Welcome to our dedicated page for Imac Hldgs news (Ticker: BACK), a resource for investors and traders seeking the latest updates and insights on Imac Hldgs stock.
IMAC Holdings Inc (BACK) delivers innovative non-invasive medical treatments through its network of IMAC Regeneration Centers and BackSpace clinics. This news hub provides investors and healthcare professionals with timely updates on the company’s advancements in integrative medicine and value-based care.
Access official press releases, earnings reports, and regulatory filings alongside analysis of clinical developments in regenerative therapies. Track key initiatives including treatment protocol innovations, partnership announcements, and research breakthroughs in proteomic diagnostics.
Our curated news collection enables you to monitor:
• Quarterly financial performance and growth metrics
• Regulatory milestones for new treatment approvals
• Clinical study results validating non-invasive approaches
• Strategic expansions of rehabilitation center networks
Bookmark this page for consolidated access to verified information about IMAC’s position in the evolving healthcare landscape. Check regularly for updates on conservative care alternatives reshaping orthopedic treatment paradigms.
IMAC Holdings has appointed Dr. Peter Beitsch and Dr. Matthew Schwartz to its Board of Directors, effective June 26, 2024. This strategic move aims to advance IMAC’s position in proteomics and precision medicine. Dr. Schwartz, with over 18 years of experience in radiotherapy and precision oncology, and Dr. Beitsch, with a background in surgical oncology and genomics, will contribute their expertise to guide IMAC's strategic initiatives. Their appointments align with the company's mission to revolutionize cancer treatment through proteomic technologies.
IMAC Holdings announced a major leadership transition, appointing Faith Zaslavsky as CEO, succeeding Jeff Ervin. This move aims to drive forward its newly acquired assets in the proteomics and precision medicine industry.
Zaslavsky brings 23 years of experience in the genomic space, having previously served as COO and CEO of Theralink Technologies and President of Oncology at Myriad Genetics. Her leadership is expected to enhance IMAC's mission of providing personalized treatment plans for cancer patients.
IMAC's RPPA technology, proven through clinical trials as a superior indicator for drug selection in breast cancer, is set to become an essential test for various cancers. The board now consists of three independent members following the resignation of co-founders Dr. Matt Wallis and Jeff Ervin, with Ervin continuing as a transition consultant.
IMAC Holdings, Inc. (NASDAQ: BACK) has acquired the assets of Theralink in a settlement agreement, excluding certain assets, to resolve outstanding debt issues. A merger with Theralink is no longer necessary, and a termination agreement has been entered into. The Registration Statement on Form S-4 has been withdrawn. The acquisition aims to continue the precision medicine business, focusing on advancements in breast cancer diagnostics.
IMAC Holdings reported a 14% annual revenue increase, totaling $16.1 million for FY 2022, up from $14.1 million in 2021. Patient revenue per visit rose to $105 compared to $84 in the previous year. Key initiatives include the completion of a Phase 1 clinical study for Parkinson’s disease and a merger agreement with Brain Scientific.
Despite the revenue growth, operating expenses rose significantly, leading to a higher operating loss of $18.2 million. Cash reserves dropped to $0.8 million from $7.1 million year-over-year due to a one-time $0.30/share impairment loss.
IMAC Holdings and Brain Scientific Announce Strategic Merger
On March 20, 2023, IMAC Holdings (BACK) and Brain Scientific (BRSFD) revealed a binding Letter of Intent for a merger-of-equals aimed at advancing solutions for neurological disorders like Parkinson's and Alzheimer's. The combined entity plans to leverage Brain Scientific's diagnostic technologies alongside IMAC's regenerative rehabilitation services. CEO Hassan Kotob of Brain Scientific will likely become Chairman and CEO of the newly formed company. The transaction is anticipated to close in summer 2023, pending shareholder approval and other conditions.
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