Matthew Schwartz
About Matthew Schwartz
Matthew Schwartz, MD (age 49), is an independent director of IMAC Holdings, Inc. (ticker: BACK), appointed in June 2024. He is a radiation oncologist with two decades of oncology and biotech experience, including leadership at Comprehensive Cancer Centers of Nevada and roles across US Oncology/McKesson networks. Dr. Schwartz trained at McGill (Chief Resident) and Yale–New Haven Hospital, and co-founded Las Vegas CyberKnife; he currently chairs its Board of Managers .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Comprehensive Cancer Centers of Nevada (CCCN) | Board member; Chair, Marketing Committee | 2011–2020 | Led marketing strategy; oncology practice leadership |
| Las Vegas CyberKnife | Co-founder; Chairman, Board of Managers | 2010–Present | Advanced non-invasive targeted radiation therapy programs |
| US Oncology Network | Radiation Oncology Leadership Council; Clinical Pathways Committee | Not disclosed | Contributed to clinical standards and pathways |
| McKesson Specialty Health | Radiation Executive Committee | Not disclosed | Executive committee oversight for radiation oncology |
External Roles
| Company/Organization | Role | Tenure | Notes |
|---|---|---|---|
| Theralink Technologies, Inc. | Director | 2022–2024 | BACK acquired Theralink assets on May 1, 2024 |
| Avant Diagnostics | Director | 2019–2020 | Public-company board experience |
| Dallas Surgical Group; Targeted Medical Education | Surgeon; Co-founder | Not disclosed | Oncology research and education (TME acquired by Aptitude Health in 2022) |
Board Governance
- Independence: Board determined Dr. Schwartz is independent under Nasdaq rules; all five directors were independent as of the 2024 proxy .
- Committee assignments (as of July 30, 2024): Audit (Pruitt—Chair; Evans; Sucoff), Compensation (Evans—Chair; Pruitt; Sucoff), Nominating & Governance (Sucoff—Chair; Evans; Pruitt). Dr. Schwartz was not listed on these committees at that time .
- Board leadership changes: Interim Chair Cary Sucoff resigned effective September 9, 2024; committee composition likely changed thereafter (no updated committee roster in provided filings) .
- Attendance/engagement: The Board met nine times in 2023; all directors at that time attended all meetings. Independent directors meet in executive session at least twice annually .
Fixed Compensation
Non-employee director compensation policy disclosed for FY2023 (preceding Dr. Schwartz’s appointment; included here to benchmark board pay levels):
| Component | FY2023 Amount | Notes |
|---|---|---|
| Annual cash fees | $45,000 | $11,250 per quarter per non-employee director |
| Equity (RSUs, grant-date fair value) | $14,300 | 3,333 RSUs; immediate vesting |
| Total annual director pay | $59,300 | Illustrative per-director total (Evans, Pruitt, Sucoff each) |
Dr. Schwartz did not serve during FY2023; his specific director compensation since joining in June 2024 was not disclosed in the provided filings .
Performance Compensation
- No performance-based metrics were disclosed for non-employee director equity in FY2023; RSUs to directors vested immediately .
| Performance Metric | Weight/Target | Payout Formula | Notes |
|---|---|---|---|
| Not disclosed for directors | N/A | N/A | Director awards were time/immediate-vest RSUs; no performance metrics specified |
Other Directorships & Interlocks
| Topic | Details |
|---|---|
| Interlock/Transaction link | Dr. Schwartz served on Theralink’s board (2022–2024); BACK acquired Theralink’s assets on May 1, 2024, and terminated the merger agreement on May 6, 2024 . |
| Related-party transactions | The 2024 proxy disclosed a related-party marketing arrangement with The Molo Agency owned by director Maurice Evans; no related-party transactions involving Dr. Schwartz were disclosed . |
Expertise & Qualifications
- Oncology domain expertise: Radiation oncologist; leadership roles in US Oncology/McKesson committees; deep experience with proteomics/precision medicine relevant to BACK’s RPPA platform .
- Governance/board experience: Prior director roles at Theralink and Avant Diagnostics; experience overseeing payer/provider-facing commercialization in oncology .
- Education/training: McGill (Chief Resident), Yale–New Haven Hospital (residency/fellowship) .
Equity Ownership
| Record Date | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| July 17, 2024 | 40,879 | 2.3% | Includes shares issuable upon conversion of currently convertible preferred stock; 1,721,819 common shares outstanding at record date |
| January 27, 2025 | 3,333 | <1% (*) | Beneficial ownership table at 2,071,812 common shares outstanding |
Company policy restricts speculative transactions and discourages hedging; pre-clearance required for equity transactions . No pledging or hedging by Dr. Schwartz was disclosed .
Governance Assessment
-
Strengths
- Independent director with highly relevant oncology and precision medicine expertise aligned to BACK’s RPPA strategy .
- Board-level independence framework and clawback policy (Rule 10D-1) support investor-aligned governance .
-
Watch items
- Potential perceived conflict/interlock: Prior Theralink directorship alongside BACK’s acquisition of Theralink assets; monitor recusal and oversight arrangements around any post-closing consideration to Theralink stakeholders (e.g., preferred shares contemplated in settlement) .
- Committee workload transition: Resignation of the interim independent chair (Sucoff) in Sept 2024 implies subsequent committee reshuffling; updated roles for Dr. Schwartz not disclosed in provided filings .
-
Board effectiveness context
- All directors were deemed independent as of the 2024 proxy; committees composed entirely of independent directors, with executive sessions at least twice annually .
- 2023 attendance was 100% among then-serving directors; no 2024 attendance disclosure specific to Dr. Schwartz .
RED FLAG (monitor): Prior Theralink board service combined with BACK’s asset acquisition from Theralink may present perceived conflict risks; ensure robust recusal and disclosure if related matters come to the Board .