Zynex (NSDQ:ZYXI) recently announced the lease of a new 50,488 sq2 warehouse for manufacturing and inventory.
The Englewood, Colo.-based developer of non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics said the new building will expand inventory capacity by three to five times compared to its current facility. The 65-month lease will begin on the substantial completion of tenant improvements or January 15, 2021, whichever comes first.
“With order growth of 84% in 2019, 76% in the first half of 2020 net of the COVID-19 slowdown and our forecast for the remainder of 2020 and beyond, we have outgrown our current facilities for inventory and manufacturing,” said Zynex CEO Thomas Sandgaard in a news release. “The new facility is less than four miles from our headquarters and fits well into our growth plans for 2020 and future years. Moving our inventory and manufacturing functions from our corporate headquarters will also give us much-needed room for our growing reimbursement, sales support and other G&A functions. We expect to occupy the space in the next 60-90 days.”