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About Assure Holdings Corp. (NASDAQ: IONM)
Assure Holdings Corp. is a Colorado-based healthcare company specializing in outsourced intraoperative neuromonitoring (IONM) and remote neurology services. The company plays a critical role in supporting surgeons and medical facilities during invasive procedures that pose risks to the nervous system. These include neurosurgery, spine, cardiovascular, orthopedic, and ear, nose, and throat (ENT) surgeries. By providing a comprehensive, turnkey suite of clinical and operational services, Assure ensures the functional integrity of patients' neural structures during surgery, enhancing both safety and outcomes.
Comprehensive Service Offering
Assure's business model is built around delivering a fully integrated solution for IONM. The company employs its own highly trained technologists, uses state-of-the-art monitoring equipment, and manages all aspects of scheduling and setup. Physicians employed through Assure subsidiaries provide real-time remote monitoring and collaborate directly with surgeons and technologists in the operating room. This seamless integration of services ensures continuity, reliability, and confidence for all stakeholders involved in the surgical process.
Industry Accreditation and Commitment to Quality
Accredited by The Joint Commission, Assure Holdings is committed to delivering exceptional surgical care and a superior patient experience. This accreditation underscores the company's adherence to the highest industry standards, further solidifying its reputation as a trusted partner in the healthcare ecosystem.
Market Position and Differentiation
Operating within the highly specialized field of intraoperative neuromonitoring, Assure differentiates itself through its comprehensive service model and direct operating room support. Unlike competitors who may only provide partial services, Assure offers end-to-end solutions, from technical setup to real-time monitoring and billing. This holistic approach not only simplifies processes for medical facilities but also enhances patient safety and surgical outcomes.
Core Focus Areas and Expansion Potential
While Assure primarily supports spinal and vascular surgeries, its capabilities extend to a wide range of medical specialties. The company has also indicated plans to expand its services to other areas of medicine that rely on intraoperative neuromonitoring as a standard of care. This strategic focus positions Assure as a versatile and scalable player in the healthcare industry.
Value Proposition
Assure's patient-driven focus is at the core of its operations, ensuring that all stakeholders—from surgeons to patients—benefit from its high-quality services. By employing the industry's best technologists and leveraging cutting-edge equipment, the company instills confidence and reliability in its offerings, making it a preferred choice for medical facilities and surgeons alike.
Assure Holdings Corp. (NASDAQ: IONM) reported full-year 2022 financial results, revealing a significant decline in gross revenue to $28.9 million from $36.6 million in 2021. Net revenue dropped to $11 million from $29.2 million, with a net loss of $30.1 million versus $2.8 million in the previous year. Despite these challenges, Assure achieved a record 21,600 managed cases, a 24% increase year-over-year. The company initiated cost-cutting measures and expanded its remote neurology services, which contributed to a 57% rise in total cash receipts to $21 million. Assure expects to achieve profitability and positive cash flow in 2023.
Assure Holdings Corp. (NASDAQ: IONM) will host a conference call on April 3, 2023, at 9:00 a.m. ET, to discuss its financial results for Q4 and the full year ending December 31, 2022. The call will include a live webcast and an audio-only option for investors. The dial-in number for the conference is 1-877-545-0320 (toll-free) or 1-973-528-0002 (international), with a Conference ID of 486022. A replay will be available post-call until April 17, 2023. Assure specializes in intraoperative neuromonitoring and remote neurology services, providing crucial support during various surgical procedures, ensuring patient safety and operational efficiency.
Assure Holdings Corp. (NASDAQ: IONM) has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share, confirmed on March 20, 2023. The company previously faced non-compliance notification from Nasdaq on October 11, 2022, due to its stock trading below the required price for over 30 consecutive days. However, the stock's closing bid price met compliance criteria for 10 consecutive business days before the confirmation. Assure specializes in intraoperative neuromonitoring and remote neurology services, ensuring patient safety during surgeries. It is accredited by The Joint Commission, aiming to deliver exceptional surgical care.
Assure Holdings Corp. (NASDAQ: IONM) announced a 20-for-1 reverse stock split effective March 4, 2023, to comply with NASDAQ minimum bid price requirements. Post-split, the total number of authorized shares will decrease from 180 million to 9 million. This consolidation will adjust the shares held by each stockholder, with no fractional shares issued. As of the split, approximately 1,101,098 shares will be outstanding. The reverse split aims to enhance the attractiveness of the stock price for investors while maintaining stockholders' percentage ownership and voting power. Trading on a split-adjusted basis will commence on March 6, 2023.
Assure Holdings Corp. (NASDAQ: IONM) announced that it will present at the Gravitas 6th Annual Growth Conference on March 2, 2023, in Vancouver, British Columbia. CEO John A. Farlinger is scheduled to present at 1:20 PM PST and will engage in Q&A sessions, individual meetings, and a panel discussion focused on industry developments. Farlinger highlighted the conference as a platform to discuss cost reduction and profitability strategies. The event will include various presentations and discussions from industry leaders, attracting investors from across North America.
Assure Holdings Corp. (NASDAQ: IONM), a leading provider of intraoperative neuromonitoring, has been invited to present at the Third Annual Winter Wonderland – Best Ideas Virtual Investor Conference from February 21 to 24, 2023. The presentation, led by Chief Financial Officer John Price, is scheduled for 3:30 pm ET on February 21. Attendees can join the live webcast and schedule one-on-one meetings with management during the conference. This conference showcases 37 best ideas recommended by qualified institutional investors, aiming to connect companies with potential investors.
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