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IMAC Holdings, Inc. (IMACW) is a leading integrative medicine clinic specializing in non-invasive treatments for knee pain, back pain, joint damage, and arthritis. With a focus on successful patient outcomes, IMAC offers alternatives to traditional surgeries such as knee replacements and spinal fusions. Their innovative procedures have helped everyone from professional athletes to seniors enjoy a pain-free life.
IMAC Holdings announces the acquisition of the Louisiana Orthopaedic & Sports Rehab Institute (LOSI) in Baton Rouge, expanding its reach into Louisiana. This acquisition, effective October 1, 2021, is part of IMAC's growth strategy under the leadership of Dr. Allen Johnston, who will serve as Medical Director. The partnership aims to enhance service offerings and patient care in orthopedic and sports medicine. IMAC has previously reported an 81% improvement rate among its patients, reinforcing its commitment to innovative medical advancements and care.
IMAC Holdings is set to present at the Fall Harvest – Best Ideas from the Buy-Side conference on October 5, 2021, at 11:30 ET. The conference, which will occur virtually, showcases the top ideas recommended by institutional investors. CEO Jeff Ervin will deliver the presentation, and management will be available for one-on-one meetings throughout the event. IMAC specializes in innovative regenerative rehabilitation orthopedic treatments without surgery or opioids, operating outpatient clinics and a research division focused on sports medicine and wellness.
IMAC Holdings (Nasdaq: IMAC) has announced its participation in Lake Street's 5th Annual Best Ideas Growth (BIG5) Conference, scheduled for September 14-15, 2021. This virtual event will connect executives from over 100 public growth companies with top institutional investors through one-on-one meetings. IMAC Holdings specializes in health and wellness, focusing on sports medicine and outpatient medical centers, and is also conducting a clinical trial for Parkinson’s disease therapy.
IMAC Holdings reported significant growth for Q2 2021, achieving a 36% increase in revenue to $3.4 million and a 70% rise in patient visits to over 44,778. Despite this growth, the company posted a net loss of $2.5 million or $0.08 per share, worsening from a net loss of $1.9 million in Q2 2020. Cash reserves improved to $13.6 million from $2.6 million at year-end 2020. Key initiatives included launching a new subsidiary, The Back Space, and initiating a clinical trial for a treatment related to Parkinson's disease.
IMAC Holdings has commenced the second cohort of its Phase 1 clinical trial for an investigational compound utilizing umbilical cord-derived mesenchymal stem cells to treat bradykinesia caused by Parkinson’s disease. The trial involves 15 patients in a dose escalation safety study across multiple locations. The Parkinson’s therapeutics market, valued at $2.61 billion in 2018, is projected to grow to $5.28 billion by 2025, highlighting the potential market impact of IMAC's developments.
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.
IMAC Holdings, Inc. (Nasdaq: IMAC) has launched a dedicated acute injury service line to improve patient access to treatment for acute musculoskeletal injuries, including sports and workplace incidents. The service, available at various IMAC Regeneration Centers, aims to expedite injury assessment and management. A new toll-free hotline will facilitate scheduling for physicians and legal professionals. The initiative enhances IMAC's existing services, which include work-related injury rehabilitation for the U.S. Department of Labor, promoting quick access to quality non-opioid orthopedic care.
IMAC Holdings, Inc. (Nasdaq: IMAC) is expanding its Chicago presence through the acquisition of Active Medical Center in Naperville, Illinois, effective June 28. This deal marks the third Mike Ditka IMAC Regeneration Center in the Chicago area. The purchase price, undisclosed, is approximately 2.0x 2020 cash flow, with expected annual expense synergies of 0.4x cash flow. IMAC aims to maintain price discipline in its acquisition strategy, with this being its fourth acquisition in 2021, positioning the company for further growth in the second half of the year.
IMAC Holdings announces the acquisition of Fort Pierce Chiropractic effective June 14, 2021, marking its third acquisition in Florida this year. The practice, known for over 30 years of service, was purchased for an undisclosed amount representing approximately 1x trailing twelve months cash flow. This strategic acquisition aims to enhance IMAC's offerings in non-surgical movement and sports medicine. New patient evaluations will commence on June 21, alongside ongoing development to expand IMAC's presence in Florida and the southern U.S.
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.
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