Assure Holdings Expands Operational Footprint With First Neuromonitoring Case in Nevada

Rhea-AI Summary

Assure Holdings Corp. (NASDAQ: IONM) has expanded its operations by performing its first neuromonitoring case in Nevada, marking its entry into the twelfth state. The company has secured a contract to provide IONM services to eight hospitals in the Las Vegas area, a region with a significant demand for spine surgery. Assure aims to grow rapidly in this market, anticipating collaborations with multiple surgeons who handle around 2,000 procedures annually. The company's growth trajectory has been propelled by its reputation for quality and the increasing need for neuromonitoring across various medical procedures.

Positive

• Entered the Nevada market by performing its first neuromonitoring case.
• Secured agreements to provide IONM services for eight hospitals in Nevada.
• Anticipates rapid growth in Nevada, potentially becoming one of its fastest-growing markets.
• Collaborating with surgeons performing approximately 2,000 procedures annually enhances service demand.
• Company is now operating in twelve states, indicating successful expansion.

Negative

• Dependence on the performance of specific surgeons may pose operational risks.
• Potential market growth in Nevada is uncertain, subject to local demand fluctuations.

Company Begins Providing Services in Twelfth State

DENVER, Oct. 08, 2021 (GLOBE NEWSWIRE) -- Assure Holdings Corp. (the “Company” or “Assure”) (NASDAQ: IONM; TSXV: IOM), a provider of intraoperative neuromonitoring services (“IONM”), is pleased to announce that it has performed its first neuromonitoring case in Nevada and has signed an agreement to provide IONM services for eight hospitals in the state, primarily in the Las Vegas metro area.

“We expect to grow rapidly in Nevada and are confident in our ability to take advantage of sizeable business development opportunities in the state,” said John A. Farlinger, Assure’s executive chairman and CEO. “On a per capita basis, Las Vegas is among the largest spine surgery markets in the nation. Over the next year, we anticipate that Nevada will be among Assure’s fastest growing markets.”

Assure will begin working with five surgeons that specialize in neurosurgery and orthopedic spine surgery. These surgeons perform approximately 2,000 procedures annually. Assure anticipates that the number of surgeons it provides service to in Nevada will expand in the future.

Over the past three years, Assure has expanded beyond its home base of Colorado and is now operating in twelve states: Texas, Louisiana, Utah, Pennsylvania, Michigan, South Carolina, Arizona, Kansas, Missouri, Nebraska and Nevada. This growth has been driven by the Company’s reputation for providing exceptional quality of service and unique clinical expertise. An additional driver to the Company’s growth is the increase in demand for neuromonitoring services across numerous medical procedures.

About Assure Holdings
Assure Holdings Corp. is a Colorado-based company that works with neurosurgeons and orthopedic spine surgeons to provide a turnkey suite of services that support intraoperative neuromonitoring activities during invasive surgeries. Assure employs its own staff of technologists and uses its own state-of-the-art monitoring equipment, handles 100% of intraoperative neuromonitoring scheduling and setup, and bills for all technical services provided. Assure Neuromonitoring is recognized as providing the highest level of patient care in the industry and has earned The Joint Commission’s Gold Seal of Approval®. For more information, visit the company’s website at www.assureneuromonitoring.com.

Forward-Looking Statements
This news release may contain “forward-looking statements” within the meaning of applicable securities laws, including, but not limited to: the Company’s growth plans, including its growth plans and expectations in Nevada; the Company’s reputation in the IONM industry; and the Company’s ability to take advantage of business development opportunities in the United States and Nevada in particular. Forward-looking statements may generally be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to: the uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company’s operations and economic activity in general; that the Company’s actions taken during the COVID-19 health crisis will be effective; the Company’s ability to take advantage of business development opportunities in the United States and Nevada in particular; the Company may not expand its operations in the state of Nevada and Nevada may not be among the Company’s fastest growing markets over the next year; the demand for the Company’s neuromonitoring services may not continue to increase; the Company may not maintain its strong reputation in the IONM industry; the surgeons that the Company expects to work with in Nevada may not continue to perform approximately 2,000 procedures per year; and the risks and uncertainties discussed in our most recent annual and quarterly reports filed with the Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com, which risks and uncertainties are incorporated herein by reference. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, Assure does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact
Scott Kozak, Investor and Media Relations
Assure Holdings Corp.
1-720-287-3093
Scott.Kozak@assureiom.com

FAQ

What services is Assure Holdings providing in Nevada?

Assure Holdings is offering intraoperative neuromonitoring (IONM) services in Nevada.

How many hospitals has Assure Holdings contracted with in Nevada?

Assure has signed agreements to provide services for eight hospitals in Nevada.

What is the expected growth rate of Assure Holdings in Nevada?

Assure anticipates rapid growth in Nevada, which may become one of its fastest-growing markets.

How many procedures do the surgeons in Nevada perform annually?

The surgeons in Nevada collaborate with Assure perform approximately 2,000 procedures annually.

In how many states is Assure Holdings currently operating?

Assure Holdings is currently operating in twelve states.