Assure Holdings Closes Sale of Certain Assets to MPOWERHealth On March 26, 2024 For Proceeds Of Up To $4.5M

Author: Benzinga Newsdesk | March 28, 2024 08:39am

Assure Holdings Corp. (the "Company" or "Assure") (NASDAQ:IONM), a provider of intraoperative neuromonitoring ("IONM") and remote neurology services, today announced that it closed the sale of certain assets of its IONM business to MPOWERHealth on March 26, 2024. The sale includes proceeds of up to $4.5 million, of which $2.32 million was paid in cash at the initial closing and up to an additional $2.18 million to be paid in relation to a potential earnout payment tied to case volume from the acquired assets during the 12-month period following the initial closing. The asset sale includes most of the Company's healthcare facility contracts and clinical equipment, and a majority of the Company's employees. The Company retains certain of its assets, including but not limited to, its accounts receivable and its employees in the revenue cycle management team.

Posted In: IONM