Zynex Monitoring Announces Community Blood Drive and Research Collaboration Trial for its Fluid Monitoring System

Rhea-AI Summary

Zynex, Inc. (NASDAQ: ZYXI) has announced a community blood donation drive to be held on February 1, 2023, at its Englewood, CO headquarters in partnership with Vitalant. This initiative aims to address the critical shortage of blood while providing a unique opportunity for research. Participants will be monitored using Zynex's CM-1600 system during the donation, contributing to an IRB-approved clinical trial assessing the system's efficacy in detecting blood loss. The CM-1600 is currently under FDA review, building upon the CM-1500, which received FDA clearance in February 2020.

Positive

• Hosting a blood donation drive helps address a critical local issue.
• Unique research opportunity enhances community relations and brand visibility.
• The CM-1600's involvement in the trial may promote future FDA approval.

Negative

• None.

ENGLEWOOD, Colo., Feb. 1, 2023 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, rehabilitation and patient monitoring, today reported it will be hosting a blood donation drive on February 1, 2023 at its headquarters in Englewood, CO in partnership with Vitalant, the nation's largest independent, nonprofit blood services provider. The drive will fulfill an important and immediate need to help with the emergency shortage of blood in the community while also offering a unique research opportunity for participants. Consenting donors will be monitored with the Zynex Monitoring System, CM-1600 during the blood donation as part of Zynex's IRB-approved Blood Loss Detection clinical trial.  The trial is designed to evaluate the specificity and sensitivity of the CM-1600's patented Relative Index in detecting blood loss. The company obtained FDA clearance of the previous generation fluid monitoring system, the CM-1500, in February 2020. The CM-1600 is under review with FDA.

"We value our research collaboration with Vitalant and are excited at the opportunity for Zynex team members to give back to the community by donating blood while also contributing to a research study with our non-invasive monitoring technology," said Donald Gregg, VP of Zynex Monitoring Solutions.  

Thomas Sandgaard, CEO, Chairman and Founder said: "The need for blood donations across the country is critical right now, and we are proud to be able to pioneer a combined blood drive and research opportunity that advances science and assists those that need it most. We look forward to hosting more blood drives and research opportunities with Vitalant throughout 2023."

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.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 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, 2021 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:
Gilmartin Group 
Investor Relations Counsel 
ir@zynex.com

 

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SOURCE Zynex

FAQ

What is the purpose of Zynex's blood donation drive on February 1, 2023?

The blood donation drive aims to address a critical blood shortage and support a research study using the CM-1600 monitoring system.

How does the CM-1600 system contribute to the blood donation drive?

The CM-1600 will monitor participants during the donation as part of a clinical trial to evaluate its blood loss detection capabilities.

What is the current status of the CM-1600 monitoring system?

The CM-1600 is under FDA review, following the prior FDA clearance of the CM-1500 in February 2020.

Who is Zynex collaborating with for the blood donation drive?

Zynex is collaborating with Vitalant, the largest independent nonprofit blood services provider in the U.S.