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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) announced the appointments of Kelly Shelton as Vice President of Sales and Sherri Wagner as Vice President of Human Resources on March 24, 2022. Shelton brings over 25 years of experience in healthcare sales, with a focus on organic growth and channel partnerships. He previously led a team generating over $500 million at Zimmer Biomet Spine. Wagner will develop Assure's HR strategy, enhancing recruiting and employee engagement. Both executives are expected to drive the company's growth in the expanding intraoperative neuromonitoring market.
Assure Holdings Corp. (NASDAQ: IONM) reported significant growth in its financial results for 2021, with total revenue surging 730% to $29.2 million and managed cases increasing 76% to 17,436. The company achieved adjusted EBITDA of $1.1 million, a strong recovery from a loss of $14.4 million in 2020. General and administrative expenses rose to $14.8 million, reflecting investments in automation and acquisitions. Looking forward, Assure anticipates managing over 25,000 cases in 2022. The firm secured a 3-year agreement with Premier, enhancing its operational footprint.
Assure Holdings Corp. (NASDAQ: IONM) will host a conference call on March 14, 2022, at 8:00 a.m. ET to discuss its Q4 and full-year financial results for 2021. The call will be accessible via a live webcast, with presentation slides available for download. Investors can join via toll-free and international dial-in numbers provided in the release. A replay will be available post-call until March 28, 2022. Assure specializes in intraoperative neuromonitoring and remote neurology services, bolstering the safety and effectiveness of surgical procedures.
Assure Holdings Corp. (NASDAQ: IONM), a leader in intraoperative neuromonitoring and remote neurology services, has announced its participation in several upcoming investor conferences in March and April 2022. Key events include the 34th Annual ROTH Conference from March 13-15, where CEO John Farlinger will present on March 15 at 11:00 a.m. ET, and the Sidoti Spring Small Cap Conference on March 23-24, with a presentation at 4:00 p.m. ET. Additional conferences include the AlphaNorth Capital Investment Conference and the Lytham Partners Spring 2022 Conference.
Assure Holdings Corp. (NASDAQ: IONM) has appointed Brian McDonald as vice president of business operations, effective February 17, 2022. McDonald will focus on corporate strategy initiatives to drive growth and enhance business performance. His previous experience includes key roles in financial management and M&A. The executive chairman highlighted McDonald's proven track record in increasing revenue and profitability, signaling confidence in his ability to lead operational enhancements. Assure aims to capitalize on growth opportunities within the remote neurology market and improve revenue cycle management through digital transformation.
Assure Holdings Corp. (NASDAQ: IONM) reported record growth in its managed cases for 2021, achieving approximately 17,400 cases, a 75% increase from 2020. This included over 5,000 cases in Q4 and 1,900 in December. Despite challenges from COVID-19, the company aims to exceed 25,000 managed cases in 2022, signaling a projected growth of more than 40%. The company provides intraoperative neuromonitoring services, highlighted by its recognition for high patient care standards.
Assure Holdings Corp. (NASDAQ: IONM) has announced its voluntary delisting from the TSX Venture Exchange, effective February 7, 2022. The company, focused on intraoperative neuromonitoring, aims to consolidate trading on the Nasdaq, where most of its trading volume occurs. Executive chairman John A. Farlinger stated that maintaining a dual listing was no longer justified due to low trading volume on the TSXV. Canadian shareholders can continue trading on Nasdaq through their brokers, ensuring accessibility.
Assure Holdings Corp. (NASDAQ: IONM) reported strong growth in its remote neurology services, completing over 2,100 managed cases in 2021, surpassing its fourth-quarter target of 1,000-1,200 cases with 1,222 cases performed. CEO John A. Farlinger emphasized the cost-reduction potential and increased profitability from these services. The company plans to scale its remote neurology platform, expecting it to drive significant revenue and margin growth in 2022. Assure is also recruiting additional staff to support this expansion.
Assure Holdings Corp. (NASDAQ: IONM; TSXV: IOM) announced its participation in the AlphaNorth Capital Investment Conference on March 25-27, 2022. The conference aims to connect growth-stage companies in technology and healthcare with top-level investors. Additionally, Assure is finalizing an agreement to issue 100,000 common shares to the principals of Neuro-Pro Monitoring LLC as part of its acquisition of Neuro-Pro's assets, pending TSX Venture Exchange approval.
Assure Holdings Corp. (NASDAQ: IONM) announced record monthly managed cases, exceeding 1,700 procedures in November 2021. The company anticipates generating a record number of managed cases in Q4 2021, with projections of 1,000 to 1,200 remote neurology managed cases. Assure is enhancing its remote neurology capabilities by recruiting more neurologists. Despite a minimal impact from COVID-19, the firm is monitoring the situation closely.
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