- Assure Holdings (IOM) has announced it has fully completed its acquisition of Sentry Neuromonitoring
- Sentry Neuromonitoring is one of the biggest IONM service providers in Texas
- Assure Holdings’ acquisition of Sentry Neuromonitoring will help the company’s organic growth with M&A opportunities
- Pursuant to the acquisition, Assure Holdings will pay US$3.5 million to Sentry
- Shares of Assure Holdings dipped 2.37 per cent to C$1.65 as of 3:53 p.m. EDT
Assure Holdings (IOM) has announced it has completed its acquisition of Sentry Neuromonitoring.
This has led the company to increase its 2021 guidance from 14,000 procedures to 17,000.
Located in Texas, Sentry Neuromonitoring is a Joint Commission-certified intraoperative neuromonitoring (IONM) company that serves primarily the Greater Huston region and extends to the Dallas, Ft. Worth and Austin areas.
The company’s acquisition of Sentry Neuromonitoring will help it with its strategic plan by augmenting its growth with merger and acquisition activities.
“This acquisition is expected to improve our financial position. In 2020, on an unaudited basis, Sentry generated approximately $5 million of cash receipts from revenue. As a result of this acquisition, we expect to unlock additional business opportunities in Texas, Missouri and Kansas. Further, we intend to improve Sentry’s historic per procedure revenue in 2021 and beyond,” John A. Farlinger, CEO and executive chairman of Assure Holdings, said in a release.
Following the acquisition, Assure Holdings will pay US$3.5 million to Sentry, which will be paid in two separate ways: the first as a cash payment of $1.22 million, which will be paid over a three-year period, and the second through the issuance of 1.6 million common shares in the capital of Assure Holdings at US$1.37 per share.
Based in Colorado, Assure Holdings works closely with neurosurgeons and orthopedic spine surgeons in providing services that support intraoperative neuromonitoring activities during invasive surgeries.
Sentry Neuromonitoring was founded in 2007 and is focused on providing superior electroneurodiagnostic services through the use of technologists, state-of-the-art equipment, and highly developed protocols resulting in dependability, accuracy, and unparalleled service to our patients, physicians, and facilities.
Shares of Assure Holdings dipped 2.37 per cent to C$1.65 as of 3:53 p.m. EDT.