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 a 1,394 square foot medical clinic at 1477 Island Highway, in Campbell River, British Columbia.
Once the clinic in Campbell River becomes fully integrated with Jack Nathan Health’s standardized medical care services, it will become the Company’s sixth corporate-owned clinic, resulting in a significant increase in revenue potential. Jack Nathan Health expects to add high-margin additional service offerings at this location in the future, enabling the Company to generate additional streams of income.
“This announcement is another reflection of our ability to execute on our growth strategy and expand our presence into all regions of Canada,” said Mike Marchelletta, Co-founder and Interim Chief Executive Officer of Jack Nathan Health. “Our goal is to continue converting all of our remaining licensed clinics in this country into corporate-owned medical centres for which we will be able to capture topline revenue and provide Canadians with access to standardized, high quality healthcare services.”
The acquisition represents an advancement of Jack Nathan Health’s strategic growth initiative in practice management and clinic operations. In-clinic and virtual consultations are available at this location as are a range of other services including (not limited to) Medical Walk-In Option. As with all Jack Nathan Health clinics located inside Walmart stores, patients visiting this clinic will have access to ample parking, on-site pharmacy, grocery, and other retail services.
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 33 clinics in Walmart locations and is contracted to open 170 more new clinics in 2021/22. For more information, visit www.jacknathanhealth.com or www.sedar.com.
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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.