Zynex
A U.S. medical-device company producing electrotherapy, neurological diagnostic, and non-invasive cardiac-monitoring technologies.
Last updated August 22, 2026
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History
Thomas Sandgaard founded Zynex Medical in 1996 after moving from Denmark to the United States. Sandgaard had prior experience with medical devices and established the new enterprise as a small wholesaling operation. The company’s early resources were limited: the available historical account describes it as beginning in a one-bedroom apartment with about $4,000 and a credit card. Its initial commercial activity involved the distribution of electrotherapy products, particularly devices intended to deliver electrical stimulation for therapeutic purposes. Zynex reached an important regulatory milestone in 1998 when one of its products received approval from the U.S. Food and Drug Administration. The device used electrical stimulation for pain management and to support circulation and healing. FDA authorization gave the company a foundation for moving beyond wholesale distribution and toward the development and marketing of branded medical devices. Electrotherapy remained the central theme of the business, with products directed at pain relief, muscle activation, rehabilitation, and physical therapy. The company became publicly traded in 2004. In 2008, it changed its corporate name from Zynex Medical Holdings to Zynex and traded on the OTC Bulletin Board under the symbol ZYXI. The simplified name reflected the broader scope of its activities, which by then extended beyond a single electrotherapy category. In February 2010, Zynex reorganized its operations into three subsidiaries. Zynex Medical was responsible for electrotherapy devices used in pain management and physical rehabilitation. Zynex Monitoring Solutions focused on non-invasive cardiac monitoring. Zynex NeuroDiagnostic was organized around neurological diagnosis and related physiological measurements. The diagnostic side of the business expanded in March 2012, when Zynex Medical acquired the assets of NeuroDyne Medical. Based in Cambridge, Massachusetts, NeuroDyne was associated with devices for non-invasive measurement of surface electromyography and autonomic nervous-system activity. Rather than maintaining NeuroDyne as an independent corporate operation, Zynex folded the acquired assets into its NeuroDiagnostic subsidiary. The transaction broadened Zynex’s technical range from therapeutic stimulation to the measurement and interpretation of neurological and autonomic signals. Zynex continued to develop a portfolio spanning home-use and clinical electrotherapy as well as monitoring technologies. Products associated with the brand include the NeuroMove neuromuscular-stimulation system and TENS 7000 transcutaneous electrical nerve stimulation equipment. These products are positioned for non-invasive pain control, muscle rehabilitation, and related therapeutic applications. The company also pursued cardiac-monitoring products, culminating in reported FDA clearance for the CM-1500 Cardiac Monitor in February 2020. The company’s capital-markets profile changed again in February 2019, when Zynex Medical began trading on Nasdaq under ZYXI. Its Colorado operations also moved geographically: after being based in Lone Tree, the company relocated to Englewood in early 2018. The headquarters is described as being in the Englewood area of Douglas County, Colorado. Thomas Sandgaard has remained the executive most closely associated with the company and is identified in the available reference material as its chief executive officer. The later period described by the reference material is marked by legal and financial uncertainty. In December 2025, Zynex reportedly sought Chapter 11 bankruptcy protection to obtain new financing from lenders and deal with pending federal investigations into its billing practices. A February 2026 court filing reportedly involved an intended non-prosecution agreement and an admission concerning alleged participation in a conspiracy involving health-care fraud, securities fraud, mail fraud, and other violations. These developments affect the interpretation of Zynex’s present status. The available material does not establish a completed liquidation, emergence from bankruptcy, or definitive cessation of operations, so the brand’s status is listed as unknown.
- 2026
Reported non-prosecution agreement filing
[1]A reported court filing describes an admission concerning alleged health-care fraud, securities fraud, mail fraud, and related violations.
- 2025
Chapter 11 bankruptcy filing
[1]Reference material reports a Chapter 11 filing connected to financing needs and federal investigations into billing practices.
- 2020
CM-1500 Cardiac Monitor receives FDA clearance
[1]The company receives FDA clearance for its CM-1500 Cardiac Monitor.
- 2019
Nasdaq listing
[1]Zynex Medical begins trading on Nasdaq under the symbol ZYXI.
- 2018
Headquarters relocates to Englewood
[1]Zynex moves its Colorado headquarters from Lone Tree to Englewood.
- 2012
NeuroDyne Medical assets acquired
[1]Zynex Medical acquires NeuroDyne Medical assets and integrates them into its NeuroDiagnostic subsidiary.
- 2010
Operations reorganized into three subsidiaries
[1]Zynex organizes its activities into Zynex Medical, Zynex Monitoring Solutions, and Zynex NeuroDiagnostic.
