The Joint Corp. Acquires Clinics in Albuquerque and Inland Empire
Emphasizes Drive to Acquire Accretive Acquisitions
SCOTTSDALE, Ariz., May 25, 2016 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ:JYNT), a national operator, manager and franchisor of chiropractic clinics, today announced its recent acquisitions in the Albuquerque and Inland Empire markets, which has resulted in an additional six company-owned or managed clinics. This represents another step in the Company’s strategy to expand its brand nationally by developing company owned or managed and franchised clinics in concentrated, targeted clusters across the country.
The Company acquired three previously franchised clinics located in the Albuquerque, New Mexico market at the end of April, 2016, and acquired three previously franchised clinics located in Riverside County and San Bernardino County, California in early May.
“These acquired clinics are strategically and financially very favorable to The Joint Corp., as they not only expand the number of clinics that we own or manage, but are immediately accretive to Adjusted EBITDA,” said John B. Richards, chief executive officer of The Joint Corp. “We will continue to apply our clustering strategy to our company clinics as we continually seek to leverage and improve system wide operational and marketing efficiencies. Our acquisitions in Albuquerque and the Inland Empire reflect our continued effort to enhance access to high quality, affordable chiropractic care in core markets.”
About The Joint Corp. (NASDAQ:JYNT)
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 330+ clinics nationwide and more than 3 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, You Tube and LinkedIn.
Business Structure
The Joint Corp. is a franchisor of clinics and an operator of clinics in certain states. In California, Colorado, Florida, Illinois, Minnesota, New Jersey, New York, North Carolina, Oregon and Tennessee, The Joint and its franchisees provide management services to affiliated professional chiropractic practices.
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 our Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the SEC. 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 peter.vozzo@westwicke.com 443-213-0505 Media Contact: Inna Lazarev Public Relations Manager Inna.lazarev@thejoint.com
Released May 25, 2016