Business
The Joint Corp. Acquires Northeast Regional Developer Territory
- Expands Corporate Clinic Opportunity in the Northeast Region - SCOTTSDALE, Ariz., March 23, 2022 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), the
About this update from The Joint Corp.
[{"type":"text","content":"- Expands Corporate Clinic Opportunity in the Northeast Region - SCOTTSDALE, Ariz., March 23, 2022 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), the nation's largest provider of chiropractic care through The Joint Chiropractic® network, acquired the regional developer territory of Northern New Jersey, representing four franchised clinics and the opportunity for additional corporate clinics, for $250,000 on March 17, 2022. “Focused on increasing our corporate clinic presence in the Northeast, The Joint acquired the regional developer territory in Northern New Jersey,” said Peter D. Holt, President and Chief Executive Officer of The Joint Corp. “This purchase expands our platform to accelerate growth as we execute our long-standing strategy to open greenfield clinics within clusters. We continue to broaden brand recognition and drive toward our goal of 1,000 clinics opened by the end of 2023 and even more in the long term.” On March 17, 2022, the company-owned or managed portfolio reached 99 clinics, having opened three greenfield clinics since December 31, 2021. Forward-Looking StatementsThis 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, the continuing impact of the COVID-19 outbreak on the economy and our operations (including temporary clinic closures, shortened business hours and reduced patient demand), our failure to develop or acquire company-owned or managed clinics as rapidly as we intend, our failure to profitably operate company-owned or managed clinics, our inability to identify and recruit enough qualified chiropractors and other personnel to staff our clinics, due in part to the nationwide labor shortage, and the...