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Assure Holdings Corp. has received approval for its common stock to be listed on the NASDAQ Capital Market, effective September 29, 2021, under the ticker symbol 'IONM'. This transition from the OTCQB is expected to enhance visibility, increase liquidity, and improve access to capital, according to Executive Chairman John A. Farlinger. Assure continues trading on the TSX Venture Exchange under 'IOM' while maintaining its commitment to delivering high-quality intraoperative neuromonitoring services during surgeries.
Assure Holdings Corp. (OTCQB: ARHH, ARHHD) announced its participation in the Lake Street 5th Annual Best Ideas Growth Conference on September 15, 2021. This exclusive event will feature over 100 publicly traded companies engaging with institutional investors in one-on-one meetings. Assure specializes in intraoperative neuromonitoring services, supporting neurosurgeons and orthopedic spine surgeons with a comprehensive suite of services. The company recently adjusted its common stock trading on the TSX Venture Exchange for eligibility to uplist on NASDAQ.
Assure Holdings Corp. has secured a systemwide contract with Premier Inc., effective November 1, 2021, to offer intraoperative neuromonitoring (IONM) services to Premier members. This agreement marks a significant milestone for Assure, allowing it to provide pricing and terms pre-negotiated by Premier to approximately 4,400 hospitals and 225,000 other providers. The CEO, John A. Farlinger, notes the benefits include facilitated introductions to hospital decision-makers and eligibility to provide IONM services to previously unattainable affiliated hospitals.
Assure Holdings Corp. (OTCQB: ARHH) executed a reverse stock split of 5-for-1 to qualify for NASDAQ listing. This adjustment reduces authorized shares from 900 million to 180 million, with outstanding shares decreasing from 59 million to approximately 11.8 million. The reverse split is aimed at meeting NASDAQ's minimum share price requirements. Trading under the new CUSIP will begin on TSXV on September 8, 2021, with the OTCQB symbol ARHHD reflecting the split for 20 trading days. Assure aims to enhance shareholder value through this uplisting.
Assure Holdings Corp. announced plans to consolidate its shares and make corporate governance changes to meet NASDAQ listing requirements. The Board approved a 5:1 share consolidation to satisfy NASDAQ's minimum price requirements and implemented new charters for its committees. The consolidation will reduce authorized shares from 900 million to 180 million, effective September 7, 2021. Assure aims to enhance its visibility and liquidity through a NASDAQ listing, but approval is not guaranteed.
Assure Holdings Corp. (OTCQB: ARHH) reported a remarkable 114% increase in managed case volume, totaling 4,257 for Q2 2021, alongside total revenue of $6.2 million, a significant improvement from a net loss of $1.3 million compared to $13.3 million in the previous year. General and administrative expenses rose to $4.0 million, driven by IT investments. The company projects 17,000 total procedures for 2021, reflecting over a 70% growth. Acquisitions completed in Q2 are expected to enhance revenue streams and operational capacity.
Assure Holdings Corp. (OTCQB: ARHH) will hold a conference call on August 16, 2021, at 5:00 p.m. Eastern Time to discuss its second-quarter financial results, which will be announced prior to the call. The call can be accessed via toll-free and international numbers and will be available for replay until August 30, 2021. Assure specializes in providing intraoperative neuromonitoring services for neurosurgeons and orthopedic spine surgeons, emphasizing high standards of patient care and operational efficiency.
Assure Holdings Corp. has expanded its services into Nebraska, marking its presence in the eleventh state. The company successfully performed its first neuromonitoring case in collaboration with Dr. W. Lee Warren, an esteemed neurosurgeon. This growth reflects Assure's strong reputation in the intraoperative neuromonitoring (IONM) industry, driven by an increase in demand for these services. Additionally, Assure has renewed its agreement with Sidoti & Co. for capital market research, ensuring continued support for its financial strategies.
Assure Holdings Corp. (OTCQB: ARHH) announces participation in several upcoming investor conferences. Notable events include the Alliance Global Partners Virtual MedTech Summer Conference on July 29, 2021, followed by the D.A. Davidson Bison Select Conference on August 4, where CEO John Farlinger will present. Management will also engage in one-on-one meetings with investors during the Q3 Virtual Investor Summit on August 17-18 and the Sidoti Summer Virtual Microcap Investor Conference on August 18-19. Assure specializes in intraoperative neuromonitoring services during surgeries.
Assure Holdings Corp. (OTCQB: ARHH) reported record monthly cash collections and procedures for June 2021, achieving $2.7 million in collections, including $1.6 million retained from IONM revenue. The company also recovered over $0.8 million in pre-acquisition accounts receivable from Sentry Neuromonitoring. Assure anticipates continued strong trends in collections and aims for a 70% growth in case volume for 2021. Additionally, it onboarded Dr. Diego Tovar to enhance its telehealth services. Assure is focused on expanding partnerships with insurance providers to stabilize revenue.
