TORONTO--(BUSINESS WIRE)--Jack Nathan Medical
Corp. (TSXV: JNH) ("Jack Nathan Health" or the "Company"), a provider of primary care medical
clinics located in Walmart® Supercentres under the Jack Nathan Health® brand, today
announced that its shares have commenced trading on the TSX-Venture Exchange. The Company also provided an
operational and corporate update.
“Jack Nathan Health’s goal is to help patients access high-quality primary care in the
communities where they live and work”
“Jack Nathan Health’s goal is to help patients access high-quality primary care in the communities where they
live and work,” said Mike Marchelletta, President of Jack Nathan Health. With our listing on the TSX Venture
Exchange, we are now well positioned to embark on our next phase of growth.”
George Barakat, CEO of Jack Nathan Health, added, “By focusing on expanding ancillary and specialist medical
services and digital offerings, Jack Nathan Health believes there are multiple opportunities to grow the
business both in Canada and internationally, by leveraging our growing physical clinic footprint conveniently
located within Walmart Stores.”
Jack Nathan Health’s strategy to improve patient outcomes and grow the business is based on:
- Opening new clinics, with a near-term focus on the Canadian and Mexican markets;
- Longer-term focus on international expansion;
- Expanding and operating additional ancillary and specialist medical services; and
- Supplementing more than 80 “bricks and mortar” locations with digital and telemedicine initiatives designed
to further improve patient engagement and care, while supporting additional revenue streams.
New Clinic Openings
Jack Nathan Health recently opened a new multi-disciplinary medical centre in Kelowna, BC and expects to open a
second one in Thornhill, ON this month. Multi-disciplinary medical centres are designed to offer a broader range
of allied health services affording patients “one-stop” convenience and a more wholistic approach to their
overall care. These larger new format clinics are intended to offer a broader range of services such as:
physiotherapy, chiropractic, foot care, weight loss, dietician, diagnostic and lab services, all under one roof.
With these openings, the Company will have 76 clinics in six Canadian provinces, including British Colombia,
Alberta, Saskatchewan, Manitoba, Ontario, and Quebec.
Medium and larger-sized clinics are expected to comprise a growing proportion of Canadian clinic openings in the
future. The Company has the option to bring additional fee-paying practitioners into these larger clinics or
offer corporately-owned allied health services, driving increased revenue contribution per square foot and
higher margins versus baseline practitioner license fees alone.
Expanded Digital Health Offerings
In March of 2020, the Company, in response to the Coronavirus pandemic, moved up the roll-out of its in-clinic
telemedicine services. This offered patients the flexibility to access care in a manner that best suited their
specific needs through the early days of the pandemic, complementing all the Jack Nathan Health Medical Centres.
In May 2020, Jack Nathan Health announced a partnership with Canada Health Infoway to help implement
PrescribeIT® - a digital prescribing platform. This e-prescribing service allows doctors and other
prescribing medical professionals within the Jack Nathan Health Medical Centres to electronically transmit a
prescription directly to the patient’s pharmacy of choice. The PrescribeIT platform provides safer and more
efficient medication management while, eliminating the need for paper or faxed prescriptions.
Digital and telemedicine services are ultimately expected to support increased levels of patient-practitioner
engagement, drive additional traffic to “bricks and mortar” locations, and ultimately translate into improved
outcomes for the patient.
Investor Relations Service Agreement
The Company has entered into an investor relations services agreement (the "Services Agreement") with LodeRock
Advisors Inc. ("LodeRock”) pursuant to which LodeRock will provide Jack Nathan Medical Corp. with strategic
investor relations and capital markets communications services. Pursuant to the terms of the Services Agreement,
Jack Nathan will pay LodeRock a monthly retainer fee of $10,000 for the first three months of the engagement and
$8,000 a month thereafter. In addition, the Company has granted LodeRock 50,000 incentive stock options at a
strike price of $0.50 per share, vesting over 2 years. The Services Agreement can be terminated on thirty (30)
days written notice. At the time of this agreement, neither LodeRock nor its principals have any direct or
indirect interest in Jack Nathan securities.
LodeRock is a Toronto-based group of senior capital markets communications executives who develop and execute
communications programs that help companies achieve their capital markets objectives and capture the full
potential of their public listing. The engagement of LodeRock remains subject to the approval of the TSX Venture
Exchange.
Grant of Options
Jack Nathan has granted an aggregate of 2,350,000 stock options (each an "Option") to directors
and officers of the Company in accordance with the Company's current stock option plan. Each Option is
exercisable into one common share (a "Share") of the Company at a price of $0.50 per Share.
Options vest over a 2-year period and expire 7 years from the date of the grant.
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 76 Walmart locations across Canada including British
Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec, as well as six locations in Mexico.
For more information, visit www.jacknathanhealth.com or www.sedar.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is 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 Covid19 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.