IMAC Holdings, Inc., a clinical research and commercialization company based in Franklin, Tennessee, announced on May 1, 2024 that it has acquired the assets of Theralink Technologies, Inc. as part of a settlement and release agreement between the two companies. The purchase was made in order to settle the unpaid debt of Theralink. The agreement also included the issuance of IMAC Holdings preferred stock to Theralink and/or certain holders of Theralink debt following a third-party evaluation of Theralink’s business.
In light of these developments, IMAC Holdings has decided to formally withdraw its registration statement on Form S-4 relating to the now terminated merger agreement. The company believes this new settlement agreement will allow Theralink’s advances in breast cancer diagnostics to continue to advance under the umbrella of IMAC Holdings.
Jeff Erwin, chief executive officer of IMAC Holdings, said the settlement will allow Theralink’s services to be commercialized more efficiently and effectively. The company is now focusing on stabilizing the business and transitioning key employees to further leverage the success of Theralink’s proteomic analysis and precision medicine expertise.
IMAC Holdings specializes in advancing medicine and care in the oncology, neurology and orthopedic fields. For more information about the company, visit www.imaholdings.com. For investor inquiries, please contact jeff@imaholdings.com