Assure Reports a Record Number of Monthly Procedures in October 2020
Company Launches Two IONM-Related Clinical Research Projects
DENVER, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Assure Holdings Corp. (the “Company” or “Assure”) (TSXV: IOM; OTCQB: ARHH), a provider of intraoperative neuromonitoring services (“IONM”), announced its highest ever number of monthly procedures during October 2020.
“The Company reported our highest number of monthly procedures in October, managing nearly 1,000 cases. Year-to-date through October, we have performed approximately 7,700 cases,” said John A. Farlinger, Assure’s executive chairman and CEO. ”Although we are continuing to carefully monitor the impact of COVID-19 in all states within our operational footprint, I am pleased to report particular strength in our two largest markets, including a record performance in Colorado and our second highest month ever in Texas.”
IONM Clinical Research Projects Launched
Assure’s Research and Innovation Team has initiated its first two clinical research projects in collaboration with surgeons at the internationally renowned Texas Back Institute.
Farlinger continued, “Assure believes it will be a leader in the development of clinical research relating to IONM. We envision numerous ways that this research will help Assure and the IONM industry as a whole, including facilitating improvements in integration, techniques and tools available, as well as the advancement and optimization of patient care. Further, given the importance payors put on data-driven studies, we believe this research will support Assure's effort to sign in-network insurance agreements and highlight the value we provide related to IONM efficacy, safety, cost saving and improving patient outcomes.”
About Assure Holdings
Assure 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.
This press release includes certain measures which have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as monthly procedures performed. The non-IFRS measures presented are unlikely to be comparable to similar measures presented by other issuers. References to monthly procedures performed are monitored by the Company. None of the foregoing non-IFRS measures is an earnings measure recognized by IFRS and do not have a standardized meaning prescribed by IFRS. Management believes that monthly procedures performed is an appropriate measure in evaluating the Company’s performance. Readers are cautioned that monthly procedures performed should not be construed as alternatives to net income (as determined under IFRS), as indicators of financial performance or to cash flow from operating activities (as determined under IFRS) or as measures of liquidity and cash flow.
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; the number of procedures monitored by the Company; the Company’s number of monthly procedures performed by the Company; the demand for the Company’s IONM services; the Company’s position as a leader in the development of clinical research relating to IONM and the Company’s ability to sign in-network agreements. .. 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 uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company’s operations and economic activity in general; the Company’s number of monthly procedures may not continue to rise an achieve record breaking numbers in the final two months of 2020;the Company may not continue to be a leader in the IONM industry; the Company may discontinue its development of clinical research relating to IONM; the Company may not be successful in signing additional in-network agreements; 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. 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.
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.
Scott Kozak, Investor and Media Relations
Assure Holdings Corp.
John Farlinger, Chief Executive Officer
Assure Holdings Corp.
Released November 9, 2020