Zynex Monitoring Solutions blood volume monitor is a non-invasive medical device for monitoring central blood volume that would be used in operating and recovery rooms to detect blood loss during surgery and internal bleeding during recovery.

Zynex CEO Thomas Sandgaard said they are starting the next phase of collecting data to further validate the algorithm used to non-invasively determine changes in central blood volume.

"We expect to use the data for defining further clinical studies, as well as to provide substantiation for FDA submission and international regulatory clearance," Sandgaard said.

Zynex manufactures, markets and sells its own design of medical devices in three subsidiaries.

Zynex Medical is a provider of electrotherapy products for home use, Zynex Monitoring Solutions develops products for cardiac monitoring for use in hospitals and Zynex NeuroDiagnostic develops devices for EMG and EEG diagnostic purposes in the neurology clinic markets.