Jack Nathan Health Acquires Five Medical Clinics in British Columbia
Accretive acquisition adds over
- Annualized revenue estimated to be over
- All five locations are profitable and should significantly improve JNH’s top- and bottom-line results
- Combined total of approximately ~7,900 ft2 of medical clinic operations.
The transaction is the Company’s largest accretive acquisition to date and is part of JNH’s growth strategy to convert its licensed clinics into corporate-owned medical centers, which will substantially increase JNH’s revenue potential, in addition to JNH’s ongoing expansion across
The five medical clinics acquired are fully operational and have a wide network of medical professionals serving a population estimated at over 4.8 million and growing1.
As announced in
The consideration for the acquisition is comprised of an initial cash payment of
Pursuant to the Company’s Equity Incentive Plan, the Company as issued a total of 502,506 Deferred Share Units (“DSUs”) to the Company’s three independent directors for their services for 9 months ended of
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
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.
Source: JACK NATHAN HEALTH