Zynex Inc (NASDAQ:ZYXI) earlier this week outlined changes to its leadership as Thomas Sandgaard prepares to move into the chairman role. The company said Steven Dyson will step in as the new chief executive officer.
Dyson brings more than 25 years of experience in the healthcare sector, having worked in consulting at McKinsey before spending 25 years at Apex, where he focused on investing in medical device businesses.
The company said Dyson has experience transforming companies to drive revenue growth and improve profitability.
The new CEO highlighted that the NexWave product delivers positive outcomes for patients and is positioned well in pain management after the reduction in opioid use.
Dyson noted that Zynex Inc has significant growth potential, saying the business is only “scratching the surface” of opportunities in its market. “You see a number of companies with slow or low growth that are very penetrated. That is absolutely not the case with Zynex. I think there’s huge potential.”
He added that the company has faced challenges in recent years but described these as “eminently fixable.”
Dyson said his initial priority will be to focus on sustainable growth and profitability. He indicated that detailed plans will be developed once he formally starts in the role.
Sandgaard told investors he will remain closely involved and engaged with the business as a significant shareholder. “Steven and I are going to have a very close working relationship,” Sangaard said.
“I can already see some great ideas coming from Steven that we’ll be implementing fairly quickly and helping execute to grow the business to the potential it can really achieve over the next five or 10 years.”