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IMAC Holdings, Inc. (IMAC)

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Previous Close2.2600
Open2.2200
Bid2.1100 x 1200
Ask2.1200 x 800
Day's Range2.0101 - 2.2985
52 Week Range0.4200 - 4.9500
Volume223,193
Avg. Volume696,411
Market Cap25.219M
Beta (5Y Monthly)-2.07
PE Ratio (TTM)N/A
EPS (TTM)-0.6600
Earnings DateNov 12, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est3.75
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  • IMAC Partners with Fortune 500 Company to Launch In-Store Spinal Care
    GlobeNewswire

    IMAC Partners with Fortune 500 Company to Launch In-Store Spinal Care

    The Back Space will deliver chiropractic and spinal care services in a multi-store test market BRENTWOOD, Tenn., Feb. 25, 2021 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC), today announced a strategic partnership with a Fortune 500 company by launching its new wholly-owned subsidiary The Back Space, LLC (www.back.co). The Back Space will operate retail healthcare centers specializing in chiropractic and spinal care services inside the partner’s locations. The first location is scheduled to open in April. The Back Space will specialize in treatments for back and neck pain, soft-tissue recovery, muscle tension and spinal wellness while providing chiropractic adjustments, nerve and muscle stimulation, and percussion tool therapies. Each service will be priced at $25 or less per treatment with memberships available for $65 per month. “We have witnessed a strong demand for spinal care in our IMAC locations and The Back Space will provide convenient and affordable treatments for the 60 million Americans that suffer from back or neck pain,” said Matt Wallis, Chief Operating Officer of IMAC Holdings. “We are excited to launch The Back Space because helping people get back to living their best life is IMAC’s purpose,” he added. The Back Space will initially open at least five locations as part of a test market with the Fortune 500 partner. The stores will average 800 square feet and require minimal structural and equipment investment to open for customers. According to the United States Chiropractic Association, back pain is the single leading cause of disability worldwide and is the most common reason reported for missed work. Experts estimate that up to 80 percent of the population will experience back pain at some point in their lives, regardless of their age, gender or economic status. “The Back Space has the ability to scale quickly after the concept is proven during the test market period,” stated Jeffrey Ervin, IMAC Holdings’ Chief Executive Officer. “This initiative complements our medical clinics, providing another point of entry for consumers with chronic pain that require further medical assistance. I am very excited about the progress we have made to execute our business development initiatives in 2021,” he concluded. The U.S. chiropractic market has been estimated at approximately $12.3 billion in 2017 with a compound annual growth rate of 4.3 percent, according to Grand View Research. IMAC believes the trends point increasingly to chiropractic therapy gaining acceptance for its cost-saving advantages compared to traditional methods of pain diagnosis utilizing prescription medications and surgical intervention. About IMAC Holdings, Inc. IMAC was created in March 2015 to expand on the footprint of the original IMAC Regeneration Center, which opened in Kentucky in August 2000. IMAC Regeneration Centers combine life-science advancements with traditional medical care for movement restricting diseases and conditions. IMAC owns or manages more than 15 outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies. It has partnered with several active and former professional athletes including Ozzie Smith, David Price, Mike Ditka and Tony Delk. IMAC’s outpatient medical clinics emphasize treating sports and orthopedic injuries and movement-restricting diseases without surgery or opioids. More information about IMAC Holdings, Inc. is available at www.imacregeneration.com. # # # Safe Harbor Statement This press release contains forward-looking statements. These forward-looking statements, and terms such as “anticipate,” “expect,” “believe,” “may,” “will,” “should” or other comparable terms, are based largely on IMAC’s expectations and are subject to a number of risks and uncertainties, certain of which are beyond IMAC’s control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, risks and uncertainties associated with the launch of IMAC’s new strategic partnership, its ability to grow its business nationwide in 2021 and 2022, its ability to enhance its brand to consumers, its development and introduction of new healthcare products and services, its successful integration of acquired chiropractic and other companies, technologies and assets, its ongoing marketing and other business development initiatives, competition in the rehabilitation and regenerative industry, new and changing healthcare government regulation, its ability to protect its intellectual property, and its ability to attract, hire and retain personnel who possess the skills and experience necessary to meet customers’ requirements. IMAC encourages you to review other factors that may affect its future results in the public filings that it makes with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact occur. IMAC Press Contact:Laura Fristoelfristoe@imacrc.com Investor Relations:Bret Shapiro(516) 222-2560brets@coreir.com

