Assure Holdings Corp. (IONM): history, ownership, mission, how it works & makes money

A Brief History of Assure Holdings Corp. (IONM)

Company Overview

Assure Holdings Corp., trading under the ticker symbol IONM, is a leader in intraoperative neuromonitoring (IONM) services. Established in 2017, the company specializes in providing real-time data to enhance surgical procedures and improve patient outcomes.

Initial Public Offering

Assure Holdings Corp. went public on the NASDAQ on December 30, 2019. The company offered 2 million shares at a price of $5.00, raising approximately $10 million in capital.

Acquisitions and Growth

In 2020, Assure made significant strides in expanding its operational footprint. The company acquired the assets of Surgical Monitoring Services, LLC, enhancing its service capabilities across various states. In the same year, the company reported revenues of approximately $11.6 million, an increase from the previous year.

Financial Performance

Recent Developments

As of 2023, Assure has continued to expand its market presence, particularly in the Southeastern United States. In the first half of 2023, the company reported a revenue of $25.2 million, indicating a strategic shift in operational efficiency and service offerings.

Market Competitors

• Neuro Monitoring, LLC
• SpecialtyCare
• Medtronic PLC
• Sentient Medical

Strategic Initiatives

Assure Holdings Corp. has pursued several strategic initiatives aimed at enhancing its service model and technology integration into surgical procedures. These include partnerships with leading hospitals and investment in cutting-edge neuromonitoring technology.

Outlook

Looking ahead, Assure Holdings Corp. aims to continue its trajectory of growth with an estimated revenue target of approximately $40 million by the end of 2024, driven by ongoing market expansion and improved service delivery.

Conclusion

Assure Holdings Corp. has established itself as a significant player in the intraoperative neuromonitoring industry, with consistent growth and expansion since its inception. The company's strategic initiatives and acquisitions position it well for future success.

A Who Owns Assure Holdings Corp. (IONM)

Shareholder Structure

Assure Holdings Corp. (IONM) has a diverse group of shareholders. As of the latest available data in October 2023, the following table illustrates the ownership distribution among major shareholders:

Insider Ownership

The following table details the key insiders holding shares in Assure Holdings Corp.:

Institutional Investors

Institutional investors play a significant role in the capital structure of Assure Holdings Corp. The table below shows the top institutional investors as of October 2023:

Recent Share Price and Market Capitalization

As of October 2023, the stock price of Assure Holdings Corp. was reported at $2.50 per share, resulting in a market capitalization of:

Market Capitalization: $25 million

Trading Volume

The average trading volume for the company over the past month has been:

Average Trading Volume: 150,000 shares per day

Future Projections

Analysts project the following growth metrics for Assure Holdings Corp. for 2023:

• Expected Revenue Growth: 25%
• Projected Earnings: $1 million
• Estimated EBITDA Margin: 20%

Conclusion on Ownership Insights

The ownership structure of Assure Holdings Corp. is significant in understanding its governance and operational direction. Key insiders and institutional investors provide a mix of stability and strategic input for the company's future.

Assure Holdings Corp. (IONM) Mission Statement

Corporate Vision

The vision of Assure Holdings Corp. (IONM) is to be a leading provider of intraoperative neuromonitoring services, ensuring patient safety and optimizing surgical outcomes through advanced technology and dedicated specialists.

Core Values

• Integrity: Commitment to ethical practices and transparency in all interactions.
• Innovation: Pursuing advanced technology to enhance patient care.
• Collaboration: Fostering partnerships with healthcare professionals for comprehensive care.
• Excellence: Striving for the highest standards in service and outcomes.

Strategic Goals

The strategic goals include:

• Expand service offerings across the United States.
• Increase market share by at least 15% annually.
• Invest in cutting-edge technology to enhance monitoring services.
• Achieve patient satisfaction rates exceeding 95%.

Financial Overview

Assure Holdings Corp. reported the following financial figures for the year ending December 31, 2022:

Commitment to Patient Safety

Assure Holdings Corp. emphasizes its commitment to patient safety through:

• Implementation of strict protocols for neuromonitoring procedures.
• Continuous training and certification of staff in the latest techniques.
• Use of state-of-the-art equipment for real-time monitoring.
• Regular audits to ensure compliance with health standards.

Market Position and Competitive Advantage

As of 2023, Assure Holdings Corp. holds a market position characterized by:

• Presence in 30+ states across the U.S.
• Partnerships with over 200 surgical hospitals and facilities.
• Continuous growth with a projected annual growth rate of 20%.

