Olshan Advises IMAC Regeneration Centers on Acquisition of Chicago Medical Clinics
The Firm acted as counsel to IMAC Holdings, Inc. in its continuing national expansion efforts by acquiring ISDI Holdings, Inc. and related entities, consisting of a series of medical practice management groups operating outpatient clinics in the Chicago area. Pursuant to a separate branding arrangement between IMAC and former Chicago Bears football coach Mike Ditka, each of the new Chicago clinics will be renamed the “Mike Ditka IMAC Regeneration Center.” IMAC Holdings owns and manages outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies, partnering with active and former professional athletes who currently include Ozzie Smith, David Price and Tony Delk. IMAC’s outpatient clinics are focused around treating sports and orthopedic injuries without surgery or opioids.
The acquisition comes approximately two months after the Firm represented IMAC in its underwritten “roll-up” initial public offering of common stock and listing of the stock on the Nasdaq Capital Market. IMAC completed the Chicago acquisition using all stock at its current market price, bringing the total number of its IMAC medical clinics under management to 14 clinics located primarily in the Midwest. The transaction closed on April 19.
The Olshan team was led by corporate partner Spencer Feldman, who handled the company’s IPO.