Zynex Pays Off Loan Balance

                         Zynex Pays Off Loan Balance

PR Newswire

LONE TREE, Colo., July 6, 2017

LONE TREE, Colo., July 6, 2017 /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 it has paid off the entire remaining loan balance to Triumph
Healthcare Finance.

Zynex

Thomas Sandgaard, CEO commented: "We owed Triumph $2.2 million at the end of
the first quarter and improvements in our billing and collection efforts have
enabled us to pay off the loan balance entirely during the second quarter.
This is a huge win for the company, as we defaulted on this agreement in 2014
and have been in a forbearance agreement since then which has been a huge
constraint on our operating flexibility. All of the funds used to pay off the
loan were a result of cash generated from the operations of the company. Our
orders were up 7% in the second quarter compared to the first quarter. As a
result of the improved operating performance, we now estimate our second
quarter results will exceed our previous estimate. We are in the process of
closing our second quarter books and will provide as update as soon as the
results are available."

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" 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 international expansion efforts, our ability to engage
additional sales representatives and their success, 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, 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.

Contact:
Zynex, Inc.
(303) 703-4906

 

To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/zynex-pays-off-loan-balance-300483908.html

SOURCE Zynex

Website: http://www.zynexmed.com
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