Assure Holdings Announces Acquisition of Neuro-Pro to Expand Intraoperative Neuromonitoring Portfolio

VCBeat (WeChat ID: vcbeat) learned from foreign media that on November 1, 2019, local time, Assure Holdings Corp. (“Assure,” stock ticker: OTCPINK: ARHH), a provider of intraoperative neurophysiological monitoring (IONM) services, announced the conditional acquisition of Neuro-Pro for $7 million. Under the agreement, Assure was required to pay $6 million of the purchase price by November 30, 2019.

Assure, founded in 2007 and headquartered in Colorado, USA, is a healthcare services company specializing in intraoperative neuromonitoring (IONM). It was listed on the U.S. OTC Markets Group in 2017 under the stock symbol OTCPINK: ARHH.

Surgical procedures involving the nervous system place patients’ neural structures at risk. Physicians typically employ various techniques to monitor these at-risk neural structures, known as intraoperative neuromonitoring (IONM). The goal of IONM is to detect changes in the function of the brain, spinal cord, and peripheral nerves to prevent complications that could lead to irreversible neurological injury. If a patient’s neural activity changes during surgery, technicians report this change to the surgeon, enabling the surgical or anesthesia team to take timely corrective measures.

Assure collaborates with neurosurgeons and orthopedic spine surgeons to provide a comprehensive suite of services supporting intraoperative neuromonitoring. Assure employs its own technicians and utilizes advanced monitoring equipment, enabling it to manage a wide range of procedures, from spinal cord monitoring to complex intracranial functional brain mapping.

Neuro-Pro, founded in 2012, is a medical technology company based in Zurich, Switzerland, specializing in the development of cutting-edge real-time neurophysiology applications. The company’s 14 technical specialists are currently providing services to 14 facilities.

John A. Farlinger, Executive Chairman and Chief Executive Officer of Assure, stated: “The acquisition of Neuro-Pro will accelerate Assure’s growth by providing important new surgeon and facility partners and expanding our existing service offerings. In the 12 months ended September 30, 2019, Neuro-Pro performed nearly 2,500 procedures, compared with approximately 5,100 procedures performed by Assure during the same period. Notably, approximately 95% of Neuro-Pro’s patients are covered by commercial insurance payers, whereas this proportion is approximately 50% for Assure’s patients, underscoring the positive strategic impact of this business combination on our revenue mix.”

Jason Papes, head of Neuro-Pro Monitoring, stated, “Neuro-Pro shares the same vision as Assure. Joining Assure will enable us to better serve our patients, employees, and surgeon partners, and we look forward to thriving together with Assure in the future.”

(Compiled by He Li)