice and Sleep Research.
Barry Michaels has 40 years of financial and general management experience in the medical device and biotechnology industries with industry leaders including Medtronic, Johnson and Johnson, and Baxter Healthcare, as well as having served as President or Chief Financial Officer of seven emerging stage companies. Most recently he served as a consultant to Organovo Holdings, Inc. after retiring therefrom in 2016, where he served as its Chief Financial Officer since 2011. Mr. Michaels received an MBA with a concentration in finance from San Diego State University and is a graduate of the Executive Program at the UCLA Anderson Graduate School of Management.
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 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 our ability to up-list to a larger exchange 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, 2016 as well as Forms 10-Q, 8-K and 8-K/A, press releases and the Company's website.
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