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Recognizing 100 CEOs & C-level Executives
Thomas Sandgaard Zynex Medical 1

Thomas Sandgaard

Founder, Chairman & CEO

Zynex Medical

Location: Englewood, CO

Founded: 1996

Industry: Medical device manufacturing & distribution

When Thomas Sandgaard launched Zynex Medical in 1996, he did it from a one-bedroom apartment in Boulder, Colorado, with $4,000 and a credit card to his name. In 1998, the company received its first Food and Drug Administration approval for an electric-stimulation device that managed pain and increased blood circulation to promote healing.

In 2004, the company went public and in 2010, restructured into three subsidiaries. Zynex Medical manufactures electrotherapy devices for pain management and physical rehabilitation; Zynex Monitoring solutions manufactures devices for non-invasive cardiac monitoring and Zynex NeuroDiagnostic manufactures devices for neurological diagnosis.

“Zynex’s mission is to be the world’s premier pain management provider and we are well on our way,” said Sandgaard. “The current success of the company is built upon a relentless focus on patients and their end-to-end experience with the products and organization.”

That mission has led to exceptional products and service to more than 50,000 patients and a market cap of $300 million shortly after being listed on NASDAQ. Although Sandgaard is an engineer and businessman by training, he embraces invention and strategy while setting his sights on bringing innovation to fruition.

“I genuinely care about manufacturing quality products and providing top-notch customer care to patients with pain. We will go above and beyond to find ways to address the opioid epidemic that is destroying lives and killing so many across the country,” said Sandgaard.

According to Sandgaard, in five years, Zynex will continue its growth trajectory and penetrate key international markets to reach patients around the world to provide pain management solutions without the stigma and risk of opioid addiction. He also plans to build an executive team to seamlessly scale and elevate Zynex to the next level.

His efforts thus far have led to Zynex’s recognition in the Top 100 Public Companies by the Denver Business Journal for 10 years and the Deloitte Fast 500 award for companies who are growing fast in the U.S. and Canada for four years. Zynex was also the winner of the Denver Business Journal’s Fastest Growing Colorado Public Company in 2019.

It’s Sandgaard’s personal belief that when great minds collide, great things happen. “Great people and great ideas can move mountains,” he said.

For his leadership and innovation in the medical industry and tireless work to improve patient care, Sandgaard has earned a spot as a Titan 100.

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Fun Fact:

Thomas has a love and passion for classical rock music, starting from a young age.  At age 13 he won an award through the European Contest of Young Inventors with his electronic keyboard invention. He started playing the guitar shortly after and though he’s self-taught, he’s an incredible musician. Thomas has written and played music on and off stage for many years, but took a hiatus for nearly two decades to focus on the success of the business. Recently, he revived his musical passion and started writing as well as playing again. He started the Sandgaard Foundation in an effort to combine great music with his passion to help others. The foundation is raising money to help individuals and families who have been negatively effected by the Opioid Crisis and encourages communities and our country to #BandTogether to address this growing epidemic. 


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