Jack Nathan Health Mexico to Open its First Flagship Medical Center in Mexico

Rhea-AI Summary

Jack Nathan Health Mexico opens its first medical center in Mexico City, offering a wide range of healthcare services. The center is strategically located in a busy area and aims to revolutionize the healthcare industry in Mexico. The company has also granted 265,000 stock options to employees, contributing to its expansion efforts.

Positive

• Jack Nathan Health Mexico opens first medical center in Mexico City, revolutionizing healthcare industry
• Strategically located in a busy area, making healthcare easily accessible
• Company grants 265,000 stock options to employees

Negative

• None.

• This space will operate under the Walmart Health brand and represents the first one with this business model in the region for both companies.

MEXICO CITY--(BUSINESS WIRE)-- Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (“Jack Nathan Health”, “JNH” or the “Company”) is pleased to announce that its Mexican subsidiary, Jack Nathan Health Mexico, started operations of its first medical center in Mexico city, Mexico. This state-of-the-art facility will provide a wide range of comprehensive healthcare services, including: general medicine, internal medicine, pediatrics, laboratory services, nutrition counseling, psychology, ultrasound, dental care, and soon, X-ray services.

The opening of this medical center reinforces the local relationship between Jack Nathan Health and Walmart Mexico that started in 2017, when JNH started operating micro-clinics inside Walmart stores in Mexico, that currently number more than 150 throughout the country.

The new medical center is strategically located in Mexico City, inside Plaza Oriente mall, in one of the busiest areas of the city in Iztapalapa town. This Center will make quality health services easily accessible to residents and surrounding communities and will make possible the Company’s commitment to delivering high-quality healthcare services, which Jack Nathan Health aims to raise the bar and revolutionize the healthcare industry in Mexico.

"Today, we are pleased to announce the opening of this Medical Center, aimed at providing innovative solutions for our patients. This expansion further solidifies our commitment to delivering cutting-edge healthcare services and meeting the evolving needs of the Mexican population”, commented Dr. Glenn Copeland, Chief Executive Officer, and Chief Medical Officer.

The medical center will be staffed with a dedicated team of highly experienced and skilled medical professionals, including board-certified physicians, specialized pediatricians, dentists, nutritionists, psychologists, and technicians. Equipped with the latest medical technology and equipment, the medical center is well-prepared to cater to a wide range of healthcare needs, from routine check-ups to specialized treatments, with special focus on the healthcare needs of the Mexican patients.

“Our team in Mexico has worked tirelessly along with the Walmart team to develop this unique space, incorporating state-of-the-art technology and patient centered attention. We firmly believe that this new center will redefine the way our customers interact with Walmart and with the healthcare environment”, added Laura Camacho, Managing Director for Mexico.

In addition to its extensive range of services, Jack Nathan Health is committed to making healthcare affordable and easily accessible to all. The grand opening of this medical center marks an important milestone in the company's expansion efforts in Mexico. With a proven track record of successfully managing medical centers in Canada, the company is excited to bring its expertise to Mexico and contribute to the advancement of healthcare services in the country.

Corporate Update

Pursuant to the Company’s Omnibus Equity Incentive Plan, the Company has granted a total of 265,000 stock options to employees of the Company, which included 15,000 stock options granted to an officer of the Company. Each of the stock options entitles the holder to purchase one common share of the Company at an exercise price of Cdn $0.065 for a period of 10 years, except the stock options granted to the officer each of which entitles the holder to purchase one common share of the Company at an exercise price of Cdn $0.09 for a period of 7 years. All of the stock options vest 12.5% every three months over 2 years.

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 77 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec and 3 independent locations. In Mexico, the Company has 150 corporate owned and operated clinics in Walmart locations, 4 Clinics inside Walmart Distribution Centres servicing Walmart Associates and our very first Multidisciplinary clinic.

For more information, visit www.jacknathanhealth.com or www.sedarplus.ca.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231003356543/en/

Jack Nathan Medical Corp., Bharat Choudhary, Chief Financial Officer: email - bharat.choudhary@jacknathanhealth.com; phone - 416-637-2240.

Source: Jack Nathan Medical Corp.