IONM - Assure Holdings to continue streamlining business to achieve positive operating cash flow

• Assure Holdings ( NASDAQ: IONM ) said Thursday it will continue streamlining operations , aiming to achieve positive operating cash flow.
• The news sent IONM shares 12.9% higher aftermarket, but in low trading volumes.
• Earlier cost cutting measures , as well as the latest ones, will realize $4M of savings on an annualized basis.
• The measures included reducing workforce, salary cuts for the management, limiting use of outside consultants and reducing operating costs.
• IONM rationalized its footprint by discontinuing operations at certain low-performing markets.
• The firm is continuing to invest in its managed care and revenue cycle management functions and tools.
• IONM will prioritize growth resources in markets with substantial operational density, servicing facility-wide outsourcing deals and enter new markets with strong profitability profiles.
• "Our plan reduces  structural costs while funding long-term improvements that benefit IONM's profitability. We expect the business will be leaner and more profitable in H2 of 2022," said CEO John Farlinger.
• IONM stock has declined ~72% YTD.

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