Assure Holdings Entered Into Agreement To Sell Certain Of Its Assets To MPOWERHealth For Up To $4.5M
Portfolio Pulse from Charles Gross
Assure Holdings Corp. (NASDAQ:IONM) has agreed to sell certain assets of its intraoperative neuromonitoring (IONM) business to MPOWERHealth for up to $4.5 million. The deal includes $2.5 million in cash upfront and up to $2.0 million in potential earnout payments based on case volume over the next 12 months. The sale encompasses most of the company's healthcare facility contracts and clinical equipment, along with a majority of its employees, while retaining its accounts receivable and revenue cycle management team.
March 11, 2024 | 10:29 pm
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Assure Holdings is selling significant assets of its IONM business to MPOWERHealth for up to $4.5 million, which includes healthcare facility contracts, clinical equipment, and a majority of its employees.
The sale of significant assets of Assure Holdings' IONM business to MPOWERHealth for a substantial amount signals a strategic move that could potentially streamline operations and focus on core competencies. The upfront cash payment of $2.5 million, along with the potential for an additional $2.0 million in earnout payments, provides immediate financial benefits and incentives for performance improvement. This transaction could be viewed positively by investors as it may improve the company's financial health and operational focus.
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