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Assure Holdings Corp. (ARHH) announced a successful auditory brainstem implant surgery, performed by Dr. Moises Arriaga with support from Assure neurophysiologists and Cadwell equipment. This rare procedure aimed to restore hearing for a patient who had lost all sound input. Assure's role was crucial in minimizing potential side effects and ensuring accurate device placement. Assure is known for its high-quality patient care, utilizing state-of-the-art monitoring technology. This success highlights Assure's commitment to innovation in patient care.
Assure Holdings Corp. reported a record of over 1,400 intraoperative neuromonitoring procedures performed in May 2021, attributed to strong demand in Texas following the acquisition of Sentry Neuromonitoring.
Additionally, Jerod Powell was appointed Chief Information Officer, aiming to enhance the company's digital transformation and operational efficiency. His appointment aligns with Assure's strategy to strengthen its data management and automation capabilities, enhancing its competitive position. Powell brings over 20 years of experience in technology and cloud computing to his role.
Assure Holdings Corp. (OTCQB: ARHH) announced a definitive agreement with Centurion Financial Trust for an $11 million credit facility. This includes a $6 million senior term loan, a $2 million revolving loan, and a $3 million acquisition line, aimed at enhancing financial flexibility and supporting growth initiatives, including operational expansion and telehealth services. The facility's interest rates range from 9.5% to the Royal Bank of Canada's Prime Rate plus 7.05%. Assure plans to use the proceeds to repay existing debts and fund future acquisitions.
Assure Holdings Corp. (OTCQB: ARHH) announced a significant agreement with a commercial health insurer in Louisiana, effective retroactively from May 1, 2021. This agreement resolves a long-standing dispute and enables Assure to provide telehealth neurology services as an in-network provider. The deal streamlines billing by ensuring timely payments and includes a commitment to expedite open claims dating back to 2020. CEO John Farlinger emphasized this agreement as critical for maintaining the company's market viability and reducing operational risks.
Assure Holdings Corp. (OTCQB: ARHH), a neuromonitoring service provider, announced participation in several investor conferences scheduled for June 2021. Events include the MicroCap Rodeo Summer Solstice Conference (June 1-4), Adelaide Capital Investor Update Webinar (June 2), LD Micro Invitational (June 8-10), and Life Sciences Investor Forum (June 24). CEO John Farlinger will present key insights at each event, promoting Assure's efforts in optimizing intraoperative neuromonitoring services. These engagements provide valuable networking opportunities with institutional and retail investors.
Assure Holdings Corp. (OTCQB: ARHH) reported a 34% increase in managed case volume to 2,794 and total revenue of $4.8 million for Q1 2021, up from $4.3 million in Q1 2020. The company raised its 2021 procedure guidance to 17,000 procedures, which is a projected increase of over 70% year-over-year. Assure continues to invest in its organizational infrastructure and has recently acquired Sentry Neuromonitoring and Elevation EP, enhancing its operational footprint to ten states and expanding service capabilities. The net loss was $(1.2 million), compared to a loss of $(0.4 million) in the same quarter last year.
Assure Holdings Corp. (OTCQB: ARHH) reported a 34% increase in managed case volume to 2,794 for Q1 2021, alongside revenues of $4.8 million, up from $4.3 million in Q1 2020. The company raised its full-year guidance for total procedures to 17,000, projecting a 70% increase over 2020. Assure's strategic investments include acquisitions and a new telehealth service to enhance revenue. However, net loss increased to $(1.2) million from $(0.4) million. The acquisition of Sentry Neuromonitoring is expected to bolster growth and expand market reach.
Assure Holdings Corp. (OTCQB: ARHH), specializing in intraoperative neuromonitoring services, will participate in two investor conferences in May 2021. CEO John Farlinger will present at the Benzinga Global Small Cap Conference on May 13 at 5:05 p.m. ET and at Sidoti’s Virtual Microcap Investor Conference on May 20 at 10:45 a.m. ET. Both events offer opportunities for networking with investors. Assure is recognized for high-quality patient care in neuromonitoring and is accredited with the Joint Commission’s Gold Seal of Approval.
Assure Holdings Corp. (OTCQB: ARHH) will hold a conference call on May 14, 2021, at 12:00 p.m. Eastern time to discuss its Q1 2021 financial results. A press release detailing these results will be provided before the call. The conference is accessible via toll-free and international dial-in numbers. Assure specializes in intraoperative neuromonitoring services for neurosurgeons and orthopedic spine surgeons, recognized for high patient care standards. They emphasize transparency about potential business risks, including those related to COVID-19.
Assure Holdings Corp. (OTCQB: ARHH) has successfully completed its acquisition of Sentry Neuromonitoring, enhancing its intraoperative neuromonitoring (IONM) services in Texas. This transaction, valued at approximately US$3.5 million, includes a cash payment and common shares. Assure's full-year 2021 guidance has increased from 14,000 to 17,000 procedures, anticipating a 70% rise from 2020 levels. The acquisition is expected to unlock new business opportunities and improve financial performance, expanding Assure's operational footprint in Texas and beyond.
