IMAC Holdings’ The Back Space Announces the Completion of Two Additional Retail Spinal Care Locations

Rhea-AI Summary

IMAC Holdings (Nasdaq: IMAC) is expanding its pilot store program, opening two additional retail healthcare centers, "The Back Space," in Nashville, Tennessee. These centers focus on affordable chiropractic and spinal care services, priced at $25 per treatment. The company aims to enhance efficiency and reduce costs based on insights gained from the ongoing ten-store pilot. The Back Space is positioned within Walmart locations, offering convenient care for customers. IMAC also operates outpatient medical centers and is involved in clinical research for therapies targeting movement-restricting conditions.

Positive

• Expansion of 'The Back Space' with two new locations enhances market presence in Nashville.
• Affordable pricing model at $25 per treatment attracts a broader customer base.
• Insights from the pilot program aim to lower future store opening costs and times.

Negative

• None.

The Back Space Continues Its Pilot Store Program in the Nashville market

BRENTWOOD, Tenn., Oct. 26, 2021 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”) today announces the completion of two additional locations of “The Back Space” retail healthcare centers specializing in chiropractic and spinal care services within Walmart stores. The Back Space will open two locations in the Nashville area this week to complement the original store opening in Murfreesboro, Tennessee.

“We are excited to continue our progress in opening additional ‘The Back Space’ locations. We have established a platform to deliver affordable spinal health and wellness services in a superior location,” commented Jeffrey Ervin, Chief Executive Officer of IMAC. “As we execute the ten-store pilot, we have identified several opportunities to improve on subsequent store openings which will reduce completion time and opening costs. Our well-established buildout process drives strong value and will be a benefit beyond the pilot program should we expand our store count.”

IMAC’s The Back Space offers walk-in and appointment-based spinal health and wellness services priced at $25 per treatment, with memberships available for $65 per month that are valid at any The Back Space location. More information can be found at www.back.co.

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.

# # #

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 new locations is IMAC Holdings opening?

IMAC Holdings is opening two new 'The Back Space' locations in Nashville, Tennessee.

What services does 'The Back Space' offer?

'The Back Space' offers chiropractic and spinal health services, with treatments priced at $25.

How does IMAC Holdings plan to improve store openings?

IMAC Holdings aims to reduce opening costs and times by applying lessons learned from its ongoing ten-store pilot.

What is the pricing model for treatments at 'The Back Space'?

Treatments at 'The Back Space' are priced at $25 each, with membership options available for $65 per month.

When did IMAC Holdings announce the new locations?

IMAC Holdings announced the opening of the new locations on October 26, 2021.