- 2008
Corporate name shortened to Zynex
[1]The company changes its name from Zynex Medical Holdings to Zynex and trades on the OTC Bulletin Board under ZYXI.
- 2004
Becomes publicly traded
[1]Zynex becomes a public company.
- 1998
First FDA approval
[1]The company receives FDA approval for an electrical-stimulation device intended for pain management and circulation-related healing support.
Products and positioning
A medical-device specialist providing non-invasive electrotherapy and physiological monitoring technologies for pain relief, rehabilitation, neurological assessment, and cardiac monitoring.
Neuromuscular electrical stimulation
NeuroMove
NeuroMove is a Zynex neuromuscular electrical-stimulation system associated with physical rehabilitation and muscle activation. It belongs to the company’s broader electrotherapy portfolio, which uses controlled electrical signals in non-invasive therapeutic applications. The available reference material identifies NeuroMove as one of the brand’s principal offerings but does not provide sufficient detail here on specific indications, configurations, or current commercial availability.
Transcutaneous electrical nerve stimulation
TENS 7000
TENS 7000 is a transcutaneous electrical nerve stimulation product associated with Zynex’s pain-management business. TENS devices deliver low-voltage electrical stimulation through surface electrodes and are commonly used as a non-invasive approach to pain relief. The cited material lists the product among Zynex’s flagship offerings but does not establish its launch date or current distribution status.
Non-invasive cardiac monitoring · 2020
CM-1500 Cardiac Monitor
The CM-1500 is a Zynex cardiac-monitoring device. It represents the company’s expansion beyond pain and rehabilitation electrotherapy into non-invasive cardiac monitoring. Zynex received FDA clearance for the device in February 2020. The available sources do not provide enough detail to characterize all of its technical specifications or current market status.
Neurological diagnosis and physiological measurement · 2012
NeuroDiagnostic systems
Zynex NeuroDiagnostic encompasses devices and capabilities related to neurological diagnosis and non-invasive physiological measurement. Following the 2012 acquisition of NeuroDyne Medical assets, the unit included technology associated with surface electromyography and autonomic nervous-system measurements. The available material describes the business category rather than a complete model-by-model product catalog.
Controversies
2026
Reported admissions in federal investigation proceedings
A reported February 2026 court filing states that Zynex admitted participation in a conspiracy involving health-care fraud, securities fraud, mail fraud, and other violations in connection with an intended non-prosecution agreement.
2025
Chapter 11 filing amid billing investigation
Reference material reports that Zynex filed for Chapter 11 protection in December 2025 while seeking lender financing and attempting to resolve pending federal investigations into its billing practices.
Brand decisions
2025
Chapter 11 restructuringStrategyBackground
Reference material describes financing needs and pending federal investigations concerning billing practices.
Action taken
Zynex reportedly sought Chapter 11 protection to obtain new financing from lenders and address the investigations.
Aftermath
The filing created substantial uncertainty about the company’s financial condition and continuing operations; the available material does not establish the final outcome.
2020
FDA clearance for CM-1500 Cardiac MonitorProduct launchBackground
Zynex was extending its medical-device portfolio into non-invasive cardiac monitoring.
Action taken
The company obtained FDA clearance for the CM-1500 Cardiac Monitor.
Aftermath
The clearance marked a regulatory milestone for Zynex’s monitoring business, although the available material does not quantify its commercial impact.
2012
Acquisition of NeuroDyne Medical assetsM&ABackground
Zynex sought to expand its neurological diagnostic and physiological-measurement capabilities.
Action taken
Zynex Medical acquired the assets of NeuroDyne Medical and folded them into Zynex NeuroDiagnostic.
Aftermath
The acquisition added technologies associated with non-invasive surface electromyography and autonomic nervous-system measurement.
2010
Reorganization into specialized operating subsidiariesStrategyBackground
Zynex was broadening its activities from core electrotherapy into cardiac monitoring and neurological diagnosis.
Action taken
The company established Zynex Medical, Zynex Monitoring Solutions, and Zynex NeuroDiagnostic to separate its main business areas.
Aftermath
The structure provided distinct units for pain and rehabilitation devices, cardiac monitoring, and neurological diagnostic technologies.
Recent events
- 2020
FDA clears Zynex CM-1500 Cardiac Monitor[1]
Product launch · Regulation
Zynex received U.S. Food and Drug Administration clearance for its CM-1500 Cardiac Monitor.
- 2019
Zynex begins trading on Nasdaq[1]
Other
Zynex Medical began trading on Nasdaq under the ticker ZYXI in February 2019.
- 2018
Zynex moves its headquarters from Lone Tree to Englewood[1]
Other
The company relocated its Colorado headquarters to Englewood in early 2018.
Sources6 sources
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