IMAC Holdings Introduces The Back Space - First In-Store Chiropractic and Spinal Care Location within Walmart

Rhea-AI Summary

IMAC Holdings has launched its first retail healthcare center, The Back Space, within a Walmart store in Brentwood, TN. This initiative is part of a ten-location pilot program aimed at enhancing spinal care services, including chiropractic adjustments and soft tissue recovery therapies. Treatments cost $25, with $65 monthly memberships available. The partnership aims to improve accessibility to spinal health for customers, addressing a significant health issue as back pain is a leading cause of disability worldwide. IMAC manages over 15 outpatient clinics focusing on regenerative and orthopedic care.

Positive

• Launch of The Back Space retail healthcare center within Walmart, enhancing accessibility to spinal care.
• Affordable pricing at $25 per treatment and $65 monthly memberships, attracting potential customers.
• Partnership with Walmart allows for increased cross-traffic and brand visibility.

Negative

• None.

The Back Space Grand Opening is the First Retail Location of a Ten Location Pilot Program

BRENTWOOD, Tenn., June 07, 2021 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”) announces the launch of its partnership with Walmart through the opening of its first “The Back Space” retail healthcare center specializing in chiropractic and spinal care services.

IMAC’s The Back Space, which is directly within a Walmart retail store, delivers chiropractic adjustments, nerve and muscle stimulation, and percussion tool therapies for soft tissue recovery, muscle relaxation, and spinal wellness. Services will be offered on a walk-in and appointment basis, priced at $25 per treatment, with memberships available for $65 per month that are valid at any The Back Space location. Each location will accept payment in credit, cash, and Venmo. More information can be found at www.back.co.

“We’re on a mission to help our customers live better; partnering with The Back Space gives us the opportunity to do just that,” said Darryl Spinks, Sr. Director, Walmart Services.

“We are thrilled to partner with Walmart in bringing IMAC’s high care standards to our new brand, The Back Space. We look forward to serving Walmart customers who may have neglected spinal health and wellness because it was inconvenient or too costly,” commented Jeffrey Ervin, CEO of IMAC Holdings. “The initial pilot of The Back Space within Walmart is an efficient use of space and capital, allowing both the retailer and our subsidiary to benefit from opportunities generated through cross traffic.”

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. A study in the journal, Neurologic Clinics, estimated that up to 80% of the population will experience back pain at some point in their lives, regardless of age, gender, or economics.¹ In fact, back pain is the third most common reason for doctor visits, behind skin disorders and osteoarthritis. While most people with lower back pain recover, reoccurrence is common and could become chronic and disabling for a small percentage of people. Lower-back pain costs Americans at least $50 billion in health care costs each year and rises to more than $100 billion after factoring in lost wages and decreased productivity.²

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¹ Rubin Dl. Epidemiology and Risk Factors for Spine Pain. Neurol Clin. 2007; May;25(2):353-71
² https://www.acatoday.org/Patients/What-is-Chiropractic/Back-Pain-Facts-and-Statistics

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.imacholdings.com.

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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 Fristoe
lfristoe@imacrc.com

Investor Relations:
Bret Shapiro
(516) 222-2560
brets@coreir.com

FAQ

What is The Back Space by IMAC?

The Back Space is a retail healthcare center offering chiropractic and spinal care services, launched by IMAC within a Walmart store.

Where is The Back Space located?

The first The Back Space location is in Brentwood, Tennessee, directly inside a Walmart.

What services does The Back Space offer?

The Back Space provides chiropractic adjustments, nerve stimulation, and other therapies for spinal wellness.

How much do treatments at The Back Space cost?

Treatments are priced at $25 each, with a membership option available for $65 per month.

Is The Back Space part of a larger program?

Yes, The Back Space is the first location of a ten-location pilot program launched by IMAC.