The Joint Corp. Opens First Corporately Managed Greenfield Clinic Since 2016
- Grew Total Clinics to 442 at December 31, 2018 -
- Increased Corporate Clinic Count to 49 as of February 15, 2019 -
SCOTTSDALE, Ariz., Feb. 19, 2019 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), a national operator, manager and franchisor of chiropractic clinics, announced it opened a corporately managed clinic in Carlsbad, CA on February 15, 2019. This marks the first corporately managed clinic to open as a greenfield, rather than by acquisition from an existing franchisee, since 2016 and the thirteenth clinic in the San Diego area.
Peter D. Holt, President and Chief Executive Officer of The Joint Corp., said, “We are excited to have opened our first greenfield clinic since May 2016. Two and a half years ago, we suspended our corporate clinic expansion as the team set out to stabilize the company. We improved franchise relations, restructured operations, and reinvested in franchise sales. Once our portfolio of corporate owned or managed clinics became profitable, we returned to evaluating greenfield opportunities. We focus on clustered locations that leverage existing infrastructure, construction and marketing, which enhances brand building in the market.”
“The San Diego market has demonstrated growing adoption of chiropractic care, and we are delighted to expand our footprint in this increasingly important region,” concluded Holt.
Clinic Expansion
During the quarter ended December 31, 2018, The Joint opened 22 franchised clinics, the most in a quarter in the company’s history. The total clinic count increased to 442, including 394 franchised clinics and 48 corporate owned or managed clinics. The newly opened greenfield brings the corporate clinic count to 49 as of February 15, 2019.
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 425 clinics nationwide and nearly 5 million patient visits annually, The Joint is a key leader in the chiropractic profession. For more information, visit 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.
Media Contact: Margie Wojciechowski, The Joint Corp., [email protected]
Investor Contact: Kirsten Chapman, LHA Investor Relations, 415-433-3777, [email protected]
Released February 19, 2019