IMAC Holdings and Brain Scientific Announce a Strategic Merger to Create Synergistic End-To-End Neurological Solution
2023年3月20日 - 8:30PM
IMAC Holdings, Inc. (“IMAC”)(Nasdaq: BACK), a regenerative
rehabilitation company focused on treating musculoskeletal and
neurodegenerative disease, and Brain Scientific, Inc. (“Brain
Scientific”)(OTCQB:BRSFD), a Florida-based applied science
technology company, jointly announced today that they have executed
a binding Letter of Intent to combine companies in a strategic
merger-of-equals (the “Transaction”).
Together, the companies would provide patients
with true end-to-end neurological solutions using Brain
Scientific’s diagnostic and motion technologies and IMAC’s
regenerative rehabilitation medical services. Hassan Kotob, Chief
Executive Officer of Brain Scientific, is expected to serve as
Chairman and CEO of the combined company.
“We believe that the combination of IMAC and
Brain Scientific would be a match that provides a pathway to become
a leader, a destination, and trusted brand in the growing field of
neuro deficit disorders, diagnosis and treatment,” said Jeff Ervin,
CEO of IMAC. “Brain Scientific is developing an encouraging
distribution pipeline of their 510(k) and CE cleared products and,
under Hassan’s leadership, we anticipate expense synergies and
expanded service outlets will benefit all stakeholders.”
IMAC is comprised of two business segments:
outpatient medical centers and a clinical research division. IMAC
owns or manages outpatient medical clinics that deliver
regenerative rehabilitation services as a minimally invasive
approach to acute and chronic musculoskeletal and neurological
health problems. IMAC’s research division is currently conducting a
Phase I clinical trial evaluating a mesenchymal stem cell therapy
candidate for bradykinesia due to Parkinson’s disease.
Brain Scientific has over 24 patents, FDA and CE
certification. Brain Scientific’s disposable NeuroCap and portable
NeuroEEG enable neurologists to save time, see more patients, and
eliminate contamination risks. The company’s neurology ecosystem
provides clinicians and patients confidence in gaining rapid access
to accurate EEG test results, making testing more efficient and
allowing clinicians to focus on test readings rather than the
labor-intensive application process of current electrode placement
technology.
“At Brain Scientific, we are accelerating the
time to prep, test, and read EEG studies anytime and are finally
bringing EEG testing to remote locations and in the field,” said
Mr. Kotob. “We believe that a Brain Scientific and IMAC merger
would allow us to accelerate our growth and expand into new
channels and markets to provide those suffering from neurological
disorders with the best care possible.”
Advisors
Joseph Gunnar & Co., LLC is serving as the
exclusive financial advisor to IMAC and Brain Scientific in
connection with the Transaction. Olshan Frome Wolosky LLP is
serving as legal counsel for IMAC, and Lucosky Brookman LLP is
serving as legal counsel for Brain Scientific.
About IMAC Holdings, Inc.
IMAC Holdings owns and manages health and
wellness centers that deliver sports medicine, orthopedic care, and
restorative joint and tissue therapies for movement restricting
pain and neurodegenerative diseases. IMAC is comprised of
two business segments: outpatient medical centers and a clinical
research division. With treatments to address both young and aging
populations, IMAC Holdings owns or manages outpatient
medical clinics that deliver regenerative rehabilitation services
as a minimally invasive approach to acute and chronic
musculoskeletal and neurological health problems. IMAC’s research
division is currently conducting a Phase I clinical trial
evaluating a mesenchymal stem cell therapy candidate for
bradykinesia due to Parkinson’s disease. For more information visit
www.imacholdings.com.
About Brain Scientific,
Inc.
Brain Scientific Inc. (brainscientific.com) is
an applied sciences technology company with multiple patents and
FDA-cleared products. Brain Scientific is committed to developing
next-gen solutions that advance the future of medical and OEM
devices. Brain Scientific has two product lines covering neurology
and precision motion. The NeuroCap™ and NeuroEEG™ are smart
neurological diagnostic devices that simplify administration,
shorten scan time, and cut costs. The Piezo Motion product line
consists of ultra-efficient compact precision motors that will
drive the next generation of OEM devices. To learn more about Brain
Scientific's corporate strategy, products, or investor relations,
please visit brainscientific.com.
Forward-Looking Statements
This press release contains forward-looking
statements. These forward-looking statements, and terms such as
“anticipate,” “expect,” “believe,” “may,” “will,” “should” or other
comparable terms, are based largely on IMAC and
BRSF's expectations and are subject to a number of risks and
uncertainties, certain of which are beyond IMAC and
BRSF's control. Actual results could differ materially from
these forward-looking statements as a result of, among other
factors, risks and uncertainties associated with its ability to
maintain and grow its business, the variability of its operating
results, its ability to maintain and enhance its brand, its
development and introduction of new products and services, the
successful integration of acquired companies, technologies and
assets, marketing and other business development initiatives,
competition in the industry, general government regulation,
economic conditions, dependence on key personnel, the ability to
attract, hire and retain personnel who possess the skills and
experience necessary to meet customers’ requirements, and its
ability to protect its intellectual property. Consummation of the
merger transaction contemplated by the Letter of Intent is subject
to the execution and delivery of a definitive merger agreement, the
approval of each company's shareholders and the satisfaction of the
closing conditions which will be contained therein. It is
contemplated that the transaction will be consummated during the
summer of 2023, but there can be no assurance that a definitive
merger agreement will be entered into, or that the transaction will
be consummated upon the terms set forth in the Letter of Intent, or
otherwise. Additionally, there will be a number of risks attendant
upon the transaction including unforeseen operating difficulties
and expenditures during the process of integrating the companies.
IMAC and BRSF encourage you to review other factors that may
affect its future results in its public filings with
the Securities and Exchange Commission. In light of these
risks and uncertainties, there can be no assurance that the
forward-looking information contained in this press release will in
fact occur.
CONTACTS
IMAC Press Contact:Laura Fristoelfristoe@imacrc.comBrain
Scientific Contact:
INVESTORSir@brainscientific.com
MEDIApr@brainscientific.com
Corporate Communications
IBN (InvestorBrandNetwork)Los Angeles,
Californiawww.InvestorBrandNetwork.com310.299.1717
OfficeEditor@InvestorBrandNetwork.com
IMAC (NASDAQ:IMACW)
過去 株価チャート
から 5 2024 まで 6 2024
IMAC (NASDAQ:IMACW)
過去 株価チャート
から 6 2023 まで 6 2024