IMAC Holdings Enters Greater Chicago Market with Acquisition; Will Rebrand as Mike Ditka IMAC Regeneration Centers
IMAC Holdings, Inc. (IMAC)
Last imac holdings, inc. earnings: 11/14 09:00 am
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Source: GlobeNewswire
All-stock transaction expected to close in Q2 2019 BRENTWOOD, Tenn, April 02, 2019 (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, announces the signing of a merger agreement to acquire ISDI Holdings, Inc. (“ISDI”), a practice management group that manages three clinics in the Chicago area. The three managed clinics had consolidated net revenue of $5.0 million and net income of $0.8 million for the 12 months ended December 31, 2018. Under the terms of the merger agreement, IMAC will issue 1,002,306 shares of common stock at closing, which is expected to occur in the second quarter of 2019 following the satisfaction of certain conditions included in the merger agreement. Pursuant to the merger agreement, ISDI Holdings, Inc., the parent company of the Chicago clinics’ management, will merge with and into IMAC’s
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