  • IMAC Holdings Adds Regenerative Wound Care Service in Regeneration Centers
    GlobeNewswire

    IMAC Holdings Adds Regenerative Wound Care Service in Regeneration Centers

    Insurance to Reimburse Services Providing Cell-Based Amniotic-Infused Mesh Application to Chronic Non-Healing Wounds and Diabetic Foot Ulcers BRENTWOOD, Tenn., Feb. 18, 2021 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, today announces regenerative medicine service expansion to include treatment for chronic wounds through cell-based amniotic-infused mesh applications in IMAC Regeneration Centers. The treatment consists of a medical doctor, physician assistant, or nurse practitioner applying an amniotic tissue mesh patch to chronic non-healing wounds that may restrict movement, such as diabetic foot ulcers. Bioengineered skin and soft tissue substitutes have designated Medicare procedure codes (CMS HCPCS) and are considered medically necessary and reimbursed if the medical appropriateness criteria are met. IMAC received reimbursement for services during a successful pilot program in the Chicago market. “We regularly seek to expand our importance and value to communities we serve. With the performance of our physical therapy services, we have learned the significance of non-healing wounds, the unmet need for non-surgical treatment of the wounds, and the detriment diabetic foot ulcers have on one’s movement,” commented Jeffrey Ervin, IMAC’s Chief Executive Officer. “The mesh application provides us the potential to gain additional revenue from existing and new patients. But the most exciting part for the patient is no or minimal out of pocket expense with the prospect of putting an end to a chronic non-healing wound.” Chronic wounds, such as diabetic foot ulcers, are responsible for a large portion of time, effort, and cost in the medical community. An economic evaluation of the impact, cost, and Medicare policy implications of nonhealing wounds performed in the mid 2010s showed that nearly 15% of Medicare beneficiaries (8.2 million) were treated for some type of wound (surgical, arterial, venous, traumatic, pressure, or diabetic foot ulcer) or wound-related infection. A subsequent 2017 study noted that total Medicare spending estimates for diabetic foot ulcers alone reached as high as $18.7 billion, with the cost expected to rise with both inflation and the rising numbers of those diagnosed with diabetes.1 Diabetic foot ulcers are difficult to treat, difficult to heal, are likely to become chronic and often limit movement. About IMAC Holdings, Inc. IMAC was created in March 2015 to expand on the footprint of the original IMAC Regeneration Center, which opened in Kentucky in August 2000. IMAC Regeneration Centers combine life science advancements with traditional medical care for movement restricting diseases and conditions. IMAC owns or manages over 15 outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies. It has partnered with several active and former professional athletes, opening six Ozzie Smith IMAC Regeneration Centers, two David Price IMAC Regeneration Centers, as well as Mike Ditka IMAC Regeneration Centers and a Tony Delk IMAC Regeneration Center. IMAC’s outpatient medical clinics emphasize its focus around treating sports and orthopedic injuries and movement-restricting diseases without surgery or opioids. More information about IMAC Holdings, Inc. is available at www.imacregeneration.com. # # # Safe Harbor Statement This press release contains forward-looking statements. These forward-looking statements, and terms such as “anticipate,” “expect,” “believe,” “may,” “will,” “should” or other comparable terms, are based largely on IMAC's expectations and are subject to a number of risks and uncertainties, certain of which are beyond IMAC's control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the skills and experience necessary to meet customers’ requirements, and its ability to protect its intellectual property. IMAC encourages you to review other factors that may affect its future results in its registration statement and in its other filings with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact occur. IMAC Press Contact: Laura Fristoelfristoe@imacrc.com Investor Relations: Bret Shapiro(516) 222-2560brets@coreir.com 1 https://www.uhms.org/images/QUARC/oct-2017/Value_In_Health_article.pdf

