IMAC Holdings’ The Back Space Announces First Nashville Pilot Location Reaches Milestone of 100 Active Members
IMAC Holdings announced its first The Back Space location has reached 100 active members. These centers, located within Walmart, offer affordable chiropractic and spinal care services, priced at $25 per treatment and $65 for a monthly membership. CEO Jeffrey Ervin expressed optimism about the membership model's growth potential. While the pilot program may not generate significant revenue soon, achieving this member milestone indicates strong service value and market demand. IMAC operates over 15 outpatient clinics and is conducting clinical trials for a stem cell therapy.
- Achieved 100 active members at the first Back Space location.
- Affordable pricing: $25 per treatment and $65 for monthly membership.
- Strong initial demand for services indicates growth potential.
- Pilot program unlikely to generate material revenue in the near term.
- Need for refined marketing and messaging to boost membership faster.
Company Continues Expansion of Accessible and Affordable Chiropractic and Spinal Care Services within Walmart Locations
BRENTWOOD, Tenn., Dec. 10, 2021 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”) today announced that its first location of The Back Space has reached 100 active members. The Back Space, located within Walmart stores, are retail healthcare centers specializing in chiropractic adjustments, nerve and muscle stimulation, and percussion tool therapies for soft tissue recovery, muscle relaxation, and spinal wellness. Services are offered on a walk-in and appointment basis, priced at
“We are optimistic about the ability we have to build upon the growing acceptance of our membership offering at our first The Back Space location. This milestone, on a small scale, demonstrates the strong value our spinal health and wellness service model delivers to active members and walk-in customers alike,” stated IMAC Holdings Chief Executive Officer Jeffrey Ervin. “We are confident that future stores have the ability to reach 100 members much faster than our first store as we continue to refine our messaging and implement consistent marketing practices that engaged 40 new members in the past six weeks. For that reason, this achievement validates aspects of our business model to satisfy the growing demand for spinal health and wellness services. While the pilot program is unlikely to generate material revenue in the near term, we overcame some significant macro challenges to launch this new business segment and it is very rewarding to reach our first milestone for this store.”
About IMAC Holdings, Inc.
IMAC Holdings owns and manages health and wellness centers that deliver sports medicine, orthopedic, and life science therapies for movement restricting diseases. IMAC is comprised of three business segments: outpatient medical centers, The Back Space, and a clinical research division. With treatments to address the aging population, IMAC Holdings owns or manages more than 15 outpatient medical clinics and has partnered with several active and former professional athletes, including Ozzie Smith, David Price, Mike Ditka, and Tony Delk to promote a minimally invasive approach to sports medicine. IMAC’s The Back Space retail spine health and wellness treatment centers deliver chiropractic care within Walmart locations. IMAC’s research division is currently conducting a Phase I clinical trial evaluating a mesenchymal stem cell therapy candidate for bradykinesia due to Parkinson’s disease. For more information visit 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
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