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MarketScreener Homepage  >  Equities  >  Nasdaq  >  IMAC Holdings, Inc.    IMAC

IMAC HOLDINGS, INC.

(IMAC)
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IMAC Holdings, Inc. Partners with Safe Balance, LLC to Provide Services that Improve Balance for the Reduction of Fall Risk

09/23/2020 | 09:15am EST

BRENTWOOD, Tenn and BIRMINGHAM, Mich., Sept. 23, 2020 (GLOBE NEWSWIRE) -- 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 a partnership with Birmingham, Michigan-based Safe Balance, LLC to implement multi-factorial fall risk assessment services for individuals with balance deficiencies.

According to the Centers for Disease Control and Prevention, one in four Americans ages 65 and older experience a significant fall each year. Falls are also the leading cause of fatal injury and the most common cause of nonfatal trauma-related hospital admissions among older adults.

Safe Balance utilizes a proprietary and patented software program that guides the medical provider gathering specific information and performance measures on a person’s fall risk categories, including prior fall history, vision, standing balance, gait/ambulation, pain, and medication use. The program then generates an evidence-based risk mitigation framework based on the risks identified providing a more detailed and focused guide for the medical provider.

“Visitors to our IMAC Regeneration Centers have varying physical stability and risk for falls. The unique Safe Balance program allows our medical teams to both rapidly assess this risk using a simple app and provide real time recommendations to mitigate that risk and improve overall outcomes during their therapy period,” said Sandy Miller, PT and Vice President of Clinical Development at IMAC Holdings. “In addition, this new tool for our physical therapists fits perfectly into our philosophy and business model as it provides measurable and actionable steps toward the improvement of movement and overall health using a non-invasive methodology, while avoiding the need for additional and potentially unnecessary medications. The successful launch in our test market demonstrated the potential to expand our patient base as well as generate new revenue with a new service line.”

The Safe Balance program has been implemented throughout the United States in various medical offices, specialties, ancillary care providers and comprehensive healthcare systems.

“Establishing this partnership with IMAC is truly transforming the level of care to the patients we serve,” said Safe Balance Vice President of Clinical Services, Nathan Clinton-Barnett. “With IMAC’s continuous success in treating patient conditions through innovative and ground-breaking clinical application, the inclusion of the Safe Balance program made complete sense. There is little doubt that this partnership will yield substantial quality outcomes for patients along with decreased costs to the United States healthcare system through the proactive reduction in catastrophic falls.”

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.

About Safe Balance

Safe Balance is a Michigan-based company with the mission to utilize evidence-based methods and technology to assess a person's risk of experiencing a fall, in order to facilitate the best method of care to mitigate that risk. The team is made of seasoned clinicians supported by strategic alliances with major universities and researchers. The Safe Balance program has demonstrated to significantly reduce the occurrence of falls by over 20% each month of implementation and has enhanced the clinical/quality capabilities of hospital systems, physician offices, home health agencies, outpatient therapy companies, private-duty care companies, ACO’s and senior housing communities.

# # #

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

Safe Balance Press Contact:
Sheila Bullard
sheila@safe-balance.com

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© GlobeNewswire 2020
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Financials (USD)
Sales 2020 13,1 M - -
Net income 2020 -6,56 M - -
Net Debt 2020 - - -
P/E ratio 2020 -1,85x
Yield 2020 -
Capitalization 13,3 M 13,3 M -
Capi. / Sales 2020 1,01x
Capi. / Sales 2021 0,78x
Nbr of Employees 120
Free-Float 60,9%
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Average target price 3,75 $
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Jeffrey S. Ervin Chairman & Chief Executive Officer
Matthew C. Wallis Chief Operating Officer & Director
Sheri Gardzina Secretary, Chief Financial & Accounting Officer
Evans E. Maurice Independent Director
Michael D. Pruitt Independent Director
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