ENGLEWOOD, Colo. - Zynex , Inc. (NASDAQ: NASDAQ:ZYXI), a company focused on non-invasive medical devices for pain management, rehabilitation, and patient monitoring, has announced FDA clearance for its latest M-Wave Neuromuscular Electrical Stimulation (NMES) device. The M-Wave is set to replace the E-Wave, a staple in the NMES treatment landscape since 1998, known for its power and versatility.
The new M-Wave device is designed to be more user-friendly and offers additional features, potentially broadening its application in both clinical and home settings. Thomas Sandgaard, CEO of Zynex Medical, highlighted that the product was developed incorporating feedback from patients and physicians, aiming to create a more intuitive experience for creating custom electrotherapy regimens.
Neuromuscular Electrical Stimulation treatments can assist in recovery from surgery, manage chronic conditions, and even enhance exercise performance. The M-Wave's design aims to improve the management of neuromuscular conditions, offering quick treatment options that are easily integrated into patients' recovery routines due to its compact and portable nature.
The information in this article is based on a press release.
InvestingPro Insights
As Zynex, Inc. (NASDAQ: ZYXI) makes waves with its FDA clearance for the new M-Wave Neuromuscular Electrical Stimulation device, investors may be interested in the company's financial health and market performance. According to InvestingPro data, Zynex boasts a solid market capitalization of $410.91 million and has demonstrated impressive revenue growth of 24.12% over the last twelve months as of Q3 2023. This growth is further underscored by a strong gross profit margin of 80.02%, indicating the company's efficiency in managing its production costs relative to its sales.
Looking at the company's stock performance, Zynex has experienced a robust 25.94% return over the last three months, which could be reflective of investor confidence in its strategic direction and product development. Additionally, the InvestingPro Tips suggest that Zynex operates with a moderate level of debt and its liquid assets exceed its short-term obligations, providing a cushion for operational flexibility.
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