ENGLEWOOD, Colo., Nov. 14, 2019 /PRNewswire/ -- Zynex, Inc. (NASDAQ: 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 it has been ranked 18th in revenue growth among all medical device companies in the U.S. and Canada on Deloitte's 2019 Technology Fast 500. Zynex was ranked 488th for revenue growth between 2015 and 2018 across all companies in North America. Zynex's revenues grew 174% over that period, with 2018 revenue reaching $31.9 million. The company estimates 2019 revenue between $43.6 and $44.1 million. The 2019 Deloitte Technology Fast 500 list can be found at www.fast500.com.
"It is an honor to be recognized this year by Deloitte's 2019 Technology Fast 500 for revenue growth," said Thomas Sangaard, CEO and founder of Zynex Inc. "This award truly reflects the strong commitment of our Zynex team and gives me an opportunity to thank everyone here for their dedication and hard work. We appreciate this award and look forward to continued revenue growth in the years ahead."
About Deloitte's 2019 Technology Fast 500™
Now in its 25th year, Deloitte's Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, and energy tech companies—both public and private—in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2015 to 2018.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000, and current-year operating revenues of at least $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
ABOUT ZYNEX
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" or projections and as such are subject to numerous risks and uncertainties. The company makes no express or implied representation or warranty as to the completeness of this information or, in the case of projections, as to their attainability or the accuracy and completeness of the assumptions from which they are derived. 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 for our products from health insurance companies, 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 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, 2018 as well as Forms 10-Q, 8-K and 8-K/A, press releases and the Company's website.
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SOURCE Zynex
