SOURCE: Doral Financial Corporation

December 21, 2011 17:49 ET

Doral Healthcare Finance Provides a $7.0 Million Line of Credit to Zynex, Inc.

PORTLAND, OR--(Marketwire - Dec 21, 2011) - Doral Healthcare Finance ("DHF") today announced it has provided a three year $7.0 million revolving line of credit to Zynex, Inc., and subsidiaries ("Zynex"). Proceeds from the transaction will be used for to pay off existing debt and for growth. Zynex develops, manufactures and markets non-invasive FDA-CE marked medical devices for pain relief, stroke and spinal cord rehabilitation, neurological and cardiac monitoring.

"DHF successfully structured a working capital line that addressed the two restrictions that were in place with Zynex's current lender; a line large enough to support Zynex's operating cash flow needs and the flexibility in the line to accommodate potential acquisitions," said Jennifer Sheasgreen, DHF Managing Director.

Thomas Sandgaard, President and CEO of Zynex, commented, "This new line of credit provides us substantial flexibility to execute our strategic business plan. We are excited to work with DHF, as they understand our business model and believe they will be a great partner for our future."

About Doral Healthcare Finance

Doral Healthcare Finance ("DHF") is a division of Doral Money, Inc. engaged in providing an asset-based lending, working capital lines of credit to providers of goods and services in the healthcare industry nationwide, including hospitals, home healthcare agencies and long-term care facilities with financing needs from one million to $20 million. DHF serves clients from their offices in Portland, Oregon. For more information on DHF services, please visit or contact (855) 277-7895.

About Zynex, Inc.

Zynex, Inc. (founded in 1996), operates under three primary business segments; Zynex Medical, Zynex NeuroDiagnostics and Zynex Monitoring Solutions. Zynex Medical engineers, manufactures, markets and sells its own design of electrotherapy medical devices for standard digital electrotherapy, used for pain relief, pain management and stroke and spinal cord injury rehabilitation. Zynex Medical's product lines are fully developed, FDA-cleared, commercially sold, and have been developed to uphold the Company's mission of improving the quality of life for patients suffering from impaired mobility due to stroke, spinal cord injury, or debilitating and chronic pain. Zynex NeuroDiagnostics, currently in the development stage, has been established to market EMG, EEG, sleep pattern, auditory and nerve conductivity neurological diagnosis devices through product development or acquisitions. Zynex Monitoring Solutions, currently in the development stage, has been established to develop and market medical devices for non-invasive cardiac monitoring.

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