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Jack Nathan Health Announces 153 Clinic Expansion and National Telemedicine Strategy with Walmart Mexico

May, 06, 2021

Highlights:

  • 153 new clinics to bring total commitment to 203 clinics, including 18 existing clinics.
  • All locations to offer both in-person and telemedicine access with national telemedicine contract onboarding through walmart.com.mx, Superama and Bodega.
  • Includes all Walmart brands: Walmart Supercenter, Superama, Walmart Express, Bodega Aurrera, and Mi Bodega Aurrera.

TORONTO--(BUSINESS WIRE)-- Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (“Jack Nathan Health” “JNH” or the “Company”), announced its subsidiary JNH Medico Mexico S.A. DE C.V, a provider of primary care medical clinics located in Walmart Supercentres ® and other Walmart Mexico formats under the Jack Nathan Health ® brands, has signed an addendum to its ongoing Master Service Agreement (“MSA”) which now gives Jack Nathan Health an additional 153 new locations for medical clinic expansion, throughout the country, bringing the Company’s total number of future clinics there to 203, all corporately owned and operated.

This planned rapid expansion represents the most significant growth expansion in the Company’s history and positions it to have a significant presence as a provider of accessible healthcare services in Mexico. The planning and opening of new clinics will begin immediately and build on the company’s 18 existing clinics.

Jack Nathan Health provides a wide range of health care services at its Mexican locations, all located within Walmart stores that also provide access to ample parking, on-site pharmacy, grocery, and retail. Clinics provide communities with increased access to consistent, quality, affordable healthcare, including primary and family healthcare. The new JNH clinics in Mexico will reach a wide range of population and will provide access to quality healthcare for people living in rural areas, tourist destinations, small, mid, and large sized cities. This expansion will be the first step towards the creation of a new ecosystem in Mexico based on a patient centered model.

“This landmark expansion is a giant leap forward to revolutionizing health care in Mexico. It is tremendous news for both citizens and visitors to Mexico. Jack Nathan Health, in partnership with Walmart, is now positioning itself to become the largest physician serviced health care network in Mexico. Walmart Mexico services communities in which we operate. The addition of a country wide Telemedicine operation onboarding to all Walmart Mexico online brands, further extends our reach by providing convenience and care to underserviced communities, aging demographics and taking care of loved ones. All by providing instant access. Providing expanded access to quality healthcare services is critical to preventative health and wellness,” said Chairman and Chief Executive Officer George Barakat. “This expansion more than 10 folds our footprint both physically and digitally within a vast region where there is incredible demand, amidst significant shortages for quality healthcare. This surging demand, coupled with our ability to quickly open new clinics, is expected to result in sustainable revenue and a noticeably short time to achieve accretive clinic operations. We are proud to move this initiative forward as it positively impacts the communities it serves and the physician opportunities it represents. This massive expansion also represents significant employment opportunities for citizens in Mexico. At Jack Nathan Health, we believe that we are going to ‘Revolutionize Health Care’ as we embark on this historic growth phase.”

“Our state-of-the-art clinics, along with Telemedicine services, bring significant access and growth to innovative healthcare solutions,” said Laura Camacho, Country Manager of Jack Nathan Health Mexico. “Coupled with the convenience of being located inside Walmart, ample access to parking, and other amenities, this expansion is fulfilling Jack Nathan Health's mission to provide a full circle of care that enables people to live their best lives.”

About Jack Nathan Medical Corp.

Jack Nathan Medical Corp., operating as Jack Nathan Health®, is one of Canada’s largest health care networks. Jack Nathan Health is an innovative health care 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 18 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 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.

IR: Prit Singh, Thesis Capital psingh@thesiscapital.ca
David Berman, CFO, david.berman@jacknathanhealth.com

Media: Crystal Quast, Bullseye Corporate quast@bullseyecorporate.com

Source: Jack Nathan Medical Corp.

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