  • IMAC Holdings Continues Florida Expansion with Acquisition of Tampa Clinic
    GlobeNewswire

    IMAC Holdings Continues Florida Expansion with Acquisition of Tampa Clinic

    Company announces second Florida acquisition this year BRENTWOOD, Tenn, Feb. 04, 2021 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, today announces its continued market expansion in Florida with the asset purchase of Willmitch Chiropractic in Tampa. The all-cash transaction is scheduled to close on Monday, February 8. Under the terms of the asset purchase agreement, the acquisition price of Willmitch Chiropractic represents a maximum 1.45 times trailing twelve months cash-flow of its existing patient base, depending on a seller earn-out provision. Additionally, Willmitch Chiropractic’s founder, Martin Willmitch, will remain with the Company and serve as Vice President of Managed Care of IMAC. “The acquisition of Willmitch is an excellent addition to our growing network of centers for movement-restricting conditions and diseases. We continue to execute our strategy of targeted expansion in geographies contiguous to existing markets at favorable valuations,” commented Jeffrey Ervin, IMAC’s Chief Executive Officer. “We believe industry price compression has created market conditions that are advantageous to fulfill our growth strategy, while utilizing proceeds from recent financings to improve our operating cash flow.” This acquisition further supports the Company’s focus on meeting increased demand and awareness for non-surgical movement and spinal care medical services while strategically expanding its Florida presence, following a recently announced acquisition in Orlando scheduled to close February 28. Collectively, the two clinics received more than 18,000 patient visits in 2020. “While we are excited about adding a practice with decades of historical success, IMAC has the potential to benefit most from Marty’s addition to the team,” continued Jeffrey Ervin. “He was able to develop unique partnerships with managed care networks and his innovative initiatives have the ability to drive value in each of IMAC’s markets.” “IMAC recognizes the value of excellent patient care and its high standards will ensure that Willmitch’s client base will continue to receive the quality care they deserve. In the meantime, I am excited about the opportunity to introduce IMAC’s conservative care services and cost savings to managed care organizations I’ve worked with during time as a single practice. I look forward to this new chapter with IMAC and to seeing the business continue to grow,” added Martin Willmitch. About IMAC Holdings, Inc. IMAC was created in March 2015 to expand on the footprint of the original IMAC Regeneration Center, which opened in Kentucky in August 2000. IMAC Regeneration Centers combine life science advancements with traditional medical care for movement restricting diseases and conditions. IMAC owns or manages over 15 outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies. It has partnered with several active and former professional athletes, opening six Ozzie Smith IMAC Regeneration Centers, two David Price IMAC Regeneration Centers, as well as Mike Ditka IMAC Regeneration Centers and a Tony Delk IMAC Regeneration Center. IMAC’s outpatient medical clinics emphasize its focus around treating sports and orthopedic injuries and movement-restricting diseases without surgery or opioids. More information about IMAC Holdings, Inc. is available at www.imacregeneration.com. # # # Safe Harbor Statement This press release contains forward-looking statements. These forward-looking statements, and terms such as “anticipate,” “expect,” “believe,” “may,” “will,” “should” or other comparable terms, are based largely on IMAC's expectations and are subject to a number of risks and uncertainties, certain of which are beyond IMAC's control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the skills and experience necessary to meet customers’ requirements, and its ability to protect its intellectual property. IMAC encourages you to review other factors that may affect its future results in its registration statement and in its other filings with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact occur. IMAC Press Contact: Laura Fristoelfristoe@imacrc.com Investor Relations: Bret Shapiro(516) 222-2560brets@coreir.com