Purchase Marks Third Florida Acquisition this Year

BRENTWOOD, Tenn, June 14, 2021 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC) ("IMAC" or the "Company"), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, announces its purchase of Fort Pierce Chiropractic effective today.

"Award-winning Fort Pierce Chiropractic has been a staple to the Treasure Coast community along Highway 1 for over 30 years. We anticipate building upon the historical success of this practice by introducing medical services to the current patient base receiving excellent spinal care from the existing team," said Jeff Ervin, IMAC's Chief Executive Officer.

The practice was purchased for an undisclosed amount, representing approximately 1x trailing twelve months cash flow. This acquisition further supports the Company's focus on meeting increased demand and awareness for non-surgical movement and sports medicine services. Fort Pierce Chiropractic is IMAC's third Florida acquisition this year, expanding its geographic footprint in central Florida. IMAC medical staff will be available for new patient evaluations onsite and via telehealth starting June 21.

"We continue to see long-term value through the acquisition of established practices which minimize execution risk of invested proceeds. Our team has worked diligently to source opportunities and capitalize on current market conditions. Florida and the southern United States remain target geographies in addition to expanding our Midwestern presence."

About IMAC Holdings, Inc.

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.

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