Assure Holdings Closes Sale of Certain Assets to MPOWERHealth On March 26, 2024 For Proceeds Of Up To $4.5M
Portfolio Pulse from Benzinga Newsdesk
Assure Holdings Corp. (NASDAQ:IONM) completed the sale of certain IONM business assets to MPOWERHealth for up to $4.5M on March 26, 2024. The deal includes $2.32M in cash and up to $2.18M in potential earnout payments. The sale encompasses healthcare facility contracts, clinical equipment, and most employees, while Assure retains some assets and its revenue cycle management team.
March 28, 2024 | 12:39 pm
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Assure Holdings Corp. has sold certain assets of its IONM business to MPOWERHealth for up to $4.5 million, including cash and potential earnouts, retaining some assets and its revenue cycle management team.
The sale of assets for up to $4.5 million could positively impact Assure Holdings' liquidity and financial position in the short term. The retention of certain assets and the revenue cycle management team suggests a strategic move to focus on core competencies and potentially improve operational efficiency. This could be viewed positively by investors, leading to a potential short-term increase in stock price.
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