Purchase marks the third acquisition in Florida this year
BRENTWOOD, Tenn, June 14, 2021 (GLOBE NEWSWIRE) – IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”), a provider of innovative medical advances and care, specializes in orthopedic treatments for regenerative rehabilitation without the use of surgery or opioids, announces the purchase of Fort Pierce Chiropractic effective today.
“The award-winning Fort Pierce Chiropractic has been an integral part of the Treasure Coast community along Highway 1 for over 30 years. We expect to build on the historic success of this practice by providing medical services to the current patient base that are provided by the existing team receive excellent spinal care, ”said Jeff Ervin, chief executive officer of IMAC.
The practice was purchased for an undisclosed amount, which is roughly 1 times the cash flow from after twelve months. This acquisition further supports the company’s focus on increased demand and awareness for non-surgical exercise and sports medicine services. Fort Pierce Chiropractic marks IMAC’s third Florida acquisition this year, expanding its geographic presence in central Florida. IMAC’s medical staff will be available to assess new patients on site and via telemedicine starting June 21.
“We continue to see long-term value in acquiring established practices that minimize the execution risk of the proceeds invested. Our team has worked carefully to find opportunities and capitalize on current market conditions. In addition to expanding our presence in the Midwest, Florida and the south of the USA remain target regions. “
About IMAC Holdings, Inc.
IMAC was founded in March 2015 to expand the footprint of the original IMAC regeneration center, which opened in Kentucky in August 2000. IMAC regeneration centers combine life science advances with traditional medical care for motion-impairing diseases and conditions. IMAC owns or manages over 15 outpatient medical clinics that offer 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, to emphasize its focus on treating sports and orthopedic injuries and movement-impairing diseases without surgery or opioids. IMAC also operates the BackSpace retail centers for spinal health and wellness. More information about IMAC Holdings, Inc. can be found at www.imacholdings.com.
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Safe Harbor Statement
This press release contains forward-looking statements. These forward-looking statements and expressions such as “anticipate”, “expect”, “believe”, “may”, “will”, “should” or other similar expressions are based largely on IMAC’s expectations and are subject to a number of risks and uncertainties, of which some are beyond the control of IMAC. Actual results could differ materially from these forward-looking statements due to, among other things, risks and uncertainties relating to our ability to raise additional funds, our ability to maintain and grow our business, the variability of our results of operations, our ability to obtain and improve our Brand, its development and launch of new products and services, the successful integration of acquired companies, technologies and assets, marketing and other business development initiatives, industry competition, general government regulation, economic conditions, dependence on key personnel, the ability to attract employees , hire and retain those who have the skills and experience necessary to meet customers’ demands and their ability to protect their intellectual property. IMAC encourages you to review other factors that may affect its future results in its registration statement and other filings with the Securities and Exchange Commission. Given these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will actually occur.
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