Now trading on the
NASDAQ
Latest News
This “Under-the-Radar” Surgical Telehealth and Neuromonitoring Provider Just Hit A Quarterly Procedure Record, Now Trading on the NASDAQ
Click to read press release about nasdaq listing
Never Miss an Update!
Click here to get a FREE copy of Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) latest investor report.
See Presentation
Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM), a small but growing publicly traded neuromonitoring and telehealth solutions provider in the neurology space recently announced that the company set a new monthly billing and cash collection record of
$ 2.7 million in June 2021.
In addition, Assure Neuromonitoring, known for providing Joint Commission accredited outsourced IONM or intraoperative neuromonitoring services during complex surgical operations, set a company record of performing more than
4,200 procedures in the second quarter of 2021.
If you’re looking to build an early portfolio position in the young telemedicine sector, and want to stick with a “pure-play” investment opportunity… keep an eye on Assure Neuromonitoring
(NASDAQ: IONM | TSX.V: IOM).
Get notified about recent updates
IONM identifies real-time changes in spinal cord, brain, and peripheral nerve functions during high-risk surgeries to prevent injuries or accidental damage to patients that could lead to strokes, heart attacks, paralysis or other serious medical issues.
IONM has become the standard of care in U.S healthcare, and Assure employs highly trained, board-certified IONM technologists, which provide a direct point of contact in the operating room to relay critical information to the surgical team while a remote neurologist, offers professional oversight in support of the surgical team.
Surging Demand For IONM Services…
While some hospitals and surgical centers have retained their own in-house IONM team or use a staffing agency to provide these services, outsourced providers like Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) now make up a majority of the market.
The ability to outsource IONM services allows hospitals and medical facilities to streamline billing and cost, cover skills gaps, and helps ensure patient quality of life after surgery by reducing injuries.
In addition, outsourced providers are gaining ground by providing necessary or “on-demand” resources when a constant, full-time staff isn’t available or needed.
Highly fragmented, the $970 million dollar outsourced IONM market in the U.S. is growing. With a 10.3% compound annual growth rate, the industry is expected to become a $1.1 billion dollar market by 2022.
Larger hospitals and surgical centers who provide their own IONM (“in-house”) services represent an additional $850 million market opportunity as outsourcing opportunities becomes the preferred solution.
Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM), the only publicly traded “pure-play” IONM provider in the market, has grown its network to
127 hospitals across 11 states including Texas, Colorado, Michigan, and Pennsylvania.
While building out the infrastructure to provide upwards of 50,000 procedures over the next few years, Assure Neuromonitoring has seen an
226% increase in demand for their services since 2018.
Undeterred by the COVID-19 pandemic, Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) still managed a
54% increase in procedures performed in 2020.
Never Miss an Update!
An Aggressive Expansion Strategy, Now Available on the NASDAQ under IONM
Besides providing top quality surgical support and sophisticated medical billing services, a large part of Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) growth strategy has been their strategic acquisitions of smaller competitors.
In less than two years, Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) has acquired three IONM outsourcing providers. The largest acquisition, Sentry Neuromonitoring, increased the company’s procedure volume by more than 50%.
Another factor driving procedure growth at Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) was the company’s March 2021 expansion into telemedicine by launching professional neurology services for IONM.
The telehealth offering is a simple transition as the company replaces a third-party vendor. Bringing the function inside the organization creates a new and valuable revenue stream for Assure and adds organic growth opportunities to the new business development pipeline.
It also sharply reduces cost of delivery, improving margins and profitability. The Company considers its telehealth offering to be a primary growth driver going forward.
Currently, Assure’s telehealth offers neurology services for their own patients and partners. However, it expects to quickly deliver these same services to hospitals and competitors that need a partner to supply telehealth neurology services for IONM.
The third growth leg is the basis for generating new business in adjacent markets that are also served by remote neurology services such as EEG, stroke and epilepsy as the platform broadens.
M&A activity, the launch of telehealth neurology services and continued strong organic growth led to the company raising its 2021 procedure guidance to
17,000 procedures, an increase of more than 70% compared with 2020. Management expects to generate a similar rate of growth in 2022.
Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) is finding the outsourced IONM market ripe with opportunity. With Executive Chairman and CEO John A. Farlinger, recently stating…
“Looking forward, we are focused on supporting and sustaining our rapid growth in scale, building out a robust revenue cycle management function, taking advantage of accretive acquisitions, while fostering swift integrations and launching a telehealth offering for neurologist services that we consider our single most important opportunity.”
Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) is also cornering the market for talent. With only 6,000 trained, board-certified neuromonitoring technologists in the United States, the company now employs more than 80 of them.
Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) has many competitors that are using IONM technicians who are not board certified and therefore unable to provide the surgeons they work with a similar level of clinical support or patient care.
With a solid recruitment strategy in place to hire and train additional IONM technicians alongside an investment in data-driven clinical research relating to the safety and efficacy of IONM, Assure is intent on further improving its 97% year-over-year surgeon retention rate.
Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) 81.9% Compound Annual Growth Rate (CAGR) from 2017-2020 combined with an aggressive growth strategy and a market hungry for outsourced IONM services prompted the company to apply for stock listing on the NASDAQ.
The move completed in September 2021, has exposed Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) to a much larger investor audience.
Get notified about recent updates
Balance Sheet Focused Leadership…
Founded by former NFL quarterback Preston Parsons in 2015, Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) has quickly become one of the fastest growing providers of outsourced IONM services in the United States.
Parsons, who now serves on the board of directors and is active in the company’s new business development efforts, has helped drive strong organic growth, expanding the company’s operational footprint from its home base of Colorado across 11 states over the past three years.
Executive Chairman and CEO John A. Farlinger has worked to strengthen Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) financial position, launch its telehealth offering for neurology services and spearhead the company’s aggressive M&A strategy.
The approach is paying off for Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) as the decision to terminate an ineffective 3rd party billing provider and bring its revenue cycle management function inside the organization in 2020.
The move led to record annual cash collections of $23.9M in fiscal year 2020. Up from $15.9M in 2019. The Company has invested heavily in automation, data warehousing and leadership talent for this function to drive gains in billing and collections.
The other major factor positively impacting collections at Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) is the development of an in-network revenue stream. These agreements with insurance payors help Assure reduce risk, minimize complexity, accelerate the timing of payments and protect liquidity.
Overall, across all markets, the company has more than 30% of its total commercial volume in contractual rates with payors, and has a goal to reach 50% by the end of 2021. Most competitors remain entirely out-of-network, lacking the scale in terms of procedure volume and the organizational expertise to strike similar deals with insurance payors.
From a financial strength perspective, Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) completed a private placement of $10.5M in December 2020 with significant institutional investor as well as insider participation.
An additional $11 million dollar credit facility secured in June 2021 expanded capitalization of the company’s already strong balance sheet.
Bolstering relationships with insurance companies, surgeons, and hospitals will further strengthen Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) growing position as a leading provider of outsourced IONM services into 2022 and beyond.
Click here to get a FREE copy of Assure Neuromonitoring (NASDAQ: IONM | TSX.V: IOM) latest investor report.
See Presentation
© 2021 Tips for Traders. All rights Reserved.
DISCLAIMERS
PAID ADVERTISEMENT
This communication is an advertisement. Tips for Traders is a brand name of IRPub LLC, its owners, directors, officers, employees, affiliates, agents, and assigns (collectively the “Publisher”) is often paid by one or more of the profiled companies or a third party to disseminate these types of communications. In this case, the Publisher has been compensated by Assure Neuromonitoring LLC. to conduct public investor awareness, distribution, and investor education marketing for a period of 30 days. Assure Neuromonitoring LLC. has paid the Publisher the equivalent of One-Hundred Thousand USD to produce and disseminate this and other similar articles and certain related banner advertisements. This compensation should be viewed as a major conflict with the Publisher’s ability to provide unbiased information or opinion.
