The Joint Corp. Enters New Market, Opening the First Clinic in a Series of Six Planned Corporate Clinics
The Joint Corp. (NASDAQ: JYNT), the nation’s largest operator,
manager, and franchisor of chiropractic clinics, opened a new
corporate clinic in Virginia Beach, VA. This is the first of six
greenfield clinics scheduled to open in Virginia in 2021.
“The Joint is accelerating our expansion through franchised
clinic openings and new strategically located corporate greenfield
clinics in clustered locations,” said President and CEO Peter D.
Holt. “We’re delighted to mark our first clinic opening in our
newest market, the Virginia Beach area. This greenfield clinic, the
first in a series of six scheduled to open in a short period of
time, bolsters our position in the Southeast. By expanding our
portfolio, we are increasing our presence as well as our national
brand awareness, which attracts patients, increases demand, and
The Joint reiterated guidance on May 6 that the company expects
to increase the number of corporate clinics by between 20 and 30 in
2021 through a combination of both opening new greenfield clinics
and acquiring clinics from franchisees. As management drives toward
its goal of 1,000 clinics opened by the end of 2023, openings will
be more heavily weighted to greenfield clinics and less by
franchised clinic acquisitions. The additional 2021 greenfield
clinic openings are targeted for existing clusters in Arizona,
California, and New Mexico.
About The Joint ChiropracticThe Joint Corp.
revolutionized access to chiropractic care when it introduced its
retail healthcare business model in 2010. Today, the company is
making quality care convenient and affordable, while eliminating
the need for insurance, for millions of patients seeking pain
relief and ongoing wellness. With more than 600 locations
nationwide and over eight million patient visits annually, The
Joint Chiropractic is a key leader in the chiropractic industry.
Named on Franchise Times “Top 200+ Franchises” and Entrepreneur’s
“Franchise 500®” lists, The Joint Chiropractic is an innovative
force, where healthcare meets retail. For more information, visit
Business StructureThe Joint Corp. is a
franchisor of clinics and an operator of clinics in certain states.
In Arkansas, California, Colorado, District of Columbia, Florida,
Illinois, Kansas, Kentucky, Maryland, Michigan, Minnesota, New
Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode
Island, South Dakota, Tennessee, Washington, West Virginia and
Wyoming, The Joint Corp. and its franchisees provide management
services to affiliated professional chiropractic practices.
Forward-Looking StatementsThis press release
contains statements about future events and expectations that
constitute forward-looking statements. Forward-looking statements
are based on our beliefs, assumptions and expectations of industry
trends, our future financial and operating performance and our
growth plans, taking into account the information currently
available to us. These statements are not statements of historical
fact. Forward-looking statements involve risks and uncertainties
that may cause our actual results to differ materially from the
expectations of future results we express or imply in any
forward-looking statements, and you should not place undue reliance
on such statements. Factors that could contribute to these
differences include, but are not limited to, the continuing impact
of the COVID-19 outbreak on the economy and our operations
(including temporary clinic closures, shortened business hours and
reduced patient demand), our failure to develop or acquire
company-owned or managed clinics as rapidly as we intend, our
failure to profitably operate company-owned or managed clinics, and
the other factors described in “Risk Factors” in our Annual Report
on Form 10-K as filed with the SEC for the year ended December 31,
2020, as updated or revised for any material changes described in
any subsequently-filed Quarterly Reports on Form 10-Q or other SEC
filings. Words such as, "anticipates," "believes," "continues,"
"estimates," "expects," "goal," "objectives," "intends," "may,"
"opportunity," "plans," "potential," "near-term," "long-term,"
"projections," "assumptions," "projects," "guidance," "forecasts,"
"outlook," "target," "trends," "should," "could," "would," "will,"
and similar expressions are intended to identify such
forward-looking statements. We qualify any forward-looking
statements entirely by these cautionary factors. We assume no
obligation to update or revise any forward-looking statements for
any reason or to update the reasons actual results could differ
materially from those anticipated in these forward-looking
statements, even if new information becomes available in the
future. Comparisons of results for current and any prior periods
are not intended to express any future trends or indications of
future performance, unless expressed as such, and should only be
viewed as historical data.
Media Contact: Margie Wojciechowski, The
Joint Corp., email@example.com Investor
Contact: Kirsten Chapman, LHA Investor Relations,
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