BRENTWOOD, Tenn., June 25, 2021 (GLOBE NEWSWIRE) — IMAC Holdings, a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, announces the Company’s expansion in the Chicago market with the asset purchase of Active Medical Center’s Naperville, Illinois location, effective Monday, June 28.
Active Medical Center is a medical clinic that addresses a wide variety of orthopedic treatments for various conditions through a combination of medical and physical rehabilitation services. The medical clinic will be rebranded as a Mike Ditka IMAC Regeneration Center, the third such location in the Chicago metro area and the first in the southwestern suburbs of Chicago.
“Active Medical Center’s Naperville practice is a great addition to our current treatment centers in the Chicago market. We look forward to expanding our Chicago presence with an established facility and talented team,” commented Jeff Ervin, IMAC’s Chief Executive Officer.
The practice was purchased for an undisclosed amount that represents approximately 2.0x 2020 cash flow. Immediate expense synergies are expected to deliver an additional 0.4x cash flow annually. This acquisition price is consistent with the Company’s targeted capital allocation for such acquisitions. Moreover, the medical focus of Active Medical Center is consistent with the Company’s focus of offering non-surgical pain treatment options and sports medicine services.
“We firmly believe in the price discipline within our acquisition strategy to grow existing and neighboring markets. This is our fourth acquisition in 2021 and we have a robust pipeline of targets to continue our strategy into the second half of the year,” concluded Mr. Ervin.
About IMAC Holdings
IMAC 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 over 15 outpatient medical clinics that provide 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 treating sports and orthopedic injuries and movement-restricting diseases without surgery or opioids. IMAC also operates the BackSpace retail spine health and wellness treatment centers. More information about IMAC Holdings, Inc. is available at www.imacholdings.com.
Investor Relations:
Bret Shapiro
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