LONE TREE, Colo., June 17, 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 that ColoradoBiz Magazine has recognized Zynex in Top100 Public Companies in its May 2016 issue.
Zynex was ranked as number 93 based on 2015 revenue of $11.6 million and was the year before listed as number 87 based on $11.1 million in revenue. Zynex has previously estimated 2016 revenue to come in above $16 million and is currently facing cash constraints that limit production and order growth. Orders have more than doubled since the beginning of the year after the closure of the largest competitor in the electrotherapy industry.
For over 43 years, state officials, company executives and business professionals have looked to ColoradoBiz as the statewide voice of our business community. We are committed not only to highlighting the people, products, and companies that drive the economic future of our state, but helping Colorado businesses connect with each other and market themselves more effectively.
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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