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Jack Nathan Health Appoints Michael A. Pangia, Experienced Operating Executive as Strategic Advisor

June, 24, 2021

TORONTO--(BUSINESS WIRE)-- Jack Nathan Medical Corp. (TSXV: JNH) (OTCQB: JNHMF) (“Jack Nathan Health” “JNH” or the “Company”) announced today that Michael A. Pangia, a seasoned industry veteran with over 25 years of executive leadership experience in the financial and technology sector, has been retained by the Company to serve as a strategic advisor.

In this role, Mr. Pangia will provide executive oversight on various strategic initiatives while working closely with Mike Marchelletta, Co-Founder and Interim Chief Executive Officer, and the Jack Nathan Health leadership team. His primary focus will be to support the Company as it continues to expand its business. Given Jack Nathan Health’s anticipated growth, Mr. Pangia will also leverage his global capital markets experience to help establish new relationships that will provide the Company with more financial flexibility as it enters the next phase of its growth plans.

Mr. Pangia previously served as President and Chief Executive Officer at Aviat Networks (NASDAQ: AVNW), one of the world’s leading providers of wireless transmission solutions and has held various executive leadership roles spanning sales, finance, services, and operations, while also serving as a key member of the Nortel Networks leadership team. Most recently and since his tenure at Aviat Networks, he has served as an associate with the Creative Destruction Lab, a seed-stage program for scalable science and technology-based companies, mentoring leadership teams in the areas of artificial intelligence, cybersecurity, autonomous mobility, and life sciences. Additionally, he recently was appointed President and Chief Operating Officer of Westmount Park Investments.

Throughout 2021, Jack Nathan Health has expanded its reach throughout Canada and Mexico, with more clinic openings expected in the coming year. The Company has acquired additional medical centres and MedSpas in addition to new Walmart clinic expansions, all with a larger footprint and storefront presence. New strategic initiatives are being pursued which could further expedite the Company’s growth and earnings potential. While the global pandemic presents a near-term challenge, Jack Nathan Health’s rapid growth led to the Board engaging Mr. Pangia to assist the Company with its aggressive expansion plans.

Neil J. Labatte, Chairman of the Board of Directors commented, “We are excited to bring Michael onboard as an advisor as he brings a wealth of global executive experience in a public market setting. He has a proven track record, and a vast capital markets network that can be leveraged as we continue to focus on value creation for all stakeholders. I am confident that he and Mike will collaborate to turn our vision into a reality and enhance shareholder value.”

Mr. Pangia stated, “I look forward to working with Mike, the JNH leadership team, and the Board, providing support and guidance as they execute their strategic plan. I believe the Company has tremendous potential to be the leading player in the markets served, while continuing to expand its footprint and services. This is an inflection point for the Company and I will do all that I can to deliver value to the JNH team and its shareholders.”

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 76 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec, and is contracted to open 3 more new clinics in 2021/22. In Mexico, the Company has 52 owned and operated clinics in Walmart locations and is contracted to open 151 more new clinics in 2021/22. 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

 

Source: Jack Nathan Medical Corp.

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