– Initiates Growth Acceleration Plan with Clinic Buyback –
– Expands Regional Cluster and Leverages Existing Infrastructure –
SCOTTSDALE, Ariz., April 09, 2018 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ:JYNT), a national operator, manager and franchisor of chiropractic clinics, repurchased a franchised clinic located at Carmel Mountain in San Diego, increasing the number of company-owned or managed clinics to 48.
“Adding the Carmel Mountain location to our company owned or managed clinics marks the beginning of a new phase of growth for The Joint,” stated Peter D. Holt, president and chief executive officer of The Joint Corp. “In mid-2016, we paused expansion of our corporate clinic portfolio until we achieved positive Adjusted EBITDA. Having accomplished that goal in 2017, we are now prepared to return to adding to our corporate portfolio in a strategic and measured fashion, focusing on opportunistically acquiring existing franchised clinics that fit within our overall expansion strategy and considering building new “greenfield” clinics. I cannot overstate our commitment to approaching our return to expanding the corporate portfolio in a deliberate manner, with a vigilant eye focused on the interests of our stockholders and our existing franchisees. The Carmel Mountain Clinic is ideally located within a market where we enjoy a cluster of clinics. We believe the larger our footprint, the greater our opportunity to leverage marketing and IT, to heighten our brand awareness nationally, to grow our business, and to enhance shareholder value.”
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, 2017, 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.
About The Joint Corp. (NASDAQ:JYNT)
Based in Scottsdale, Arizona, The Joint is an emerging growth company that is reinventing chiropractic 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 400 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, Florida, Illinois, Kansas, Minnesota, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Tennessee and Washington, The Joint and its franchisees provide management services to affiliated professional chiropractic practices.
Media Contact: Molly Hottle, The Joint Corp., molly.hottle@thejoint.com
Investor Contact: Kirsten Chapman, LHA Investor Relations, 415-433-3777, thejoint@lhai.com