Orthopedic treatment provider IMAC Holdings' board of directors is exploring strategic alternatives for the company, including mergers, a spin-off or another strategic transaction.
"As our company continues to expand into complementary revenue streams, we believe the time is right to investigate a range of strategic alternatives with the intent to pursue profitable growth and maximize shareholder value," Jeffrey Ervin, IMAC's CEO, said in a July 26 press release.
In 2021, IMAC launched a partnership with Walmart, placing its chiropractic clinics, the Back Space, in certain stores throughout the country. By 2022, Walmart and IMAC expanded their partnership, adding additional spine and chiropractic locations.
IMAC also operates 10 outpatient clinics and in 2020 initiated a clinical trial studying stem cell treatment of bradykinesia in Parkinson's disease patients.
IMAC did not disclose a timetable or any additional details on its strategic alternatives.