CHANGES IN SHARE TRADING AND PRICE
Readers should beware that third parties, profiled companies, and/or their affiliates may liquidate shares of the profiled companies at any time, including at or near the time you receive this communication, which has the potential to adversely affect share prices. Frequently companies profiled in our articles experience a large increase in share trading volume and share price during the course of investor awareness marketing, which often ends as soon as the investor awareness marketing ceases. The investor awareness marketing may be as brief as one day, after which a large decrease in share trading volume and share price may likely occur.
NO OFFER TO SELL OR BUY SECURITIES
This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security.
INFORMATION
Neither this communication nor the Publisher purports to provide a complete analysis of any company or its financial position. This communication is based on information generally available to the public and on an interview conducted with the company’s CEO and does not contain any material, non-public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher does not guarantee the accuracy or completeness of the information. Further, the information in this communication is not updated after publication and may become inaccurate or outdated. No reliance should be placed on the price or statistics information and no responsibility or liability is accepted for any error or inaccuracy. Any statements made should not be taken as an endorsement of analyst views.
NO FINANCIAL ADVICE
The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser, or a financial adviser. The Publisher has no access to non-public information about publicly traded companies. The information provided is general and impersonal and is not tailored to any particular individual’s financial situation or investment objective(s) and this communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor or a personal recommendation to deal or invest in any particular company or product. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company’s SEC, SEDAR, and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk. Past performance does not guarantee future results.
FORWARD-LOOKING STATEMENTS
This communication contains forward-looking statements, including statements regarding the expected continual growth of the featured companies and/or industry, potential for acquisitions and mergers, and potential groundbreaking developments. Statements in this communication that look forward in time, which include everything other than historical information, are based on assumptions and estimates by our content providers and involve risks and uncertainties that may affect the profiled company’s actual results of operations. These statements involve known and unknown risks, uncertainties, and other important factors that could cause the actual results and performance to differ materially from any future results or performance expressed or implied in the forward-looking statements. These risks, uncertainties, and other factors include, among others: the success of the profiled company’s operations; the size and growth of the market for the company’s products and services; the company’s ability to fund its capital requirements in the near term and long term; pricing pressures; changes in business strategy, practices or customer relationships; general worldwide economic and business conditions; currency exchange and interest rate fluctuations; government, statutory, regulatory or administrative initiatives affecting the company’s business.
INDEMNIFICATION/RELEASE OF LIABILITY
By reading this communication, you acknowledge that you have read and understood this disclaimer in full, and agree and accept that the Publisher provides no warranty in respect of the communication or the profiled company and accepts no liability whatsoever. You acknowledge and accept this disclaimer and that, to the greatest extent permitted under applicable law, you release and hold harmless the Publisher from any and all liability, damages, injury, and adverse consequences arising from your use of this communication. You further agree that you are solely responsible for any financial outcome related to or arising from your investment decisions.
TERMS OF USE AND DISCLAIMER
By reading this communication you agree that you have reviewed and fully agree to the Terms of Use found here Irpub.com/disclaimers_Disclosures.php and acknowledge that you have reviewed the Disclaimer found here:https://irpub.com/disclaimers_disclosures.php. If you do not agree to the Terms of Use, please contact tipfortrnsfer.wpenginepowered.com to discontinue receiving email communications.
INTELLECTUAL PROPERTY
All trademarks used in this communication are the property of their respective trademark holders. Other than IRPub.com, the Publisher is not affiliated, connected, or associated with, and the communication is not sponsored, approved, or originated by, the trademark holders unless otherwise stated. No claim is made by the Publisher to any rights in any third-party trademarks other than tipfortrnsfer.wpenginepowered.com.
AUTHORS PARTNER CONTENT
All of the content found on this page was authored by our 3rd party affiliate partner. Tips for Traders, IRPub LLC, and our affiliates are not responsible for the content or accuracy of this article.
Tips for Traders, IRPub LLC, DO NOT hold any position in the stock(s) and/or financial instrument(s) mentioned in the above piece. We have been paid to produce this piece by the Company or companies mentioned above.