Zynex appoints Steven Dyson as new CEO effective August 18

ENGLEWOOD, Colo. - Zynex, Inc. (NASDAQ:ZYXI), a medical technology company with a market capitalization of $77 million, announced Monday the appointment of Steven Dyson as Chief Executive Officer, effective August 18, 2025. According to InvestingPro analysis, the company faces near-term challenges with analysts revising earnings expectations downward for the upcoming period.

Thomas Sandgaard, who founded Zynex in 1996, will step back from day-to-day operations but remain actively involved as Chairman and Chair of the Board’s Technology Committee. The leadership transition comes as the company’s stock has experienced significant volatility, with shares down over 70% in the past year despite maintaining a strong current ratio of 3.46, indicating solid short-term liquidity.

Dyson brings over 25 years of experience in the medical technology sector, primarily through his leadership at Apax, a global private equity firm. His experience includes board and transaction roles with companies such as KCI, Rodenstock, Healthium Medtech, Unilabs, and Neuraxpharm.

The new CEO will operate from Zynex headquarters in Colorado while maintaining a residence in London. Dyson holds a B.A. from Oxford University and a Ph.D. from Cambridge University.

"Steven brings deep expertise and a proven track record in the medical sector," said Sandgaard in the company’s press release. "His leadership will be instrumental as we refocus our business strategy toward a more optimized payer mix."

Zynex, founded in 1996, develops and manufactures medical devices for pain management, rehabilitation, and patient monitoring systems. The company’s announcement comes as it seeks to strengthen its market position in the medical technology sector.

The appointment represents a significant leadership change for the Colorado-based medical technology company as it works to enhance its growth strategy in the competitive healthcare device market. While currently trading below its Fair Value, the company maintains a healthy gross profit margin of 78%. For deeper insights into Zynex’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers additional ProTips and detailed metrics about the company’s performance and outlook.

In other recent news, Zynex Inc. reported disappointing financial results for the first quarter of 2025, with earnings per share (EPS) of -$0.33 and revenue of $26.58 million, both significantly missing analyst expectations. The company had anticipated an EPS of $0.06 and revenue of $53.47 million. In addition to the financial results, Zynex announced a workforce reduction affecting 14% of its employees, aiming for $5 million in annualized cost savings. The company also provided an update on its appeal against the temporary suspension of payments by Tricare, although a response has yet to be received. Furthermore, Zynex secured a UK patent for its noninvasive sepsis monitoring device, which is part of its strategy to leverage cardiac monitoring technologies for early sepsis detection. Despite these challenges, Zynex is focusing on launching its NICO Pulse Oximeter, expected to generate revenue in 2026, as part of its long-term strategy to achieve $800 million in annual revenue. Analyst firms have not provided any upgrades or downgrades in the recent updates. These developments reflect ongoing efforts by Zynex to navigate financial and operational challenges while pursuing innovation in medical technology.

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