The Joint Corp. Acquires Northeast Regional Developer Territory
March 23 2022 - 07:05AM
The Joint Corp. (NASDAQ: JYNT), the nation's largest provider of
chiropractic care through The Joint Chiropractic® network,
acquired the regional developer territory of Northern New Jersey,
representing four franchised clinics and the opportunity for
additional corporate clinics, for $250,000 on March 17, 2022.
“Focused on increasing our corporate clinic
presence in the Northeast, The Joint acquired the regional
developer territory in Northern New Jersey,” said Peter D. Holt,
President and Chief Executive Officer of The Joint Corp. “This
purchase expands our platform to accelerate growth as we execute
our long-standing strategy to open greenfield clinics within
clusters. We continue to broaden brand recognition and drive toward
our goal of 1,000 clinics opened by the end of 2023 and even more
in the long term.”
On March 17, 2022, the company-owned or managed
portfolio reached 99 clinics, having opened three greenfield
clinics since December 31, 2021.
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, our
inability to identify and recruit enough qualified chiropractors
and other personnel to staff our clinics, due in part to the
nationwide labor shortage, 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, 2021, 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.
About The Joint Corp. (NASDAQ:
JYNT) The Joint Corp. revolutionized access to
chiropractic care when it introduced its retail healthcare business
model in 2010. Today, it is the nation's largest operator, manager
and franchisor of chiropractic clinics through The Joint
Chiropractic network. 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 700 locations nationwide and nearly 11
million patient visits annually, The Joint
Chiropractic is a key leader in the chiropractic industry.
Ranked number one on Forbes' 2022 America's Best Small
Companies list, number three on Fortune's 100
Fastest-Growing Companies list and consistently named
to Franchise Times "Top 400+ Franchises"
and Entrepreneur's "Franchise 500®" lists, The Joint
Chiropractic is an innovative force, where healthcare meets
retail. For more information, visit www.thejoint.com.
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.
Media Contact: Margie
Wojciechowski, The Joint Corp.,
margie.wojciechowski@thejoint.comInvestor Contact:
Kirsten Chapman, LHA Investor Relations, 415-433-3777,
thejoint@lhai.com
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