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Assure Holdings Corp. (NASDAQ: IONM) is a leading provider of intraoperative neuromonitoring (IONM) and remote neurology services, based in Denver, Colorado. The company collaborates with neurosurgeons and orthopedic spine surgeons to offer a comprehensive suite of services that ensure the safety and integrity of the nervous system during invasive surgical procedures.
Assure Holdings employs a skilled team of technologists and utilizes state-of-the-art monitoring equipment to provide real-time feedback to surgeons during operations. Their services are crucial in procedures where the nervous system is at risk, including neurosurgery, spine, cardiovascular, orthopedic, and ear, nose, and throat surgeries. By managing 100% of the intraoperative neuromonitoring scheduling and setup, Assure ensures seamless integration into the surgical workflow.
The company is accredited by The Joint Commission, underscoring its commitment to delivering exceptional surgical care and a positive patient experience. Assure's mission revolves around a patient-driven focus, ensuring the highest quality service in the industry.
In recent developments, Assure Holdings has expanded its authorized shares from 9,000,000 to 250,000,000, enabling the company to raise capital and execute its strategic plans. Additionally, Assure is set to complete a significant transaction with Danam Health Inc., which will further bolster its market position and operational capabilities. The company has been granted an extension by the Nasdaq Listing Qualifications Panel to regain compliance with the continued listing requirements by July 22, 2024.
For more information, visit the company’s website at www.assureneuromonitoring.com.
Assure Holdings Corp. (NASDAQ: IONM) held its virtual annual general meeting, where shareholders approved all matters outlined in the November 9, 2021 definitive proxy statement. Key approvals included the election of board nominees, re-appointment of auditors, executive compensation, and amendments to the stock option and equity incentive plans. The new stock and employee purchase plans were also approved, allowing for a maximum issuance of 2,367,260 shares under all plans combined. Approval from the TSX Venture Exchange is still pending for these amendments.
Assure Holdings Corp. (NASDAQ: IONM) has announced the completion of a non-brokered private placement, issuing 70,300 common shares at US$6.19 each, generating approximately US$435,000. This follows a prior offering that raised approximately US$4.75 million. The proceeds from both offerings will help fund growth initiatives, expand services, and support general working capital. The latest offering is pending final approval from the TSX Venture Exchange. Additionally, insider Preston Parsons acquired shares, altering his stake marginally.
Assure Holdings Corp. (NASDAQ: IONM) announced participation in two key investor conferences in December 2021. The Benchmark Company’s Discovery One on One Virtual Video Investor Conference is on December 2, focusing on micro-cap companies. Sidoti’s Virtual Microcap Investor Conference is set for December 8-9, with CEO John Farlinger scheduled to present on December 8 at 1:45 p.m. ET. Assure provides comprehensive intraoperative neuromonitoring services, recognized for high patient care standards and holding the Joint Commission’s Gold Seal of Approval.
Assure Holdings Corp. (NASDAQ: IONM) plans a non-brokered private placement of up to 70,300 common shares at $6.19 each, expected to raise approximately $435,000. The funds will be used to support a system-wide contract with Premier, Inc., expand remote neurology services, and enhance operational infrastructure. The offering is pending approval from the TSX Venture Exchange and is exempt from minority approval standards. All shares will be subject to a four-month hold period under Canadian and U.S. securities laws.
Assure Holdings Corp. (NASDAQ: IONM) announced an amendment to its $11 million credit facility with Centurion Financial Trust, allowing access to a second tranche of $3 million for organic growth and working capital. Previously, this tranche was reserved for acquisitions. The facility is secured by the company's assets and matures on June 9, 2025, with interest rates starting at 9.5%. The CEO stated this amendment enhances the capital structure and supports growth initiatives like a contract with Premier, Inc. Approval from the TSX Venture Exchange is still pending.
Assure Holdings Corp. (NASDAQ: IONM) reported a strong third quarter for 2021, with total revenue rising 113% to $8.5 million and managed cases increasing 86% to 4,996 compared to the previous year. The company achieved a net income of $0.1 million, a significant improvement from a net loss of $1.0 million, reflecting effective cost management and operational growth. Assure secured a contract with Premier Inc. and expanded its remote neurology services, indicating promising future revenue streams. The company forecasts over 17,000 managed cases for 2021, marking a 70% increase over 2020.
Assure Holdings Corp. (NASDAQ: IONM) has successfully closed a private placement, raising gross proceeds of $4.75 million at an issue price of $5.25 per share, with approximately 900,000 shares issued. Management anticipates a subsequent offering, potentially raising an additional $700,000. The funds will support a system-wide contract with Premier, Inc., expand its remote neurology platform, and enhance operations across new states. The offering is subject to TSX Venture Exchange approval.
Assure Holdings Corp. (NASDAQ: IONM) will hold a conference call on November 15, 2021, at 4:30 p.m. ET to discuss its Q3 financial results for the period ending September 30, 2021. The call will be accessible via live webcast and audio-only options. A replay will be available after 7:30 p.m. ET on the same day until November 29, 2021. The company is recognized for providing a comprehensive suite of intraoperative neuromonitoring services, ensuring high patient care quality, and has earned The Joint Commission's Gold Seal of Approval.
Assure Holdings Corp. (NASDAQ: IONM) has signed a significant agreement with The MultiPlan Network to enhance network access for commercial insurance payors in the U.S. This deal is expected to streamline payment collection for intraoperative neuromonitoring services, potentially increasing Assure's commercial insurance volume significantly over the next year. The agreement, effective August 15, 2021, automatically renews annually unless terminated with a 180-day notice. Assure aims to develop a competitive in-network revenue stream, reducing risks and complexities in payment processes.
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.
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