The Joint Corp. announced the completion of the acquisition of 31 corporate-owned and managed clinics in Arizona and New Mexico by Joint Ventures, LLC. The transaction was finalized for a cash consideration of $8.3 million.
This divestiture represents a significant milestone in The Joint Corp.'s strategic pivot towards becoming a pure-play franchisor. The company's goal is to reduce the operational complexities and overhead associated with directly managing clinics.
The capital generated from this sale is intended to be reinvested into core growth initiatives, including brand enhancement, IT platform investments, and potentially repurchasing regional development territories. This move is expected to improve the company's profitability profile and operating leverage.
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