DENVER, January 6, 2023 (GLOBE NEWSWIRE) — Assure Holdings Corp. (“company” Also “Guarantee) (NASDAQ: IONM), provider of intraoperative neuromonitoring (“IONM”) and Remote Neurology Services are pleased to announce that they have completed the acquisition on December 31, 2022 (“acquisition“) substantially all assets of Neuroprotect Neuromonitoring, LLC, and certain of its affiliated entities (collectively, “Nerve Pro), Colorado Cerebrospinal Institute (“CBSIMore”). Specifically, it insures accounts receivable for services after December 1, 2022, and NervePro’s material contracts, business relationships, and other tangible assets.
NervePro’s operations are based in the Denver metropolitan area, Colorado. In 2022, NervePro conducted approximately 750 of her IONM managed cases covered by private insurance companies, and at seven facilities he employed his three technicians to support five surgeons. .
Assure Chairman and CEO John A. Farlinger said: Current employee footprint and revenue cycle management capabilities. This acquisition is expected to improve our financial position. Additionally, in 2023 and beyond, he plans to improve NervePro’s historical per-procedure earnings. ”
Farlinger continues: Assure seeks to identify additional his IONM assets that he believes can be made more valuable on our platform by leveraging their strengths in revenue cycle management and other functional areas. . We are pleased to offer Assure shareholders the opportunity to profit from what we believe will be an increasing deal. ”
Dr. J. Paul Elliott is president and CEO of CBSI and a board-certified neurosurgeon specializing in brain, spine and peripheral nerve procedures. He is a graduate of Stanford University and Columbia University’s Bagueros College of Physicians and Surgeons.
Dr. Elliott commented: I appreciate ASURE’s focus on improving measurement, reporting and clinical quality to meet the goals prioritized by the surgeons and hospitals we work with. ”
Pursuant to the acquisition, and in consideration of the acquired assets, Assure issued to NervePro 1,500,000 shares of its common stock (“common stock”) to register such shares of common stock for resale with the Securities and Exchange Commission under the Securities Act of 1933, as amended, at a deemed price of $0.26 per share based on the closing price on December 30, 2022; You agree to do your best and before January 31, 2023.
Advisory agreement with Roth Capital Partners
Assure has engaged Roth Capital Partners, LLC (“Roth”) as financial advisor in connection with:
- Analyzing future operating prospects related to the company, its business, industry, competition, expected cash flow requirements and valuation of the company.
- A review of the company’s capital requirements and potential funding sources.
- Identify and introduce potential investors and assist in communications and presentations by the company to such potential investors.When
We agreed to pay Roth for our services by issuing him warrants to purchase 180,000 shares of our common stock at an exercise price of $1.40 per share for a period of five years.
About Assure Holdings
Assure Holdings Corp. is a best-in-class provider of outsourced intraoperative neuromonitoring and telemedicine services. The Company provides clinical and operational services to support surgeons and medical facilities during invasive procedures that compromise the nervous system, including neurosurgical, spinal, cardiovascular, orthopedic, ear, nose and throat surgeries. Offer a turnkey suite. Assure employs highly trained technicians and provides a direct point of contact in the operating room. Physicians employed through Assure subsidiaries communicate in real-time with surgeons and technicians while simultaneously monitoring the functional integrity of a patient’s neural structures during surgery. Accredited by The Joint Commission, Assure’s mission is to provide superior surgical care and a positive patient experience. For more information, please visit the company’s website at www.assureneuromonitoring.com.
This news release contains “forward-looking statements” within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995. Such statements include, among other things, comments regarding our expectations regarding our growth and development. , the impact on us of the acquisition of the NervePro assets, and our expectations regarding future service quality and results; Forward-looking statements generally use words such as “anticipate,” “expect,” “intend,” “plan,” “should,” “could,” “would,” and “may.” may be identified by the use of the words “may” and “will”. “believe,” “estimate,” “could,” “target,” or “continue,” and variations or similar expressions. These statements are based on management’s current expectations and beliefs and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. receive. These risks and uncertainties include, but are not limited to: the uncertainties surrounding the impact of COVID-19 on our operations and business, our tele-neurology business and our economic activity generally; Risks and uncertainties discussed in our most recent annual and quarterly reports filed with the U.S. Securities and Exchange Commission, including our annual report on Form 10-K filed on March 14, 2022 , available in our EDGAR profile at www.sec. These risks and uncertainties are incorporated herein by reference. Except as required by law, Assure does not intend and undertakes no obligation to update any forward-looking statements, particularly to reflect new information or future events.
Scott Kozak, Investor and Media Relations
Assure Holdings Co., Ltd.