Zynex's Strategic Moves: New Board Member and Special Committee Formation

Zynex, Inc., a prominent player in the medical technology sector, has recently announced a series of strategic initiatives designed to enhance its long-term success. The Colorado-based company specializes in the production and sale of non-invasive medical devices aimed at pain management and rehabilitation. To ensure they navigate the future effectively, Zynex is spearheading several crucial moves.

Engagement with Province, LLC

One of the most notable steps taken by Zynex is its partnership with Province, LLC, a globally recognized financial advisory firm. The goal is to evaluate a variety of strategic alternatives that include potential opportunities for capital raising and restructure strategies. Engaging Province is an indication of Zynex's commitment to exploring all potential pathways for growth and sustainability.

Appointment of Paul Aronzon

Zynex is also delighted to announce the addition of Paul Aronzon to its Board of Directors. At the age of 70, Mr. Aronzon brings over 40 years of experience in corporate restructuring and advisory roles. Before joining Zynex, he served as the managing member of PSA Consulting and held prominent positions at Milbank, Tweed, Hadley & McCloy LLP and Imperial Capital LLC. His extensive experience and insights will be invaluable as Zynex aims to navigate complex financial landscapes.

Formation of a Special Committee

To supervise the assessment of various strategic alternatives, Zynex's Board has formed a Special Committee made up of independent directors, appointing Mr. Aronzon as its Chair. Current director Bret Wise will also be a part of the committee. This dedicated team will work closely with Zynex's management, Province, and advisors to evaluate potential strategic options and implement them as deemed appropriate.

Moving Forward

Steven Dyson, the CEO of Zynex, stated, "We are taking decisive steps to ensure Zynex is well-positioned going forward." He emphasized the company's dedication to exploring all avenues to secure a prosperous future, demonstrating the firm’s proactive approach in an increasingly competitive market.

While Zynex has yet to identify a specific strategic transaction, the formation of the Special Committee aims to evaluate potential strategic alternatives thoughtfully. The outcomes of their discussions may set the stage for significant organizational changes, but there are no assurances that any particular transaction will take shape through this process.

Understanding Forward-Looking Statements

It is essential to note that this announcement contains forward-looking statements defined under The Private Securities Litigation Reform Act of 1995. Such statements are inherently uncertain and subject to a variety of risks and assumptions. Zynex acknowledges that actual results could differ considerably from those anticipated in these forward-looking comments due to various factors, including market conditions, operational challenges, and regulatory requirements. Consequently, stakeholders are advised to approach these projections with caution and not rely solely on them for future insights into the company’s performance.

Conclusion

In summary, Zynex's recent strategic initiatives signify an active commitment towards improving its market standing and overall business health. The collaboration with Province, along with the incorporation of experienced leaders like Paul Aronzon, sets a solid foundation for exploring innovative ways to sustain business growth and navigate upcoming challenges in the medical technology sector.

Stay tuned as Zynex continues to unveil more about its strategic endeavors and the potential vehicles for advancement in the coming weeks and months. For additional information and updates on upcoming initiatives, you can follow Zynex's official communications or visit their website at www.zynex.com.