Zynex, Inc. (NASDAQ: ZYXI) found its shares slowly rising Wednesday, as the firm, an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, rehabilitation, and patient monitoring, announced the addition of three new therapy products centered around pain management. The new products include Zynex Pro Thoracic Lumbar Sacral Orthosis, a dual-purpose back brace for the mid and lower spine; Zynex Pro Wrist, a wrist brace for a broad spectrum of wrist-related pain management including carpal tunnel syndrome; and Zynex Cryoheat, a localized cold or hot fluid therapy system for home or hospital use.
CEO Thomas Sandgaard explains, “As we continue to build out our sales force in pain management, we are continually looking to add to our product suite in complementary ways. Combining these products with our industry-leading prescription strength pain management device, the NexWave builds upon our holistic, non-invasive approach to pain management.”
Last quarter, which ended with July, found the company earned nine cents a share, which beat projections by a nickel, on revenue of $44.95 million, narrowly beating projections.
Zynex, based in Englewood, Colorado and founded in 1996, develops, manufactures, markets, and sells medical devices used for pain management and rehabilitation as well as non-invasive fluid, sepsis, and laser-based pulse oximetry monitoring systems for use in hospitals.
ZYXI shares claimed 21 cents, or 2.7%, Wednesday to $7.97.