Jack Nathan Health Announces Change in Senior Management
Jack Nathan Medical Corp. (JNHMF) has announced significant changes in its leadership. CEO George Barakat has been terminated, although he remains a director. Neil J. Labatte has been appointed as Chairman, while Mike Marchelletta takes on the role of Interim CEO. The company initiated a search for a permanent CEO. Established in 2006, Jack Nathan Health operates as a major healthcare network in Canada, providing services within Walmart locations, with plans for further expansion.
- Appointment of Mike Marchelletta as Interim CEO may ensure continuity in leadership.
- Jack Nathan Health continues to expand with new clinics planned in both Canada and Mexico.
- Termination of CEO could indicate internal instability or strategic misalignment.
Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) ("Jack Nathan Health" or the "Company") announces that following a strategic review of the Company, the Board of Directors of the Company (the "Board") has terminated the employment of Mr. George Barakat as Chief Executive Officer of the Company and its subsidiaries. Mr. Barakat will continue to serve as a director of the Company. Mr. Neil J. Labatte has been appointed as Chairman of the Board of Directors. Mike Marchelletta, Co-founder and President will assume the role of Interim Chief Executive Officer, effective immediately. The Company is commencing a search process to identify a suitable successor to fill the role of Chief Executive Officer on a permanent basis.
About Jack Nathan Medical Corp.
Jack Nathan Medical Corp., operating as Jack Nathan Health®, is one of Canada’s largest healthcare networks. Jack Nathan Health® is an innovative healthcare company that is improving access for millions of patients by co-locating physician and ancillary medical services conveniently located inside Walmart® stores.
Jack Nathan Health® provides an exceptional level of patient care, made possible through patient-centric physicians, a variety of medical services, technology, and programs, designed to put patients first. Our mission is to provide everyone access to the finest quality retail medical centres, with both in-clinic physicians and digital telemedicine, so you and your loved ones can “Live Your Best Life”.
Jack Nathan Health® was established in 2006 and continues to expand its international footprint, delivering exceptional, state-of-the-art, turn-key medical centres. In Canada, the Company has 76 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec, and is contracted to open 3 more new clinics in 2021/22. In Mexico, the Company has 18 clinics in Walmart locations and is contracted to open 185 more new clinics in 2021/22. For more information, visit www.jacknathanhealth.com or www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Jack Nathan are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to them, and are subject to certain risks, uncertainties, and assumptions Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative and other judicial, regulatory, political and competitive developments; the economic and business impact of COVID-19 and operational difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
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FAQ
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