The Joint Corp., the US’s largest franchisor of chiropractic care through The Joint Chiropractic® network, signed an asset purchase agreement (APA) for the sale of 22 corporate-owned or managed clinics for $1.5 million to three buying groups.
In mid-December, the buyers will assume business operations via management service agreements until the lease reassignments are completed to permit ownership transfer. The company has delivered a notice to terminate the APA for the 45 clinics in Southern California signed on November 2.
Summary of APA
- Nine clinics – seven in Virginia, one in North Carolina, and one in South Carolina – are to be purchased by an existing franchisee and regional developer, who has more than 13 years at The Joint and currently owns eight other clinics in North Carolina.
- Ten clinics in North Carolina are to be purchased by a DC who has worked within the system for almost 10 years, and his business partner, a former corporate employee with more than three years of operations experience in our system.
- Three clinics – two in Georgia and one in South Carolina – are to be purchased by a team of two DCs, who are also seasoned operators and franchisees at The Joint
“There is no greater validation than existing franchise community members expanding their portfolio and presence with The Joint. It demonstrates their belief in our business model and our strategic initiatives to strengthen our core, reignite growth and improve both clinic and company level profitability,” said Sanjiv Razdan, President and CEO of The Joint Corp. “In the Southeast, we are proud to have doctors of chiropractic and franchisees alike increase their ownership. We look forward to seeing the performance of these clinics thrive in the hands of experienced operators as we build the next chapter of our growth collectively.”
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 and 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 it is regularly ranked on the publication’s “Franchise 500,” the “Fastest-Growing Franchises,” and the “Best of the Best” lists, as well as its “Top Franchise for Veterans” and “Top Brands for Multi-Unit Owners” lists. 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.
