ZYXI - Zynex acquires Kestrel Labs for $31M

Zynex (NASDAQ:ZYXI) has acquired 100% of Kestrel Labs, a laser-based, noninvasive patient monitoring technology company. The transaction closed on December 22, 2021 at an approx. value of $31M, consisting of $16M in cash and ~$15M in Zynex common stock. ZYXI shares down 1.4% premarket at $10.42. Kestrel Labs' proprietary NiCO CO-Oximeter laser-based photoplethysmography patient monitoring technology identifies, measures, and monitors four crucial species of hemoglobin, which include O2Hb (oxygenated hemoglobin), RHb (reduced hemoglobin), COHb (carboxyhemoglobin), and metHb (methemoglobin). "We will begin integrating Kestrel Labs' two main products into our existing monitoring portfolio and seek regulatory clearance," said Thomas Sandgaard, Founder, Chairman, and CEO of Zynex. Kestrel Labs' laser-based technology allows it to measure distinct parameters, including distinguishing between hemoglobin bound to carbon monoxide rather than to oxygen, which would lead to better quality of care.

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Zynex acquires Kestrel Labs for $31M