Assure Holdings Expands into Telehealth for the Provision of IONM Services and Performs First Case
March 31 2021 - 8:30AM
Assure Holdings Corp. (the “
Company” or
“
Assure”) (TSXV: IOM; OTCQB: ARHH), a provider of
intraoperative neuromonitoring services (“
IONM”),
is pleased to announce that through its wholly owned subsidiary, it
expanded into telemedicine by launching professional neurology
services for IONM and performed its first case. The offering will
be a straightforward transition as the Company replaces a
third-party vendor with professional services furnished through a
wholly owned subsidiary.
“The Company’s expansion into telehealth
represents an important milestone in establishing Assure as the
standard of care in the IONM industry and a leading provider in the
United States,” said John A. Farlinger, Assure’s executive chairman
and CEO. “Providing this service enables Assure to offer hospitals,
surgeons and insurance payors a more robust and differentiated
offering.”
Farlinger continued, “Providing telehealth
neurology services ourselves will allow Assure to control quality
of service in all aspects of our IONM offering. This is a key
consideration for payors as we negotiate new in-network agreements,
strengthens our offering as we position to sell directly to
hospitals and enhances continuity with the surgeons we support. It
also creates potential for additional margin in existing operations
as well as new organic growth opportunities. In addition, we
believe providing this service will allow us to leverage our scale
in terms of case volume and facilitates the capture of a greater
share of revenue and margin on each IONM procedure.”
Farlinger concluded, “We consider our telehealth
function to be among Assure’s greatest potential market
opportunities. The initial roll-out of this offering will be
focused on providing telehealth neurology services to Assure
patients; however, we expect to expand and support other IONM
providers and hospitals. Further, we intend to market this offering
to doctors and medical groups that need telehealth neurology
services associated with epilepsy, electroencephalogram (EEG)
and sleep disorders, among other services.”
Assure recently made its first two hires
relating to the Company’s telehealth professional neurology
services. The Company is actively recruiting to fill additional
positions and expects to gradually ramp-up staffing for this
function over the course of 2021 and beyond.
About Assure HoldingsAssure Holdings Corp. is a
Colorado-based company that works with neurosurgeons and orthopedic
spine surgeons to provide a turnkey suite of services that support
intraoperative neuromonitoring activities during invasive
surgeries. Assure employs its own staff of technologists and uses
its own state-of-the-art monitoring equipment, handles 100% of
intraoperative neuromonitoring scheduling and setup, and bills for
all technical services provided. Assure Neuromonitoring is
recognized as providing the highest level of patient care in the
industry and has earned The Joint Commission’s Gold Seal of
Approval®. For more information, visit the Company’s website
at www.assureneuromonitoring.com.
Forward-Looking Statements
This news release may contain “forward-looking statements”
within the meaning of applicable securities laws, including but not
limited to: comments with respect to strategies; expectations;
planned operations; future actions of the Company; Assure becoming
a standard of care in the IONM industry; the offering of the
telemedicine services and the expected effects thereof; the
Company’s position in the IONM market; and the Company’s plan for
expansion of services offered. Forward-looking statements may
generally be identified by the use of the words "anticipates,"
"expects," "intends," "plans," "should," "could," "would," "may,"
"will," "believes," "estimates," "potential," "target," or
"continue" and variations or similar expressions. These statements
are based upon the current expectations and beliefs of management
and are subject to certain risks and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties include,
but are not limited to: the Company’s ability to successfully
establish its telemedicine offering; the effects of introducing the
telemedicine offering, may not be as expected; the Company may not
expand its telemedicine offering to other IONM providers; providing
the telehealth neurologist oversight function from within the
Company may not allow the Company to better negotiate new
in-network agreements and improve its revenue generated; the
Company may not offer its telehealth services to doctors and
medical groups for treatment of epilepsy,
electroencephalogram (EEG) and sleep disorders; the Company
may not hire additional staff to provide its telehealth services;
the uncertainty surrounding the spread of COVID-19 and the impact
it will have on the Company’s operations and economic activity in
general; that the Company’s actions taken during the COVID-19
health crisis will be effective; and the risks and uncertainties
discussed in our most recent annual and quarterly reports filed
with the Canadian securities regulators and available on the
Company’s profile on SEDAR at www.sedar.com, which risks and
uncertainties are incorporated herein by reference. Readers are
cautioned not to place undue reliance on forward-looking
statements. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Except as required by law, Assure does not intend, and undertakes
no obligation, to update any forward-looking statements to reflect,
in particular, new information or future events. Any and all
forward-looking information contained in this news release is
expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
ContactScott Kozak, Investor and Media
RelationsAssure Holdings
Corp.1-720-287-3093Scott.Kozak@assureiom.com
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