Zynex, Inc. announced that it has entered into a provider agreement with Humana Inc., effective February 1, 2026. The agreement places Zynex’s NexWave electrotherapy device and related consumables in Humana’s Medicare‑PPO, POS, HMO, and a broad array of Medicaid plans, giving the company access to roughly 20 million Humana members nationwide.
The deal comes as Zynex is navigating a Chapter 11 bankruptcy filing that was announced on December 15, 2025. The company submitted an amended reorganization plan on February 1, 2026, and has been implementing a 15 % staff reduction and other cost‑cutting measures to stabilize cash flow.
By becoming an in‑network provider, Zynex gains reimbursement through Humana’s extensive benefits plans, creating a new revenue stream that could help offset the revenue losses it suffered after a temporary suspension of payments from Tricare in 2025, its largest insurance customer.
Executive Vice President of Marketing Kurt Hudson said the partnership would "expand patient access to our advanced electrotherapy products," while CEO Steven Dyson added that the agreement "demonstrates Zynex’s commitment to delivering high‑quality technology and service standards to Humana members."
Zynex’s financial performance has been volatile in recent quarters. Net revenue fell from $46.5 million in Q1 2024 to $26.6 million in Q1 2025, and the company missed revenue estimates in Q4 2024, reporting $45.98 million versus the $53.65 million consensus. The company has also suspended revenue and profitability guidance since July 2025 amid leadership changes and a review of forecasting procedures.
The Humana agreement is a material development that broadens Zynex’s payer footprint and provides a potential source of recurring revenue during its restructuring. While the terms of the agreement were not disclosed, the partnership signals confidence from a major insurer in Zynex’s product line and could improve the company’s financial outlook as it emerges from bankruptcy.
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