The Joint Corp. Acquires Four Clinics
- Enters the Growing Georgia/South Carolina Market with Three Clinics -
- Expands the Phoenix, Arizona Corporate Portfolio -
SCOTTSDALE, Ariz., July 18, 2019 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), a national operator, manager and franchisor of chiropractic clinics, acquired four franchised clinics increasing the number of company-owned or managed clinics to 55.
One of the purchased clinics is located in Phoenix, AZ and adds to the existing seven corporate clinics in the area that are part of the cluster of 30 clinics in the Phoenix/Scottsdale area. The other three units are in the Savannah, Georgia/South Carolina region and establish a new corporate clinic foothold in a thriving market where 21 The Joint clinics are in operation.
“As laid out in our 2019 guidance, we continue to accelerate our corporate clinic portfolio expansion, emphasizing a clustering strategy,” said Peter D. Holt, President and Chief Executive Officer of The Joint Corp. “This quarter, we are capitalizing on an opportunity to broaden a very successful market in Phoenix. Further, we are thoughtfully entering a proven region with a collection of corporate clinics in the Georgia/South Carolina region. These acquisitions leverage existing infrastructure, support and marketing, as well as enhance our overall company-owned or managed clinic economics.”
About The Joint Corp. (NASDAQ: JYNT):
Based in Scottsdale, Arizona, The Joint is an emerging growth company that is reinventing chiropractic care by making quality care convenient and affordable for patients seeking pain relief and ongoing wellness. Its no-appointment policy and convenient hours and locations make care more accessible, and affordable membership plans and packages eliminate the need for insurance. With over 450 clinics nationwide and over 6 million patient visits annually, The Joint is a key leader in the chiropractic profession. For more information, visit http://www.thejoint.com or follow the brand on Twitter, Facebook, YouTube and LinkedIn.
Business Structure
The 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, Massachusetts, 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.
Contact Information
Media Contact: Margie Wojciechowski, The Joint Corp., [email protected]
Investor Contact: Kirsten Chapman, LHA Investor Relations, 415-433-3777, [email protected]
Released July 18, 2019