Home / Forex & Currency Exchange News / Will Neuromonitoring Start-Up Be Able to Maintain Rapid Growth?

Will Neuromonitoring Start-Up Be Able to Maintain Rapid Growth?

By The Life Science Report

Source: Streetwise Reports  (8/18/17)

A neuromonitoring startup that saw explosive growth in Q1/17 plans to release second quarter financials next week.


After more than two years of preparation, Assure Holdings Corp. (IOM:TSX.V; ARHH:OTCQB) began publicly trading at the end of May under the symbol IOM on the TSX Venture Exchange, and began trading on Aug. 2 on the OTC Bulletin Board in the U.S., under the symbol ARHH.

For Q1/17, the company reported revenue of $3.9 million and earnings (EBITDA) of $3.2 million. Assure’s audited financial results for 2016, the first year it had revenue, show $5.52 million in revenue and $4.3 million in EBITDA.

The company has announced that it will release second quarter earnings on Aug. 22.

As investors ponder whether Assure can keep up the explosive growth reflected in the first quarter, second quarter increases in revenue will be partly offset by one-time expenses related to the IPO listing, as well as an increase in expenses as sales and marketing into new geographies ramps up.

The company has created a business model, through its wholly owned subsidiary Assure Neuromonitoring, to deliver efficient Intraoperative Neurophysiologic Monitoring (IONM) for invasive surgeries. Using its knowledge of the business of medicine, the company offers a service that improves outcomes for patients, reduces administration for physicians and creates surprisingly large cash flows for investors.

Preston Parsons is Assure’s founder and executive chairman. He has a decade of experience with orthopedic device sales and clinical operations. His firsthand experience provided him with the idea to create a better way to deliver IONM. Parsons was an NFL quarterback for six years, playing for four different teams, including the Denver Broncos from 2005 until 2007. Assure’s president, Matthew Willer, has had leadership roles in several successful startups that have included U.S.-operated TSX.V listings.

The vast majority of spinal surgeries and many other invasive neurosurgeries in the U.S. are observed by a dedicated technician that monitors biomedical equipment during the procedure to detect neurological signals that indicate the real-time status of the patient. The data allows the surgeon to continuously react to patient feedback. According to the company, “research has proven IONM to be effective in decreasing the chance of nerve damage and providing patients with better clinical outcomes.”

IONM Delivery by Third Party Staffing
In private practice, there are two staffing models to provide IONM services. In many cases, the IONM service is provided by a third party medical technician via a staffing company that also provides the billing for the service. Surgeons may have one technician today and another tomorrow. Technicians are often treated like a commodity.

IONM Managed by the Surgeon
In the second staffing model, the surgeon coordinates the IONM services. The challenge for the surgeons is the increase in administrative overhead, the billing challenges associated with billing for a service that is subordinate to their expertise. Many surgeons would simply rather not deal with managing and administrating IONM.

Assure’s Solution
Assure hires IONM technicians and enables the building of an ongoing relationship between the technician and the surgeon. Assure manages the scheduling, equipment provisioning, billing and collection for IONM services so that surgeons can focus on case delivery. Assure provides the coding and billing for IONM procedures as well as dealing with payors and health plans.

Target Market
At present, the core business relationship for Assure is with the spinal and neurosurgeons in private practice. To date it has only operated in Colorado. The next step for Assure is to expand the number of surgeons using Assure’s services in Colorado and to expand to nearby states. On June 22 Assure announced the hiring of George Sims as director of business development; according to the company, he will focus on expanding business in multiple Western states.

Want to read more Life Sciences Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or family own, shares of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: None. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this interview, officers and/or employees and a research consultant of Streetwise Reports LLC (including members of their household) own securities of Assure Holdings Corp., a company mentioned in this article.

Click Here For Original Source Of The Article

About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

Check Also

USD bulls roar back into life

USD bulls roar back into life

Article by ForexTime There has been some big news in the late evening trading session as it appears that Muller has subpoenaed documents from the Trump organisation relating to Russia, which has spooked equity markets as a result. However, the big story of the day has been the strength of the USD. It would seem […]

Leave a Reply

Your email address will not be published. Required fields are marked *