Future Outlook

For the fiscal year 2023, Assure Holdings Corp. anticipates:

• Expected revenue of approximately $18 million.
• Investment in technology upgrades estimated at $1 million.
• Expansion to 10 new states, increasing service coverage.

Community Engagement

The company engages with communities through:

• Hosting educational seminars on the importance of neuromonitoring.
• Participating in local health fairs and events.
• Offering pro bono services for underprivileged populations.

Conclusion

Assure Holdings Corp. is dedicated to its mission of improving patient outcomes through state-of-the-art neuromonitoring, guided by its core values and strategic goals.

How Assure Holdings Corp. (IONM) Works

Overview of Assure Holdings Corp.

Assure Holdings Corp. is a leading provider of intraoperative neuromonitoring (IONM) services, specializing in the protection of the nervous system during surgical procedures. The company’s services are critical in ensuring patient safety and improving surgical outcomes.

Business Model

The business model of Assure Holdings Corp. centers around providing neuromonitoring services in real-time during surgeries. The company employs a team of certified professionals who monitor patients' neurological functions, with the aim of preventing potential complications. Assure generates revenue primarily through:

• Fee-for-service contracts with hospitals and surgical centers
• Partnerships with surgeons and healthcare providers
• Potential expansion into telehealth services for remote monitoring

Financial Performance

As of Q3 2023, Assure Holdings Corp. reported the following key financial metrics:

Market Presence

Assure Holdings operates primarily in the United States, with a growing presence in various states. The company has established relationships with over 200 hospitals and surgical centers. In 2023, the market for IONM services in the U.S. was valued at approximately $1.5 billion, with expected growth of 9% annually.

Services Offered

Assure Holdings provides a range of services, including:

• Intraoperative neuromonitoring for various surgical specialties
• Preoperative consultations to assess risks
• Postoperative follow-up services

Technology Utilization

The company employs advanced monitoring technologies to ensure real-time data collection and analysis. Some of the technologies used include:

• Electromyography (EMG)
• Somatosensory evoked potentials (SSEP)
• Transcranial magnetic stimulation (TMS)

Growth Strategy

Assure Holdings aims to expand its service offerings and market reach through strategic initiatives such as:

• Acquisitions of complementary service providers
• Investment in technology to improve service delivery
• Expansion into new geographic markets

Industry Trends

The IONM industry is influenced by several trends including:

• Increased awareness of patient safety
• Technological advancements in monitoring equipment
• Growing demand for minimally invasive surgeries

Regulatory Environment

Assure Holdings operates under strict regulatory frameworks set by the Centers for Medicare & Medicaid Services (CMS) and various state health departments. Compliance with these regulations is critical for operational success.

How Assure Holdings Corp. (IONM) Makes Money

Revenue Streams

Assure Holdings Corp. generates revenue primarily through intraoperative neuromonitoring (IONM) services. The company provides monitoring services during surgical procedures to reduce the risk of neurological damage.

Service Fees

The revenue from service fees constitutes the largest portion of Assure’s income. According to their Q2 2023 financial report, Assure Holdings Corp. reported revenue of $12 million for the quarter, reflecting an increase of 20% year over year.

Contracts and Partnerships

Assure secures contracts with hospitals and healthcare facilities to provide IONM services. As of the latest report, they have approximately 200 active contracts across various states in the U.S.

Billing and Reimbursement

Assure Holdings has a well-structured billing process that includes direct billing to insurance providers, which accounts for about 90% of their total revenue. The average billing per procedure is approximately $1,500.

Geographic Expansion

Assure Holdings is actively expanding its geographic footprint, with a focus on high-demand states. Currently, about 60% of their revenue comes from Florida and Texas alone.

Technology and Innovation

Investment in technology is critical for enhancing service efficiency. In 2023, Assure invested $3 million in advanced neuromonitoring technologies, which are expected to improve the quality of service and enhance revenue by potentially attracting more clients.

Market Trends

The neuromonitoring market is projected to grow at a CAGR of 10% from 2023 to 2030, supporting Assure’s growth strategy. The total market size is expected to reach $4 billion by 2030.

Cost Structure and Profit Margins

Assure Holdings maintains a cost of revenue percentage that averages around 60%, allowing for gross profit margins of approximately 40%. The effective management of operational costs is key to maintaining these margins.