Zynex Growth Leads to New Corporate Headquarters
Zynex, Inc. (NASDAQ: ZYXI) has announced its relocation to a new corporate headquarters in Englewood, Colorado, expanding its space from 86,000 square feet to 110,754 square feet. The new lease, effective May 3, 2021, spans 84 months and includes an option for an additional 56,158 square feet. CEO Thomas Sandgaard highlighted competitive lease rates and significant rent credits that enhance the company's financial position. This move aligns with Zynex's growth in manufacturing and sales of non-invasive medical devices for pain management and rehabilitation.
- Expansion of corporate headquarters from 86,000 sq. ft. to 110,754 sq. ft.
- Competitive lease rates and significant rent credits improve financial outlook.
- Consolidation into one facility may enhance operational efficiency.
- None.
ENGLEWOOD, Colo., April 9, 2021 /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 that it is moving to a new corporate headquarters to accommodate its' continued growth. The new headquarters is located at 9655 Maroon Circle, Englewood CO 80112.
The new building is down the street from the existing headquarters and will expand the footprint from approximately 86,000 square feet to 110,754 square feet with a first right of refusal to occupy an additional 56,158 square feet in the building. An 8-K has been filed with the details of the lease arrangements. The lease is for eighty-four months and terminates on April 29, 2028.
"We are excited to move into a great building which can accommodate our headquarters growth in one facility versus having to expand to into separate buildings as we grow," said Thomas Sandgaard, CEO and founder of Zynex Inc. "We were able to negotiate very competitive lease rates and a significant amount of rent credits which will offset much of the remaining obligation at our current building. We expect to occupy the new space on May 3, 2021. The new building, combined with our facility for manufacturing/warehouse gives us approximately 161,000 square feet under lease and the facilities are just a few miles apart."
About Zynex, Inc.
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 also has a blood volume monitor for use in hospitals and surgery centers. For additional information, please visit: www.zynex.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 goods 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, 2020 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.
Contact: Zynex, Inc. (800) 495-6670
Investor Relations Contact:
Amato And Partners, LLC
Investor Relations Counsel
admin@amatoandpartners.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/zynex-growth-leads-to-new-corporate-headquarters-301265632.html
SOURCE Zynex
FAQ
What are the details of Zynex's new headquarters announcement?
When will Zynex move to the new headquarters?
What is the stock symbol for Zynex, Inc.?
