IMAC Expands Reach to Southwest Florida with Purchase of Established Practice in All Cash Transaction
IMAC Holdings, Inc. (IMAC)
Last imac holdings, inc. earnings: 11/14 09:00 am
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Source: GlobeNewswire
BRENTWOOD, Tenn., Jan. 13, 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 it has established its first clinic operation in Florida with the purchase of Chiropractic Health of Southwest Florida, Inc. in Bonita Springs. The transaction was completed as an all-cash asset purchase with the assumption of building lease liabilities. CHSF, established in 1998, delivers physical therapy, chiropractic care, and soft tissue therapies from the practice location on US 41. The practice has historically seen six figure net income annually and transacted at a price around one-times cash flow. IMAC anticipates implementing its regenerative rehabilitation offerings, including its recently announced patient wellness subscriptions to the clinic’s established services during the first half of 2020. “We are thr
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