The Joint Corp. Opens 300th Clinic and Provides Corporate Expansion Update
63 New Clinics Added Year to Date, Including 13 Greenfield Clinics
SCOTTSDALE, Ariz., Dec. 21, 2015 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ:JYNT), a national operator, manager and franchisor of chiropractic clinics, today announced an update on its corporate expansion, including the opening of the 300th clinic in its system. These initiatives are in accordance with the Company’s strategy to expand its brand presence nationally by developing both company owned or managed and franchised clinics in concentrated, targeted clusters across the country.
Year to Date (November 30th) Clinic Expansion Highlights
- Opened the 300th clinic in its system, in Santa Ana, California.
- Opened 13 newly-developed (greenfield) clinics in the Los Angeles, Tucson and Chicago markets and added an additional 25 company-owned or managed clinics to date in 2015.
- Opened 50 franchised clinics so far in 2015.
- 300 total clinics in operation as of November 30, 2015, including 38 company owned or managed clinics and 262 franchised clinics.
David Orwasher, chief development and strategy officer of The Joint Corp., commented, “We are proud of our growth thus far, and proud of having entered the country’s third largest MSA, Chicago, with three managed clinics as of November 30th, 2015. We now have concentrations of company owned or managed clinics in Phoenix and Los Angeles, as well as Chicago, three of the largest MSAs in the country. We look forward to continuing to grow our number of clinics in focused, clustered concentrations across what is now 27 states.”
“Our strong clinic growth is supported by strong system-wide Comp Sales1 of 30%, as previously reported for the first nine months of 2015,” stated John B. Richards, chief executive officer of The Joint Corp. “In addition, our affiliated professional chiropractors have executed over 2.9 million adjustments so far in 2015 across 300 clinics in 27 states, confirming our mission to deliver convenient and affordable chiropractic care to all.”
1 Comp Sales include only the sales from clinics that have been open at least 13 full months and exclude any clinics that have closed.
About The Joint Corp.
The Joint is reinventing chiropractic by making quality care convenient and affordable for patients seeking pain relief and ongoing wellness. Our no-appointment policy and convenient hours and locations make care more accessible, and our affordable membership plans and packages eliminate the need for insurance. With 300 clinics nationwide and over two million patient visits annually, The Joint is an emerging growth company and key leader in the chiropractic profession. For more information, visit www.thejoint.com, follow us on Twitter @thejointchiro and find us on Facebook, YouTube and LinkedIn.
Forward-Looking Statements
This 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, our failure to develop or acquire corporate clinics as rapidly as we intend, our failure to profitably operate corporate clinics, and the factors described in “Risk Factors” in The Joint Corp.’s Registration Statement on Form S-1. 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.
Investor Contact: Peter Vozzo [email protected] 443-213-0505 Media Contact: Marcia Rhodes [email protected] 480-664-8412, ext. 15
Released December 21, 2015