SCOTTSDALE, Ariz., May 23, 2022 (GLOBE NEWSWIRE) — The Joint Corp. (JYNT), the nation’s largest provider of chiropractic care through the Joint Chiropractic® network, acquired on 19th 2022.
“We are expanding and strengthening our portfolio of businesses in the Scottsdale/Phoenix area,” said Peter D. Holt, President and Chief Executive Officer of The Joint Corp. “This opportunity arose with a franchisee with multiple units and clinics in Arizona and California who wanted to consolidate their clinics only in California. Because these high-performing, mature clinics are located in our headquarters region, where we already have a cluster of 20 corporate clinics, we will quickly add them to our portfolio. The valuation is consistent with previous acquisitions and reflects the strength of these clinical teams. Therefore, we expect that they will have an immediate positive impact on the bottom line and improve the operating margin of our corporate clinic.”
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 regarding industry trends, our future financial and operating performance and our growth plans, given the information currently available to us. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from any expectations of future results that 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, the ongoing impact of the COVID-19 outbreak on the economy and our operations (including temporary clinic closures, reduced business hours and reduced patient demand), our development failures, or company-owned or managed acquire clinics as quickly as we intend, our failure to operate company-owned or managed clinics profitably, our inability to find and hire sufficient qualified chiropractors and other personnel for our clinics due in part to the nationwide labor shortage, and the others factors described under “Risk Factors” in our annual report on Form 10-K as filed with the SEC for the year ended December 31, 2021, updated or revised for material changes included in subsequent quarterly reports filed are described on Form 10-Q or other SEC filings. Words like “anticipate”, “believe”, “continue”, “estimate”, “expect”, “goal”, “goals”, “intend”, “may”, “opportunity”, “plan”, “potential”. “,”, “short-term”, “long-term”, “forecasts”, “assumptions”, “projects”, “guidance”, “forecasts”, “outlook”, “goal”, “trends”, “should”, “could” , “would”, “will” and similar expressions are intended to identify such forward-looking statements. We qualify all forward-looking statements fully by these cautionary statements. We undertake no obligation to update or revise any forward-looking statements for any reason, or to update the reasons that cause actual results to 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 prior periods are not intended to express future trends or indications of future performance unless expressed as such and should be considered historical data only.
About The Joint Corp. (JYNT)
The Joint Corp. revolutionized access to chiropractic care when it launched its retail healthcare business model in 2010. Today it is the nation’s largest operator, manager and franchisor of chiropractic clinics through the Joint Chiropractic Network. The company makes quality care convenient and affordable for millions of patients seeking pain relief and continued well-being, while eliminating the need for insurance. With more than 700 locations nationwide and nearly 11 million patient visits each year, The Joint Chiropractic is a leader in the chiropractic industry. Ranked #1 on Forbes list of America’s Best Small Businesses 2022, #3 on Fortune’s 100 Fastest Growing Companies list, and consistently featured in Franchise Times’ Top 400+ Franchises and Entrepreneur’s Franchise 500® lists called The Joint Chiropractic is an innovative force where healthcare meets retail. Visit www.thejoint.com for more information.
The Joint Corp. is a clinic franchisor and clinic operator in certain states. In Arkansas, California, Colorado, District of Columbia, Florida, Illinois, Kansas, Kentucky, Maryland, 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]