PainCare Holdings, Inc. (PainCare), incorporated in May 1984, is a healthcare services company focused on the treatment of pain. Through the Company's 21 pain-focused physician practices and nine outpatient surgery centers, it offers pain management, minimally invasive spine surgery and ancillary services, including orthopedic rehabilitation, electrodiagnostic medicine, intra-articular joint injections and diagnostic imaging services. PainCare's physicians are trained in specialties, such as interventional pain management and orthopedics or physiatry. Through the Company's subsidiaries, it operates three types of practice arrangements: PainCare employs licensed physicians in seven practices, which it owns; the Company has acquired the non-medical assets and it provides general management services to 14 physician practices, and PainCare provides limited management services to 34 physician practices in areas, such as in-house physical therapy, electrodiagnostic services and intra-articular joint injection programs. Orthopedic Rehabilitation Services The Company has a program for the deployment of orthopedic rehabilitation services to the physician practice that facilitates strength testing and restoration of function within the physician office environment. PainCare provides all supplies and equipment necessary for the operation of the clinic, including MedX equipment. MedX equipment has been clinically and academically demonstrated to be efficacious in rehabilitating patients. Electrodiagnostic Services PainCare has a program for the deployment of an electrodiagnostic medicine program as a direct extension of the neurologic portion of the physical examination. The Company provides electrodiagnostic equipment, supplies, and technicians to perform procedures and arrange for physician over-read and review of results. Diagnostic Imagery and Intra-Articular Joint Program The Company deploys magnetic resonance imagery (MRI) technology to selected facilities. In January 2005, PainCare unveiled an ancillary service designed to address severe knee pain and stiffness caused by osteoarthritis. The intra-articular joint program will be integrated into the service offerings provided by each suitable physician practice in its national healthcare organization. In addition, the intra-articular joint program will be marketed nationally to non-affiliated physician practice groups under a limited management agreement, similar to the Company's orthopedic rehabilitation and electro diagnostic medicine programs. Real Estate Services PainCare provides real estate services to practices, which require additional office space or a specialty installation, such as a fluoroscopy suite or in-office procedure room. The Company's services include locating additional office space within the practice's local area; negotiation of purchase or lease terms; analysis of building codes, architectural requirements and design services, and construction management services. The Company competes with HealthSouth, Inc., U.S. Physical Therapy, Inc., Symbion and AmSurg Corp.