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The Joint Corp. (NASDAQ: JYNT) is a pioneering company in the chiropractic care industry, transforming the traditional and often misunderstood concept of routine chiropractic care into an accessible and affordable reality. Founded in 1999 by Dr. Fred Gerretzen, The Joint Corp. has grown into the nation's largest provider of chiropractic care through its extensive network of The Joint Chiropractic® clinics. Headquartered in Scottsdale, Arizona, the company operates over 900 locations across 42 states, serving millions of patients annually.
The company operates through two key segments: Corporate Clinics and Franchise Operations. The Corporate Clinics segment includes company-owned or managed clinics, while the Franchise Operations segment covers franchised clinics. This dual approach allows The Joint Corp. to maintain high standards of care and expand its footprint efficiently.
Our Mission: The Joint Corp. aims to improve the quality of life through routine and affordable chiropractic care, eliminating the need for insurance. Experienced, licensed chiropractors develop personalized treatment plans to relieve pain and provide ongoing preventative care. The company's unique business model emphasizes convenience with no appointments required, no insurance hassles, and extended hours, including evenings and weekends.
Achievements and Recent Developments:
- Expansion: Recently, The Joint Corp. debuted its first location in West Virginia, extending its reach to 42 states. This expansion reflects the company's strategy to grow its presence nationwide through both corporate-owned and franchised clinics.
- Financial Performance: For Q3 2023, The Joint Corp. reported revenue of $29.5 million, a 11.3% increase compared to the same period in 2022. The company continues to execute its strategic plan to refranchise or sell a majority of its company-owned clinics, focusing on high-performing locations to drive profitability.
- Community Engagement: The Joint Chiropractic has partnered with Rachel's Challenge, a nonprofit organization dedicated to preventing school violence, to promote wellness and community well-being.
- Innovative Care: The Joint Chiropractic offers concierge-style services in a retail setting, making chiropractic care accessible to everyone from children to seniors. Special promotions, such as the 'Back Friday' offering during peak seasons, enhance the value provided to patients.
With its retail healthcare business model, The Joint Corp. is consistently recognized on various prestigious lists, including Franchise Times' 'Top 500+ Franchises' and Entrepreneur's 'Franchise 500.' The company's innovative approach continues to revolutionize the chiropractic industry, making quality care both convenient and affordable.
The Joint Corp. (NASDAQ: JYNT) has partnered with Atlanta United, becoming the club's Official Chiropractic Partner. This marks The Joint Chiropractic's first venture into major league sports sponsorship. President and CEO Peter D. Holt emphasized the importance of this partnership in promoting chiropractic care within the community. Atlanta United, a prominent MLS team, is known for its record-breaking achievements and large fanbase. The Joint operates 46 locations in Atlanta, aiming to provide affordable chiropractic care with no insurance required.
The Joint Corp. (NASDAQ: JYNT) reported significant growth in 2021, with a 39% increase in system-wide sales and 29% rise in comp sales compared to 2020. The company performed 10.9 million patient visits and treated 807,000 new patients, marking substantial year-over-year improvements. The total number of clinics grew to 706, with 130 new locations opened during the year, up from 73 in 2020. The company aims to accelerate growth further, targeting 1,000 clinics by the end of 2023.
The Joint Chiropractic has opened a new clinic at Luke Air Force Base in Glendale, Arizona, as part of its agreement with the Army & Air Force Exchange Service. The clinic aims to provide affordable chiropractic care to military personnel and their families, with initial visits priced at just $19. This initiative is complemented by The Joint's Military Appreciation Program, which offers discounts to active and retired military members nationwide. The company operates over 700 clinics and aims to enhance quality of life through accessible, no-hassle chiropractic services.
The Joint Corp. (NASDAQ: JYNT) has opened its 700th clinic in Yorba Linda, California, marking a significant growth milestone. This achievement follows the opening of 87 clinics in the first nine months of 2021, bringing the total to 666 by September 30. The company aims to reach 1,000 clinics by the end of 2023. The Joint was recently ranked number one on Forbes' 2022 America's Best Small Companies list and is known for its convenient chiropractic services without insurance hassles.
The Joint Corp. (NASDAQ: JYNT) has launched its 'Back Friday' promotion running from Nov. 15 to Nov. 30, offering additional chiropractic visits with the purchase of service packages. Customers can receive one extra visit with a 6-visit package, two with a 10-visit package, or four additional visits with a 20-visit package. The aim is to support health during the stress of the holiday season, which can cause physical and mental strain. The Joint Chiropractic emphasizes accessible, no-appointment care, serving over eight million patients annually across more than 650 locations.
The Joint Corp. (NASDAQ: JYNT) reported strong Q3 2021 results, showcasing a 36% revenue growth to $21.0 million compared to Q3 2020. System-wide sales rose by 37% to $93.4 million, with comparable sales increasing by 27%. The company sold 44 franchise licenses and opened 33 clinics, totaling 666 clinics by quarter-end. Positive adjustments were made to 2021 guidance, with expected revenue between $80.0 million and $81.0 million
and Adjusted EBITDA of $13.0 million to $14.0 million, representing 48% growth compared to 2020.
The Joint Corp. (NASDAQ: JYNT) has promoted Jason Greenwood to Chief Marketing Officer, effective immediately. Having joined the company in 2018, Greenwood has been pivotal in transforming marketing strategies that support growth across its franchise and corporate clinics. Under his leadership, The Joint aims to enhance brand awareness and drive towards opening 1,000 clinics by the end of 2023. The company continues to experience rising consumer interest in chiropractic services, indicating a robust demand for affordable healthcare solutions.
The Joint Corp. (NASDAQ: JYNT) will release its third quarter 2021 financial results on November 4, 2021, after market close. CEO Peter D. Holt and CFO Jake Singleton will discuss the results during a conference call at 5:00 p.m. ET the same day. Interested parties can join the call by dialing (765) 507-2604 or (844) 464-3931. A live webcast will also be available on the company's investor relations page. The Joint Chiropractic is a leader in chiropractic care with over 600 locations and 8 million patient visits annually.
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