The Joint Corp. Announces Plans for Aggressive Corporate Expansion
The Joint Corp. (NASDAQ: JYNT), a national healthcare operator and franchisor of chiropractic clinics, today announced plans for further aggressive corporate expansion in. This initiative is in accordance with the Company’s strategy to expand its brand presence nationally by developing and operating company-owned or managed clinics in concentrated clusters.
The Joint Corp. signed six new leases and expects to open approximately 12 new company-managed clinics by the end of 2015 in Los Angeles/ Orange County, California, the second largest metropolitan statistical area (MSA) in the country. The opening of these clinics will bring the total number of franchised and corporate clinics to approximately 24 in the Los Angeles/ Orange County market by the end of 2015.
In addition, the Company has signed four leases and expects to open four company-managed clinics by the end of 2015 for its entry into the Chicago market, the country’s third largest MSA. These clinics will open in concentrated clusters consistent with the Company’s strategy to maximize market and brand impact and increase operational efficiencies.
Frank Joyce, chief financial officer of The Joint Corp., commented, “These planned clinic openings, together with previously opened and acquired clinics in Los Angeles; Orange County, California; San Diego; Tucson and Phoenix, mark significant milestones in our initiative to open new corporate clinics in 2015.”