Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders Thomas Sandgaard, Founder, Chairman, President, and CEO, Zynex Medical – Electrifying the Industry: Revolutionizing chronic pain care with innovative service and solutions
There's a reason it's called healthcare – care and carefulness are at the core, and if you want to be successful in the field, you've got to understand the significance of compliance, exceptional service, and continuous expansion. Today's guest has mastered that formula.
We're sitting down with Thomas Sandgaard who is Chairman, President, and CEO of Zynex, which trades on the NASDAQ under the symbol ZYXI. Thomas founded the company in 1996, but before that, he held management positions with companies such as ITT, Siemens, GN Danavox DataCo, and Phillips.
Thomas is also the Founder and CEO of Sandgaard Capital, a private equity investment firm and family office. Additionally, he's the Founder and President of the Sandgaard Foundation, which seeks to address the tragic opioid and fentanyl crisis here in the States by helping to fund initiatives that save lives from overdoses, help people escape the cycle of relapse, and support victims and their families.
Thomas has a degree in electronic engineering from Denmark's Syddansk University, Engineering, and an MBA from Copenhagen Business School.
Highlights:
- Zynex's background and business model (3:57)
- How Thomas got into the medical device industry (5:39)
- The pain management market (7:04)
- Zynex's target audiences (8:17)
- Competition in the field (9:14)
- Zynex's line of products (10:37)
- Thomas explains Zynex's total addressable market (11:21)
- Patient monitoring part of the business (12:56)
- How Zynex builds and maintains their sales force (14:45)
- Thomas' philosophy on customer service (17:22)
- How Zynex is diversifying its product range (18:10)
- Thomas describes how he prioritizes investments and balances growth and profitability (19:16)
- Zynex's first quarter growth reports (20:38)
- Zynex's new M-Wave NMES device (21:48)
- Thomas' take on the barriers to entry in the medical device industry (23:13)
- Thomas' work as a musician (24:38)
- The Sandgaard Capital Foundation and its mission (25:55)
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If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.