Zynex Inc (NASDAQ:ZYXI) has announced its membership in the Collaborative Community of the Open Oximetry Project as an industry member.
This initiative, led by the University of California, San Francisco's Center for Health Equity in Surgery and Anesthesia, aims to enhance the safety and accuracy of pulse oximeters across diverse populations.
The project brings together stakeholders including academic researchers, regulatory agencies, industry players, and healthcare providers, to accelerate progress in this field.
In line with the project's goals, Zynex Monitoring Solutions (ZMS) is advancing the NiCO pulse oximeter, a device that uses laser technology to measure blood oxygen levels with greater accuracy than traditional LED-based oximeters, which have shown limitations, particularly in individuals with darker skin tones.
ZMS is nearing completion of the NiCO’s verification studies, which are necessary for submitting for FDA 510(k) clearance.
The company expressed confidence that NiCO’s improved precision, accuracy and safety makes it well-positioned to enter the multi-billion-dollar pulse oximetry market.
Donald Gregg, Zynex Monitoring Solutions president, highlighted Open Oximtery’s vital role in raising awareness about the limitations and capabilities of existing oximetry products.
"This is an important first step in improving patient care and pushing for technology advancements that resolve these well-published and well-recognized monitoring deficiencies," Gregg said.
"We are pleased to join the Collaborative Community of the Open Oximetry Project to contribute to a better understanding of the clinical performance of current LED pulse oximetry and to work toward better healthcare through safer and more inclusive medical monitoring solutions."