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Assure Holdings Corp. (NASDAQ:IONM) shares are trading higher by 38% to $0.47 during Tuesday’s session after the company announced that it entered into an agreement to sell certain assets to MPOWERHealth.
Assure Holdings has announced an agreement to sell certain assets of its intraoperative neuromonitoring (IONM) business to MPOWERHealth for up to $4.5 million. The deal involves $2.5 million in cash upfront, with an additional $2.0 million contingent on case volume in the year following the initial closing.
The sale includes healthcare facility contracts, clinical equipment, and a majority of Assure’s employees. The company will retain some assets, such as accounts receivable and employees in revenue cycle management.
The initial closing is subject to customary conditions and is expected to occur around March 22, 2024. Assure’s CEO sees this as a step towards repurposing the business and merging with Danam Health.
MPOWERHealth’s CEO sees the acquisition as enhancing their position in IONM services, emphasizing a commitment to surgical safety and patient outcomes.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Assure Hldgs’s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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According to data from Benzinga Pro, IONM has a 52-week high of $6.93 and a 52-week low of $0.20.
Posted In: IONM
