Allen Johnston, MD, joins IMAC as medical director,
Expansion of the company’s presence, expertise in sports medicine
BRENTWOOD, Tenn, October 4, 2021 (GLOBE NEWSWIRE) – IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”), a provider of innovative medical advances and care, specializing in regenerative and rehabilitative orthopedic treatments , today announced its expansion into Louisiana with the acquisition of the Louisiana Orthopedic & Sports Rehab Institute (LOSI), based in Baton Rouge.
LOSI is a practice management company that has served the Baton Rouge community since 1988. LOSI founder Allen Johnston, MD, will continue to treat patients at 1940 O’Neal Lane and join IMAC as Medical Director to expand the company’s in-house expertise in orthopedics and sports medicine. Dr. Johnston graduated from Louisiana State University School of Medicine in New Orleans in 1979 and specializes in orthopedic surgery and orthopedic trauma surgery.
LOSI was acquired on October 1, 2021 for an undisclosed combination of cash and common stock equal to IMAC’s historical transaction multiples.
“We are very excited to continue expanding IMAC’s growing presence in Louisiana, where Dr. Allen Johnston and his practice at the Louisiana Orthopedic & Sports Rehab Institute represent the perfect blend of skills, patient coverage and service excellence to complement IMAC’s service offering, ”said Jeff Ervin, CEO of IMAC. “This partnership and Dr. Johnston’s new role as Medical Director is evidence of the ongoing implementation of our model of expanding IMAC with outpatient clinics that have strong foundations and growth opportunities. We firmly believe in the value that IMAC brings to its customers, and we are taking this opportunity to expand that value to a new group of orthopedic patients who we believe can benefit from our approach to mobility impairment. “
The center will join other IMAC centers accessing the IMAC Acute Injury service line, which provides doctors, lawyers, and referral sources with a toll-free line for 24/7 access to patients with acute sports, casualty, and occupational injuries. This enables an early and appropriate assessment of acute injuries for appropriate medical treatment.
“I am very motivated and excited about LOSI’s partnership with IMAC to continue the exceptional care in Baton Rouge. I am excited to share my experiences with the other IMAC medical directors to work together and run growth initiatives for the company, ”added Dr. Johnston added.
IMAC Regenerative Centers have long shown strong patient rehabilitation results. IMAC announced the results of a clinical data analysis in May 2021, which showed that approximately 81% of IMAC patients reported improvement in exercise. IMAC analyzed functional disabilities that mainly affect the knees, lower back, neck, shoulders, hips, legs and ankles. The data were collected from patients during initial examinations, follow-up examinations and at discharge intervals during the treatment of the patients. Between 2017 and the first quarter of 2021, IMAC examined the functional improvement of patients after treatment in the IMAC regeneration centers using standardized disability indices.
About IMAC Holdings, Inc.
IMAC Holdings owns and manages health and wellness centers that provide sports medicine, orthopedic, and life science therapies for motion-impairing diseases. IMAC consists of three divisions: Outpatient Medical Centers, BACKSPACE and a Clinical Research Department. Providing treatments for 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 health care Sports medicine. IMAC’s BACKSPACE Spinal Health and Wellness Retail Centers provide chiropractic treatment 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. More information is available at www.imacholdings.com
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Safe Harbor Statement
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Investor Relations: Bret Shapiro (516) 222-2560 [email protected]
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