The Back Space Announces Next Spinal Care Locations

Rhea-AI Summary

IMAC Holdings continues its expansion with 'The Back Space' healthcare centers, opening four new locations in Tennessee and Missouri. The new sites include three in the Nashville area and one in Chesterfield, Missouri. The company's pilot program aims to provide affordable chiropractic and spinal care services within Walmart retail stores, priced at $25 per treatment. CEO Jeffrey Ervin emphasized the value derived from initial consumer feedback and outlined cost-saving measures that could reduce implementation costs by 15%. Overall, IMAC aims to enhance its footprint in the healthcare sector.

Positive

• Expansion of 'The Back Space' with four new locations, enhancing brand presence.
• Affordable pricing for services at $25 per treatment and $65 per month for memberships.
• Cost-saving measures projected to reduce implementation costs by 15% for new facilities.

Negative

• None.

The Back Space Continues Its Successful Pilot Program in Tennessee, Expanding into St. Louis

BRENTWOOD, Tenn., July 07, 2021 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”) today announces the next four locations of “The Back Space” retail healthcare centers specializing in chiropractic and spinal care services.

IMAC’s wholly owned subsidiary, The Back Space, will open three additional Nashville-area locations to complement the first opened last month. A second location in Murfreesboro, followed by a La Vergne and Antioch location are anticipated this quarter. Chesterfield, Missouri, home to the Ozzie Smith IMAC Regeneration Center, is the fourth announced location.

“The Back Space continues its next phase of storefronts and unique care platform with valuable information regarding consumer preference from our first location. Importantly, initial consumer feedback verifies that The Back Space delivers value for the Walmart customer at an affordable price,” commented Jeffrey Ervin, Chief Executive Officer of IMAC. “Our announced locations are in the permitting process and will begin construction soon. In the meantime, we have developed a replicable buildout process that will accelerate grand opening dates by a week and save approximately 15% of implementation costs for each future facility.”

IMAC’s The Back Space, which has now announced five of the 10 locations in a pilot program 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. More information can be found at www.back.co.

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 new locations is IMAC adding for 'The Back Space'?

IMAC is adding three locations in the Nashville area (Murfreesboro, La Vergne, and Antioch) and one in Chesterfield, Missouri.

When will the new 'Back Space' locations open?

The new locations are in the permitting process and construction is anticipated to begin soon.

What services does 'The Back Space' offer?

'The Back Space' offers chiropractic adjustments, nerve and muscle stimulation, and percussion tool therapies for spinal wellness.

What is the cost of treatments at 'The Back Space'?

Each treatment is priced at $25, with memberships available for $65 per month.

How does IMAC plan to save on implementation costs for new locations?

IMAC has developed a replicable buildout process that could save approximately 15% on implementation costs.