News Details

TORONTO--(BUSINESS WIRE)-- Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (“Jack Nathan Health” “JNH” or the “Company”), a provider of primary care medical clinics located in Walmart® Supercentres under the Jack Nathan Health® brand, announced the acquisition of its 8172 sq. ft flagship medical clinic located in Vaughan, Ontario within the Walmart Supercentre at 8300 Highway 27 (Woodbridge).

Financial Highlights:

• Offers a turnkey, modern clinic for JNH without the startup costs and includes all existing equipment and leasehold improvements.
• $500,000 in medical revenues in the first 20 months⁽¹⁾ of operations with significant revenue growth and earnings potential moving forward.
• Large format clinic will add allied health practitioners and MediSpa services.

The new clinic is the largest in the JNH Walmart footprint and now positions the Company to grow this multi service clinic into a premier health services destination in York Region, Ontario.

This acquisition is a significant milestone and the beginning of the Company’s mission to fortify itself as a provider of accessible healthcare. It is also an advancement of Jack Nathan Health’s strategic growth initiative in practice management and clinic operations. The acquisition of clinics owned by licensed operators within the existing JNH organization will now transform licensing revenue to significantly larger operational revenue.

The clinic, opened in Spring 2019, designed as a flagship store and a prototype of a more expansive vision of healthcare. With an amplified menu of integrated services available on site, this location offers patients the type of full circle of care and one-stop convenience exemplified by Jack Nathan Health. The clinic will be developed and operated under the guidance of Dr. Glenn Copeland, Jack Nathan Health’s Chief Medical Officer.

“The acquisition of this location, and how we position and develop it further to provide a diversity of accessible healthcare services is a tremendous growth opportunity. This location is a jewel of sorts within our portfolio of medical clinics, designed to put patients first and act as a template for a top tier medical experience and model for future growth. It is this singular focus on providing patients with a full circle of care that continues to drive us,” said George Barakat, Chief Executive Officer of Jack Nathan Health. “This is also another medical acquisition that helps us further grow and transition from licensing to operational revenue as part of our strategic initiative in practice management and clinic operations.”

“Jack Nathan Health is continuing to create benefits for practitioners and patients alike with this acquisition,” said Dr. Glenn Copeland, Chief Medical Officer of Jack Nathan Health. “As we grow our operations inside the Walmart footprint, we’re not only providing a greater range of healthcare for people where our clinics are located, we’re creating opportunities to access preventative services, vital in maintaining good health.”

Like all of Jack Nathan Health’s 76 locations across Canada, both telemedicine and virtual consultations are available as are a range of other services including (not limited to):

• Family Medicine
• Walk-In Option
• Same Day Referrals
• On-site blood laboratory
• Physiotherapy
• Chiropractic services
• Massage Therapy
• Kinesiology and Athletic Therapy Services
• Imaging lab on site

Same day referrals reduce wait times and expedites healthcare, access to ample parking, on-site pharmacy, grocery, and other retail, as well as a paddle-paging system that lets patients wait in a virtual queue all help patients save time, helping them 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 11 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210322005209/en/

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

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

Source: Jack Nathan Medical Corp.