IMAC Holdings Announces Update to Service Locations
September 15 2020 - 9:25AM
IMAC Holdings, Inc. (Nasdaq: IMAC), a provider of innovative
medical advancements and care specializing in regenerative
rehabilitation orthopedic treatments without the use of surgery or
opioids, today announced an update of IMAC’s service locations.
IMAC expanded its services in Richmond, Kentucky
by entering into a sublease with an established chiropractic office
there to provide IMAC’s medical services from its facility starting
later this month. The shared space arrangement allows IMAC full
access to the space twice weekly. The sublease also allows for IMAC
to enter into collaboration opportunities in the future.
“The expansion of our services into Richmond
presents multiple advantages for IMAC. It presents the opportunity
to expand into a market where IMAC clients already exist, allowing
for a local resource in that part of the state. Richmond will also
allow us to further expand in the region, as the office we will
share presents regular opportunities to provide new services to a
new stream of clients,” stated Matthew Wallis, Chief Operating
Officer of IMAC. “We believe this expansion will drive additional
revenue in the Kentucky market.
IMAC is scheduled to close its Monett, Missouri,
location on September 25, 2020. The Monett facility, which is a
satellite facility for IMAC’s Springfield, MO market, was inherited
as part of an acquisition in September 2018. The clinic solely
offers physical therapy and averaged 122 visits per month in 2019.
Closing this facility will result in the reduction of two employees
and an increase in profitability for the Springfield, MO
market.
IMAC’s Bonita Springs, Florida location
continues to service physical therapy and chiropractic patients as
the facility undergoes minor enhancements to bring the facility to
code for the delivery of medical services. Medical staff has been
hired for Bonita Springs, and the full suite of IMAC treatments and
services will be available there starting October 12, 2020.
“The Monett facility closure will allow our
Springfield team to focus on the three productive clinics t in
which we experienced a 39% growth in visits in the second quarter
of 2020 from the comparable quarter in 2019,” said Jeffrey Ervin,
Chief Executive Officer of IMAC. “We are also excited about
implementing our full IMAC services in our first Florida location
next month. We see the opportunity to grow IMAC with our added
services in Florida as IMAC patient traffic has returned to
pre-COVID levels in our other markets.”
About IMAC Holdings, Inc.
IMAC Holdings 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
15 outpatient clinics that provide regenerative, orthopedic and
minimally invasive procedures and therapies. It has partnered with
several active and former professional athletes, opening six Ozzie
Smith IMAC Regeneration Centers, two David Price IMAC Regeneration
Centers, as well as Mike Ditka IMAC Regeneration Centers and a Tony
Delk IMAC Regeneration Center. IMAC’s outpatient medical clinics
emphasize its focus around treating sports and orthopedic injuries
and movement-restricting diseases without surgery or opioids. More
information about IMAC Holdings, Inc. is available at
www.imacregeneration.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 Fristoelfristoe@imacrc.com
Investors Bret Shapiro(516) 222-2560brets@coreir.com
Source: IMAC Holdings, Inc.
IMAC (NASDAQ:IMAC)
Historical Stock Chart
From Mar 2024 to Apr 2024
IMAC (NASDAQ:IMAC)
Historical Stock Chart
From Apr 2023 to Apr 2024