PARKER, Colo., Jan. 16, 2018 (GLOBE NEWSWIRE) -- The board of directors of Assure Holdings Corp. (the “Company” or “Assure”) (TSXV:IOM) (OTCQB:ARHH), a provider of intraoperative neuromonitoring services, has appointed Peter Csapo as chief financial officer, effective January 16th, 2018. Former CFO Frank Iadipaolo will stay with the Company during an interim period to assist with the transition.
Mr. Csapo comes to Assure with more than 20 years of healthcare industry expertise. He has served as CFO for both public and private organizations, including Air Methods Corp. (formerly Nasdaq:AIRM), R1 RCM Inc. (Nasdaq:RCM), Vizient Inc., and McKesson Corp., one of the largest diversified healthcare companies in the world.
Throughout his career, Mr. Csapo has specialized in driving improved financial results through targeted investments, prudent cost management and a disciplined approach to financial planning and analysis. In fact, during his time at McKesson, Mr. Csapo was recognized by Treasury & Risk Magazine as an outstanding financial executive in the annual 40 under 40 edition.
“Peter’s wealth of knowledge and financial expertise in the healthcare industry will be an invaluable asset to our organization,” said Preston Parsons, CEO of Assure. “Having initiated and led strategies for multiple organizations that have produced rapid revenue growth, Peter will be instrumental in supporting Assure’s next stage of development as we continue to expand our business.”
At Air Methods, Mr. Csapo drove a turnaround of the revenue cycle, which significantly increased the company’s market value and supported the premium that private equity sponsor American Securities paid in their $2.5 billion leveraged buyout last April.
Mr. Parsons added, “This experience around revenue cycle operations was particularly attractive to us as we searched for our next CFO. We are confident this experience will translate extremely well to our mostly out-of-network billing structure, and anticipate further improvements to our sales cycle as a result.”
Commenting on his appointment, Mr. Csapo stated, “Assure has developed a turnkey platform that is unique in the large and growing global neuromonitoring marketplace. With their strong foundation in Colorado and pathway to additional state expansion unfolding, I look forward to utilizing my prior healthcare experience working with health plans and providers to implement strategies and an operational foundation that can further bolster the company’s rapid growth trajectory.”
Mr. Csapo holds a Bachelor of Business Administration in Accounting from the University of Wisconsin at Madison and obtained his Certified Public Accountant certificate from the State of Illinois.
Concurrent with his appointment, Mr. Csapo received 275,000 restricted shares of Assure. Half of the restricted shares granted to Mr. Csapo will vest upon the earlier of the Company meeting certain milestones and 18 months from the grant date, with 1/18 of the remaining unvested restricted shares vesting on a monthly basis over a period of 18 months, commencing on or about August 31, 2019. The grant of these restricted shares remains subject to the approval of the TSX Venture Exchange.
About Assure Holdings
Assure Holdings Corp. is a Colorado-based company that works with neurosurgeons and orthopedic spine surgeons to provide a turnkey suite of services that support intraoperative neuromonitoring activities during invasive surgeries. Assure employs its own staff of technologists and uses its own state-of-the-art monitoring equipment, handles 100% of intraoperative neuromonitoring scheduling and setup, and bills for all technical services provided. While Assure focuses primarily on supporting spinal and vascular surgeries, plans are in place to support other classes of medicine that rely on the standard of care that intraoperative neuromonitoring provides. For more information, visit the company’s website at assureIOM.com.
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that Assure anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, comments with respect to strategies, expectations, planned operations and future actions of the Company. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Assure to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to Assure, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities of the Corporation have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Matthew Willer, President
Cody Slach, Managing Director
Liolios Investor Relations