Joint Corp. refranchises chiropractic clinics, eyes leadership

The Joint Corp. (NASDAQ: JYNT), the US’s largest franchisor of chiropractic care through The Joint Chiropractic® network, is expanding its footprint.

UPDATE: The Joint has sold 31 corporate owned and managed chiropractic clinics in Arizona and New Mexico to Joint Ventures LLC in exchange for $8.3 million in cash and the regional developer (RD) territory rights of the Northwest region.

In addition, the company refranchised five chiropractic clinics to Chiro 93 LLC in the Kansas City region.

• Joint Ventures, The Joint’s largest franchisee, acquired 31 clinics, increasing its clinic count to 96 clinics located throughout California, Oregon, New Mexico and Arizona, and agreed to open another 10 clinics in this same region.
• The Joint acquired the regional developer rights to the Northwest region, consisting of 46 existing franchised clinics and 30 sites for future clinic development.
• The Joint sold the five clinics along with future development rights in the Kansas City region to Chiro 93, led by existing franchisee Clint Morrow, DC.

Joint Ventures franchisee Chris O’Neal stated, “We are proud to be the largest franchise group at The Joint and plan to increase our ownership by more than 50% to over 100 clinics when we complete our expansion. When run correctly, the clinics provide excellent patient care, conduct compelling marketing campaigns growing the patient base and deliver strong operating metrics. We support Sanjiv’s growth plan and are excited to expand our position and earnings potential with The Joint.”

The Joint leadership agrees. “Chris is a strong operator, and we are delighted to augment our partnership with Joint Ventures. Their large investment demonstrates confidence in our business model,” said Sanjiv Razdan, The Joint Corp.’s President, CEO and Director. “This significant validation is compounded by additional franchisees’ interest in our entire corporate portfolio.

“As a chiropractor and existing franchisee, Dr. Clint Morrow has proven results in the Kansas City region as well as years earlier as a clinic director with The Joint in Arizona. He has a passion for chiropractic, and we are confident in his expansion and leadership in this region,” continued Razdan.

“We are executing our plan to become the best and largest pure play chiropractic care franchise system. As part of this strategy, we will deploy capital from the sales of corporate clinics to improve our profitability. The Northwest region represents 8.5% of clinics under RD management and acquiring their rights will reduce our RD commissions obligation and increase our operating margin.”

For more information, visit ir.thejoint.com.

About The Joint Chiropractic

The Joint Corp. (NASDAQ: JYNT) revolutionized access to chiropractic care when it introduced 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 is making quality care convenient and affordable, while eliminating the need for insurance, for millions of patients seeking pain relief and ongoing wellness. Headquartered in Scottsdale, Arizona, with over 950 locations nationwide and more than 14 million patient visits annually, The Joint Chiropractic is a key leader in the chiropractic industry. The brand is consistently named to Franchise Times’ annual “Top 400” and “Fast & Serious” list of 40 smartest growing brands. Entrepreneur named The Joint “No. 1 in Chiropractic Services,” and is regularly ranked on the publication’s “Franchise 500,” the “Fastest-Growing Franchises,” the “Best of the Best” lists, as well as its “Top Franchise for Veterans” and “Top Brands for Multi-Unit Owners.” SUCCESS named the company as one of the “Top 50 Franchises” in 2024. The Joint Chiropractic is an innovative force, where healthcare meets retail. For more information, visit thejoint.com. To learn about franchise opportunities, visit thejointfranchise.com.