ENGLEWOOD, Colo., Dec. 3, 2024
/PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI) ("Zynex", "ZMS",
"we" or the "Company"), an innovative medical technology company
specializing in the manufacture and sale of noninvasive medical
devices for pain management, rehabilitation, and patient
monitoring, today announced its membership in the Collaborative
Community of the independently led Open Oximetry Project as an
industry member.
The Open Oximetry Project, an initiative led by the University of California, San Francisco's Center
for Health Equity in Surgery and Anesthesia, is dedicated to
improving the safety and accuracy of pulse oximeters in all
populations. Through its Collaborative Community comprised of
global stakeholders, including academic researchers, regulatory
bodies, industry partners, and healthcare providers, the project
fosters accelerated progress and the sharing of knowledge in this
critical area.
In alignment with these objectives, Zynex Monitoring Solutions
(ZMS) is developing the NiCO™ pulse oximeter which utilizes laser
technology to accurately measure blood oxygenation levels, as
opposed to current LED technology, which only estimates oxygenation
levels. LED pulse oximeters have been shown to inaccurately measure
oxygen levels in several populations, most predominantly on
individuals with darker skin pigmentation.
ZMS is currently in the final stages of its verification studies
for NiCO, which are required before submitting for full 510(k)
clearance by the FDA. Zynex Monitoring Solutions' NiCO product line
is a strategic investment for Zynex to enter the multi-billion
dollar pulse oximetry market with entirely new pulse oximetry
technology. The Company is confident that the clinical value of
NiCO's unparalleled precision, accuracy, and safety will provide
the right entry into this market space.
"Open Oximetry provides a vital independent service to the
public, raising awareness of the shortfalls and performance levels
of current oximetry products. This is an important first step in
improving patient care and pushing for technology advancements that
resolve these well-published and well-recognized monitoring
deficiencies." said Donald Gregg,
President of Zynex Monitoring Solutions. "We are pleased to join
the Collaborative Community of the Open Oximetry Project to
contribute to a better understanding of the clinical performance of
current LED pulse oximetry and to work toward better healthcare
through safer and more inclusive medical monitoring solutions."
About Open Oximetry
Founded at UCSF's Center for Health Equity in Surgery and
Anesthesia (CHESA) and the UCSF Hypoxia Lab, the Open
Oximetry project was created to improve the safety and precision of
pulse oximeters in all populations as these devices have been found
to be less accurate in people with darker skin tone. The Open
Oximetry Project has organically grown into a hub for bringing
together oximetry experts, engineers, academic researchers,
clinicians, community members, manufacturers, and regulatory bodies
from all geographies and backgrounds. We hope to continue to invite
and hold space for diverse voices to work in partnership to tackle
these issues.
About Zynex, Inc.
Zynex, 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. For additional
information, please visit: www.zynexmonitoring.com.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. The Company makes no express
or implied representation or warranty as to the completeness of
forward-looking statements or, in the case of projections, as to
their attainability or the accuracy and completeness of the
assumptions from which they are derived. Factors that could cause
actual results to materially differ from forward-looking statements
include, but are not limited to, the need to obtain 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 products on time and to our
specifications, implementation of our sales strategy including a
strong direct sales force, the impact of COVID-19 on the global
economy and other risks described in our filings with the
Securities and Exchange Commission including but not limited to,
our Annual Report on Form 10-K for the year ended December 31, 2023 as well as our quarterly
reports on Form 10-Q and current reports on Form 8-K.
Any forward-looking statement made by us in this release is
based only on information currently available to us and speaks only
as of the date on which it is made. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Investor Relations Contact:
Brian Prenoveau, CFA
MZ Group – MZ North America
ZYXI@mzgroup.us
+561 489 5315
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SOURCE Zynex, Inc.