Founder, President, Chief Executive Officer & Chairman, Zynex
Search every verified Thomas Sandgaard interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Thomas Sandgaard, founder and CEO of Zynex, has been discussing the company's growth and product development in multiple media appearances. He stated that Zynex expects to reach $200 million in revenue in 2024, up from $13 million in 2016, and projected long-term revenue of $800 million in the pain management division. Sandgaard described the company's flagship NextWave device and noted that the sales force has grown to nearly 500 representatives, with plans to add 300 more. He also announced FDA clearance for a new TensWave device, which he said is intended for patients who cannot use the NextWave or when insurance prefers a TENS device. Sandgaard has also highlighted the company's hospital monitoring division, which he said has four products in development. He described a laser-based pulse oximetry device as a potential "game changer" that could more accurately measure oxygen, carbon monoxide, and methemoglobin levels, and could help detect sepsis. Sandgaard noted that the monitoring division has not yet generated revenue but that one product is nearing FDA submission. He also mentioned that Zynex has helped over one million patients with pain management and emphasized the company's focus on non-addictive alternatives to opioids.
“This year, we'll see a 200 million in revenue. Just 7 or 8 years ago, we only had 11 million in revenue. So we've been growing fast and we continue to grow at a double digit percentage.”
“We pay very close attention to always being profitable and having a positive cash flow along the way. We've been very successful in doing so, so much that we've been able to buy back stock 1 to $80 million year over the past few years and invest tens of millions dollars in our hospital monitoring to patients so far.”
“In hospital monitoring, we have four game changing products on the way. There's no revenue in that division yet, even though one of them in particular is very close, so that we can launch it here, we expect, while the application with the FDA here late later this year in the fourth quarter and hopefully get clearance i...”
“We have a product that will be trying to gain as much market share as possible. Not only are we able to more accurately detect oxygen levels in the blood at the same way it's done today with typically a finger clip, and we will also be able to accurately detect carbon monoxide levels, reduced hemoglobin and myoglobin v...”
“We expect long term revenues to eventually hit or exceed 800 million. And this is all powered by NextWave.”
“The NextWave devices not only part of what I consider our flagship, but it's also the product we currently generate the most revenue on. It's a very easy sell when you percentage to physicians.”
“We have helped more than a million patients so far. Something that's very important, considering the opioid crisis.”
“We expect to hit 800 million in revenue in the pain management division two years out. And there's a huge potential obviously in the monitoring division.”
“Culture is not something you develop by sending out motivational emails or putting posters on the wall. Culture is the people that walk in the door every morning. People don't change. So it's all about hiring the right people.”
“The company is 28 years old. I founded it in a one bedroom 28 years ago. Now we have 1200 people and a great culture here.”
“We offer a number of products for pain management. Our flagship, The NextWave, is obviously best selling that.”
“What we have done is come up with a prescription strength version of TENS devices versus the heated TVM, much less expensive and not very effective devices you can find on the market.”
“One of them being the burst mode that's really good at inducing endorphins in the body — the body's own anesthesia that can help mask pain.”
“Pain, or treating pain is a thirty billion dollar industry in this country.”
“The TENSWave is more to be prescribed or be provided to patients when there's an issue where the NextWave wouldn't work that well, or if an insurance company prefers we bill them for a TENS device instead of the multi-modality NextWave device.”
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