Expansion of Additional Company Owned or Managed Clinics & Acquisition of Regional Developer Rights
Announces first greenfield clinics in Tucson, Ariz.
SCOTTSDALE, Ariz.—June 8, 2015 —The Joint Corp. (Nasdaq:JYNT), a national healthcare operator and franchisor of chiropractic clinics, today announced that, in accordance with its strategy to expand its brand presence nationally by developing and operating company owned or managed clinics and by reacquiring select regional developer rights, it has repurchased or acquired 19 franchises in Los Angeles, San Diego and Orange County, Calif. as well as Phoenix and Tucson, Ariz. since the beginning of 2015. These acquisitions, along with previously announced acquisitions, bring the total number of company owned or managed clinics to 23 year to date and underscores the company’s commitment to building a strong initial presence in key western markets.
The Joint Corp. also announced today the acquisition of regional developer licenses in New Jersey, Orange County, Calif. and San Diego paving the way for significant future corporate development in these markets. With the acquisition of regional developer licenses in these important markets, along with previously acquired licenses in Los Angeles, the company now controls four of the top six metropolitan statistical areas (MSAs) in the United States for further clinic growth.
As an important part of its strategy to establish concentrated operating clusters in key markets in the U.S., The Joint Corp. announced that it is planning to open two greenfield clinics in Tucson, Ariz. in the third quarter of 2015, further expanding the presence it established in Tucson earlier this year through a clinic acquisition.
Financial terms of the transactions announced today were not disclosed.
“We are pleased with our rapid progress in acquiring these franchises and regional developer territories,” said David Orwasher, president and chief operating officer of The Joint Corp. “Our progress in acquiring and upgrading these operations is nicely on target.”
“The acquisition of key regions in the eastern and western United States means we now control the top three MSAs in the country for further development,” added John B. Richards, chief executive officer of The Joint Corp. “This reaffirms our commitment to rapidly build a strong national concept and brand.”
About The Joint Corp. (NASDAQ: JYNT)
Based in Scottsdale, Ariz., The Joint…the chiropractic place® is reinventing chiropractic care by making quality alternative healthcare affordable for patients seeking pain relief and ongoing wellness. Our membership plans and packages eliminate the need for insurance, and our no-appointment policy, convenient hours and locations make care more accessible. The Joint performs more than two million spinal adjustments a year across 250+ clinics nationwide. For more information, visit www.thejoint.com, follow us on Twitter @thejointchiro and find us on Facebook, You Tube and LinkedIn.
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.
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