Assure Holdings to sell IONM business assets to MPOWERHealth for $4.5m
In a significant move within the healthcare sector, Assure Holdings Corp, known for its expertise in intraoperative neuromonitoring (IONM) and remote neurology services, has announced the sale of certain assets of its IONM business to MPOWERHealth for up to $4.5 million. This deal, structured with an initial $2.5 million cash payment and an additional earnout payment of up to $2 million based on post-sale performance, encompasses most of Assure’s healthcare facility contracts and clinical equipment. Moreover, a majority of Assure’s employees will transition to MPOWERHealth, marking a pivotal shift in operations and personnel. However, Assure will retain several key assets, including its accounts receivable and its revenue cycle management team.
Scheduled to close around March 22, 2024, the asset sale is poised to significantly impact the strategic positioning of both companies within the healthcare industry. Assure’s Executive Chairman and CEO, John Farlinger, emphasized the deal’s alignment with Assure’s strategic objective of repurposing its business and facilitating the impending merger with Danam Health. Farlinger assures that MPOWERHealth will maintain the high-quality IONM services that Assure’s surgeon partners expect, with continuity in service provision by the existing team of neurophysiologists.
MPOWERHealth’s CEO, Scott LaRoque, heralded the acquisition as a testament to MPOWERHealth’s commitment to advancing surgical safety and patient outcomes through access to advanced technologies. LaRoque envisions this acquisition as a catalyst for enhancing clinical excellence and patient care within the IONM domain.
Assure Holdings Corp distinguishes itself as a premier provider of outsourced intraoperative neuromonitoring and remote neurology services. Its comprehensive clinical and operational services support a wide array of invasive procedures, employing highly trained technologists and physicians to ensure patient safety and surgical efficiency. Accredited by The Joint Commission, Assure pledges exceptional surgical care and a positive patient experience.
MPOWERHealth, based in Addison, Texas, serves an extensive network of over 400 physicians across 24 states, emphasizing the empowerment of better healthcare through innovative solutions. Its integrated physician network fosters collaboration among neuromusculoskeletal physicians, promoting quality improvements and providing top-tier neuromonitoring services to enhance conservative spine care accessibility.
This deal not only signifies a strategic realignment for Assure Holdings Corp but also reinforces MPOWERHealth’s position as a leader in providing critical IONM services, marking a significant step forward in the evolution of healthcare service provision and technological integration in surgical safety and patient care outcomes.