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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) will present at the LD Micro Invitational on June 8, 2022, at 7:30 p.m. ET. John Farlinger, the executive chairman and CEO, will lead the presentation, which will be webcasted live through the company's investor relations site. Additionally, Assure management will hold one-on-one meetings with investors on June 7-8, 2022. The LD Micro Invitational is a three-day conference featuring around 200 companies, offering half-hour presentations and private meetings. Assure specializes in intraoperative neuromonitoring and remote neurology services.
Assure Holdings Corp. (NASDAQ: IONM) announced initiatives to streamline operations and reduce costs by over $200,000 monthly, aiming to enhance profitability. CEO John A. Farlinger stated the company is on track to manage 25,000 cases in 2022, a 40% increase from 2021. With strong cash collections since record results in Q1 2022, Assure is endeavoring to achieve operating cash flow positivity. Proactive cost containment measures are expected to accelerate progress toward profitability.
Assure Holdings Corp. (NASDAQ: IONM) announced participation in two key investor conferences in May and June 2022. The MicroCap Rodeo Spring Into Action Conference will be held from May 16-20, where CEO John Farlinger will present on May 18 at 2:30 p.m. ET. The Benchmark Company’s Healthcare House Call Conference on June 2 will feature one-on-one investor meetings without a formal presentation. Assure is known for its intraoperative neuromonitoring and remote neurology services, enhancing surgical care and patient experience.
Assure Holdings Corp. (NASDAQ: IONM) reported its first-quarter results for 2022, showing total revenue of $4.7 million, a slight decline from $4.8 million in the same quarter of 2021. Managed case volume soared approximately 83% to a record 5,100 cases. Despite operational growth, the company faced a net loss of $2.5 million, worsening from $1.2 million a year earlier. A significant accounting charge of $4.4 million negatively impacted results. Looking ahead, Assure anticipates more than 25,000 managed cases for fiscal year 2022, reflecting a positive outlook.
Assure Holdings Corp. (NASDAQ: IONM) will host a conference call on May 16, 2022, at 4:30 p.m. ET to discuss its Q1 financial results for the period ending March 31, 2022. A live webcast will be available, along with an audio-only option. Interested parties can access related presentation slides and a replay of the call after its conclusion. Assure Holdings provides intraoperative neuromonitoring and remote neurology services, ensuring patient safety during surgeries.
Assure Holdings Corp. (NASDAQ: IONM) has appointed James Watt as National Technologist Director, tasked with overseeing clinical technologist operations and enhancing service quality. Watt brings 25 years of IONM experience and will support the company's expansion into electroencephalogram (EEG) and Deep Brain Stimulation (DBS) markets. His prior roles include leadership positions at Advanced Monitoring Services and Comprehensive Care Services. Assure aims to provide exceptional surgical care and improve patient outcomes through its remote neurology services.
Assure Holdings Corp. (NASDAQ: IONM) has announced a management change, ending its employment relationship with founder Preston Parsons while retaining him as a director. The Company acknowledges Parsons' significant contributions, particularly in identifying the IONM business opportunity. Assure provides outsourced intraoperative neuromonitoring and remote neurology services, delivering critical support during surgeries that risk the nervous system. The Company emphasizes its commitment to exceptional surgical care and a positive patient experience.
Assure Holdings Corp. (NASDAQ: IONM) has secured a group purchasing agreement with Conductiv, effective April 15, 2022, enhancing cost-saving access to its accredited intraoperative neuromonitoring (IONM) services for over 500 hospitals and surgery centers. This strategic partnership aims to streamline contracting processes and improve patient care, as Assure focuses on GPO and facilities-based contracts in its 2022 strategy. Conductiv, owned by Premier, Inc., helps healthcare systems optimize service acquisition, potentially driving significant operational efficiencies and savings for its members.
Assure Holdings Corp. (NASDAQ: IONM) has announced a partnership with Yankee Alliance, a major healthcare GPO with over 18,500 members. This collaboration allows Yankee Alliance members to access pre-negotiated pricing for Assure’s accredited intraoperative neuromonitoring (IONM) services. Assure's CEO emphasized the commitment to improve financial, clinical, and operational effectiveness in surgical settings. Yankee Alliance recognized Assure with 'Green Light' status in the IONM category, indicating confidence in their services. This partnership could enhance Assure's market presence and client base.
Assure Holdings Corp. (NASDAQ: IONM) has announced its expansion into Minnesota, marking its thirteenth operational state. The company performed its first intraoperative neuromonitoring case in the Twin Cities area, emphasizing significant organic growth. Assure's partnership with renowned orthopedic spine surgeon Dr. Rick Davis enhances its service offerings. The company's reputation for quality service and rising demand for neuromonitoring in various medical procedures drive this growth. Assure remains focused on providing exceptional surgical care and improved patient outcomes.
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