Highlights:
- 153 new clinics to bring total commitment to 203 clinics,
including 18 existing clinics.
- All locations to offer both in-person and telemedicine
access with national telemedicine contract onboarding through
walmart.com.mx, Superama and Bodega.
- Includes all Walmart brands: Walmart Supercenter, Superama,
Walmart Express, Bodega Aurrera, and Mi Bodega Aurrera.
Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF)
(“Jack Nathan Health” “JNH” or the “Company”), announced its
subsidiary JNH Medico Mexico S.A. DE C.V, a provider of primary
care medical clinics located in Walmart Supercentres ® and other
Walmart Mexico formats under the Jack Nathan Health ® brands, has
signed an addendum to its ongoing Master Service Agreement (“MSA”)
which now gives Jack Nathan Health an additional 153 new locations
for medical clinic expansion, throughout the country, bringing the
Company’s total number of future clinics there to 203, all
corporately owned and operated.
This planned rapid expansion represents the most significant
growth expansion in the Company’s history and positions it to have
a significant presence as a provider of accessible healthcare
services in Mexico. The planning and opening of new clinics will
begin immediately and build on the company’s 18 existing
clinics.
Jack Nathan Health provides a wide range of health care services
at its Mexican locations, all located within Walmart stores that
also provide access to ample parking, on-site pharmacy, grocery,
and retail. Clinics provide communities with increased access to
consistent, quality, affordable healthcare, including primary and
family healthcare. The new JNH clinics in Mexico will reach a wide
range of population and will provide access to quality healthcare
for people living in rural areas, tourist destinations, small, mid,
and large sized cities. This expansion will be the first step
towards the creation of a new ecosystem in Mexico based on a
patient centered model.
“This landmark expansion is a giant leap forward to
revolutionizing health care in Mexico. It is tremendous news for
both citizens and visitors to Mexico. Jack Nathan Health, in
partnership with Walmart, is now positioning itself to become the
largest physician serviced health care network in Mexico. Walmart
Mexico services communities in which we operate. The addition of a
country wide Telemedicine operation onboarding to all Walmart
Mexico online brands, further extends our reach by providing
convenience and care to underserviced communities, aging
demographics and taking care of loved ones. All by providing
instant access. Providing expanded access to quality healthcare
services is critical to preventative health and wellness,” said
Chairman and Chief Executive Officer George Barakat. “This
expansion more than 10 folds our footprint both physically and
digitally within a vast region where there is incredible demand,
amidst significant shortages for quality healthcare. This surging
demand, coupled with our ability to quickly open new clinics, is
expected to result in sustainable revenue and a noticeably short
time to achieve accretive clinic operations. We are proud to move
this initiative forward as it positively impacts the communities it
serves and the physician opportunities it represents. This massive
expansion also represents significant employment opportunities for
citizens in Mexico. At Jack Nathan Health, we believe that we are
going to ‘Revolutionize Health Care’ as we embark on this historic
growth phase.”
“Our state-of-the-art clinics, along with Telemedicine services,
bring significant access and growth to innovative healthcare
solutions,” said Laura Camacho, Country Manager of Jack Nathan
Health Mexico. “Coupled with the convenience of being located
inside Walmart, ample access to parking, and other amenities, this
expansion is fulfilling Jack Nathan Health's mission to provide a
full circle of care that enables people to 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 18 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210506005479/en/
IR: Prit Singh, Thesis Capital psingh@thesiscapital.ca
David Berman, CFO, david.berman@jacknathanhealth.com Media:
Crystal Quast, Bullseye Corporate quast@bullseyecorporate.com
Jack Nathan Medical (TSXV:JNH)
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