Business
The Joint Corp. Acquires Wisconsin Regional Developer Territory Rights
Enhances Profitability Profile SCOTTSDALE, Ariz., June 20, 2023 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), the nation's largest provider of
About this update from The Joint Corp.
[{"type":"text","content":"Enhances Profitability Profile\nSCOTTSDALE, Ariz., June 20, 2023 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ: JYNT), the nation's largest provider of chiropractic care through The Joint Chiropractic® network, acquired the regional developer (RD) territory rights for Wisconsin for $950,000 on June 15, 2023. The demographic modeling for Wisconsin indicates the potential for a total of 53 clinics, including the 21 existing franchised clinics, one clinic in active development and 31 sites for future clinic development. “Acquiring the regional developer territory rights for Wisconsin will increase the margin contribution within the franchise segment,” said President and Chief Executive Officer of The Joint Corp. Peter D. Holt. “As the composition of our franchise system evolves, we continually evaluate opportunities, balancing increased profitability with the levers to accelerate growth like the RDs program. We thank the regional developers for their contribution to accelerate growth and building the solid foundation for developing the market.” 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 other factors described in ...