Brain Scientific (OTCQB: BRSF), a Florida-based applied science technology company, and IMAC Holdings (NASDAQ: BACK), a regenerative rehabilitation company focused on treating musculoskeletal and neurodegenerative disease, have executed a binding letter of intent (“LOI”) to combine companies in a strategic merger-of-equals. The agreement calls for the two companies to provide patients with end-to-end neurological solutions by combining Brain Scientific’s diagnostic and motion technologies and IMAC’s regenerative rehabilitation medical services. According to the announcement, the companies anticipate that Brain Scientific CEO Hassan Kotob will serve as chairman and CEO of the combined company. IMAC is made of two business segments — outpatient medical centers and a clinical research division; the research division is involved in a phase I clinical trial evaluating a mesenchymal stem cell therapy candidate for bradykinesia due to Parkinson’s disease. Brain Scientific has more than 24 patents and offers its proprietary disposable NeuroCap and portable NeuroEEG designed to enable neurologists to save time, see more patients and eliminate contamination risks. “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 Brain Scientific CEO Hassan Kotob in the press release. “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.”
To view the full press release, visit https://ibn.fm/LFW7U
About Brain Scientific Inc.
Brain Scientific 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(TM) and NeuroEEG(TM) are smart neurological diagnostic devices that simplify administration, shorten scan time and cut costs. The Piezo Motion product line consists of ultraefficient compact precision motors that will drive the next generation of OEM devices. To learn more about the company, visit www.BrainScientific.com.
NOTE TO INVESTORS: The latest news and updates relating to BRSF are available in the company’s newsroom at https://ibn.fm/BRSF
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