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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 $29.5 million, a 11.3% increase compared to the same period in 2022. The company continues to execute its strategic plan to refranchise or sell a majority of its company-owned clinics, focusing on high-performing locations to drive profitability.
- Community Engagement: The Joint Chiropractic has partnered with Rachel's Challenge, a nonprofit organization dedicated to preventing school violence, to promote wellness and community well-being.
- Innovative Care: The Joint Chiropractic offers concierge-style services in a retail setting, making chiropractic care accessible to everyone from children to seniors. Special promotions, such as the 'Back Friday' offering during peak seasons, enhance the value provided to patients.
With its retail healthcare business model, The Joint Corp. is consistently recognized on various prestigious lists, including Franchise Times' 'Top 500+ Franchises' and Entrepreneur's 'Franchise 500.' The company's innovative approach continues to revolutionize the chiropractic industry, making quality care both convenient and affordable.
The Joint Corp. (NASDAQ: JYNT), recognized for its excellence in franchise financing, was awarded the TOP$CORE FUND Award at the Multi-Unit Franchising Conference held in Las Vegas. This accolade highlights The Joint Chiropractic's commitment to supporting franchisees' access to financing, demonstrating a strong performance in unit economics and franchisee relationships. Darrell Johnson, CEO of FRANdata, acknowledged the brand's transparency and lender support, emphasizing its historical success rate despite pandemic challenges. With over 600 locations, The Joint Chiropractic continues to innovate in providing accessible, affordable care.
The Joint Corp. (NASDAQ: JYNT) emphasizes the importance of spine health as children return to school. In a recent statement, the company highlights that long hours at desks and heavy backpacks can lead to posture issues and tech neck. Children are encouraged to maintain proper posture and engage in daily activities to prevent strain. The American Chiropractic Association offers tips for selecting the right backpack, including ensuring it does not exceed 10-15% of a child's body weight. The Joint Chiropractic provides accessible chiropractic care across its network.
The Joint Corp. (NASDAQ: JYNT) has been named the official chiropractor of Austin Peay Athletics, enhancing its visibility in the sports sector. This partnership demonstrates The Joint's commitment to chiropractic care and its benefits in improving athletic performance and injury prevention. The agreement was announced on August 9, 2021, by company president Peter D. Holt. With over 600 locations nationwide and significant annual patient visits, The Joint is a leader in chiropractic services, promoting affordable, convenient access to care without insurance hassles.
The Joint Corp. reported significant growth in Q2 2021, with revenues increasing 61% to $20.2 million compared to Q2 2020. System-wide sales rose 64% to $87.8 million, and system-wide comp sales grew 53%. Operating income reached $2.0 million, up 687%, while Adjusted EBITDA climbed 237% to $3.8 million. The company sold 63 franchise licenses and opened 36 new clinics, boosting total clinics to 633. Due to strong performance, the company raised its 2021 revenue guidance to between $77.0 million and $79.0 million.
The Joint Corp. (NASDAQ: JYNT) has become an official chiropractic partner of Vanderbilt Athletics as of August 3, 2021. This partnership emphasizes the role of chiropractic care in enhancing athletic performance, with evidence suggesting a 6.12% increase in performance and a 30% boost in eye-hand coordination post-treatment. The Joint Chiropractic operates 12 clinics in Nashville, providing no-appointment, affordable care. With over 600 locations nationwide and more than 8 million patient visits annually, The Joint is a leader in the chiropractic industry.
The Joint Corp. (NASDAQ: JYNT), the leading provider of chiropractic care in the U.S., has partnered with the Army & Air Force Exchange Service to provide chiropractic services on military bases. Initial sites include Luke AFB in Arizona, MacDill AFB in Florida, and Joint Base McGuire-Dix-Lakehurst in New Jersey. A recent trial showed chiropractic adjustments improved strength by 5% and endurance by 14% among military personnel. The Exchange serves 33 million military members and families, enhancing healthcare access for this demographic.
The Joint Corp. (NASDAQ: JYNT), the largest operator and franchisor of chiropractic clinics in the U.S., will report its Q2 2021 financial results on August 5, 2021, after market close. The conference call featuring President and CEO Peter D. Holt and CFO Jake Singleton will start at 5:00 p.m. ET. Interested parties can join the call by dialing 765-507-2604 or 844-464-3931 with code 5959205. The event will be webcasted live and the presentation slides will be available on their Investor Relations page.
The company has over 600 locations and facilitates more than 8 million patient visits annually.
The Joint Corp. (NASDAQ: JYNT) has opened its first chiropractic clinic in Michigan, located in Ann Arbor. This expansion into Michigan marks a significant milestone as it extends their retail footprint to 35 states. The clinic offers a unique, no-appointments, and no-insurance hassle model of chiropractic care, catering to the increasing consumer demand for affordable services. The Joint Corp. operates over 600 locations nationwide, facilitating more than eight million patient visits annually, reinforcing its position as a leader in the chiropractic industry.
The Joint Corp. (NASDAQ: JYNT) has opened a new corporate chiropractic clinic in Virginia Beach, VA, marking the first of six planned openings in the region for 2021. As part of their strategy, The Joint aims to open 20 to 30 corporate clinics this year, primarily through new greenfield locations and some franchise acquisitions. This expansion strategy will enhance their presence in the Southeast, aligning with their goal of reaching 1,000 clinics by the end of 2023. The company continues to evolve its retail healthcare model, reducing the need for insurance.
The Joint Corp. (NASDAQ: JYNT) has appointed Mark Miller as Vice President of Real Estate & Construction, effective June 3, 2021. Miller brings over 30 years of experience in strategic store expansion, having previously worked with Veggie Grill and Panda Restaurant Group. He will oversee real estate development, including market analysis and site acquisition. CEO Peter Holt expressed confidence that Miller's leadership will help achieve the company's goal of 1,000 clinics by 2023, enhancing access to affordable chiropractic care across the U.S.
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