Assure Holdings to sell certain assets to MPOWERHealth for up to $4.5M

Assure Holdings Corp. announced that it has entered into an agreement to sell certain assets of its IONM business to MPOWERHealth for up to $4.5M, of which $2.5M will be paid in cash at the initial closing and up to an additional $2M 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. The initial closing of the sale of assets is subject to certain customary closing conditions and consents. The Company expects that the initial closing will occur on or around March 22, 2024. John Farlinger, Assure’s executive chairman and CEO, commented, “The sale of IONM assets to MPOWER provides Assure with a clear pathway to meet its strategic objective of repurposing our business and closing our merger with Danam Health. We are pleased that MPOWER will continue providing our surgeon partners with the high-quality IONM services they are accustomed to receiving using the same neurophysiologists they work with today.”