Zynex Continued Growth Leads to a New Manufacturing and Warehouse Facility
Zynex, Inc., an innovative medical technology company specializing in manufacturing and selling non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics, announced the lease of a new 50,488 square foot warehouse facility for its growing manufacturing and inventory requirements.
Thomas Sandgaard, CEO of Zynex said: “With order growth of 84% in 2019, 76% in the first half of 2020 net of the COVID-19 slowdown and our forecast for the remainder of 2020 and beyond, we have outgrown our current facilities for inventory and manufacturing. The new facility is less than four miles from our headquarters and fits well into our growth plans for 2020 and future years. Moving our inventory and manufacturing functions from our corporate headquarters will also give us much needed room for our growing reimbursement, sales support and other G&A functions. We expect to occupy the space in the next 60-90 days.”
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The new building will expand our inventory capacity by three to five times compared to our current facility. The lease has a term of sixty-five months and commences on the earlier of the substantial completion of tenant improvements or January 15, 2021. An 8-K has been filed with the details of the lease arrangements.
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