TORONTO--(BUSINESS WIRE)--Jack Nathan Medical Corp. (TSXV:JNH) (“Jack Nathan Health” “JNH” or the “Company”) announced today that 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® brand, has signed an addendum to its ongoing Master Service Agreement (“MSA”), which now specifies and directs Jack Nathan to construct 50 new locations throughout the country. This plan for rapid expansion begins immediately with the first 8 locations scheduled to open by the end of December 2020.
The clinics provide much needed healthcare services in Mexican communities where many chronic diseases go undiagnosed and untreated due to a shortage of affordable options for quality healthcare services. Jack Nathan Health clinics are now sending out home COVID-19 tests authorized by the Mexican Health Authority to patients nationally. The costs of these tests are prepaid and include a telemedicine appointment with one of Jack Nathan Health’s physicians. Jack Nathan Health’s facilities will swiftly and dramatically increase access to professional and convenient care in the communities where they operate.
“We are pleased to now begin a phase of significant growth in Mexico within Walmart. Preventative healthcare has always been a necessity in Mexico and taking a holistic approach to health comes with many benefits,” said Laura Camacho, Country Manager of Jack Nathan Health Mexico. “The new clinics, coupled with our existing telemedicine offering, bring innovative solutions and a better overall health experience throughout the country.”
With the addition of 50 new clinics, Jack Nathan Health will have 56 total clinics in Mexico, all corporately owned and operated. Rapid expansion in Walmart Mexico is fueled by modular, cost-effective construction, that only takes days and requires no capital expenditure from Jack Nathan Health, resulting in immediate revenue growth and a short timeframe to achieve accretive clinic operations.
This is also an important step toward fulfilling on Jack Nathan Health’s vision to be one of the leading integrated primary healthcare provider in the world, as well as generating better health outcomes for citizens globally. Jack Nathan Health is well positioned in Canada and now Mexico to assist in the distribution and immunization of potential COVID-19 vaccines.
“Applying our Jack Nathan healthcare expertise to communities that are in need is a truly gratifying moment in our Company’s history,” said George Barakat CEO & Co-Founder of Jack Nathan Health. “We’ve flipped the healthcare model by creating a patient-first experience. Now, with accelerated growth in Mexico, in a manner that reduces upfront costs and the administrative burden on doctors, Jack Nathan Health clinics clearly demonstrate the value of our offering. More importantly, families in these communities will now have access to a more consistent, quality, and affordable healthcare experience. It gives the citizens of Mexico the opportunity to begin their Circle of Health Care™ journeys. These new clinics, with telemedicine support, will be an integral part of our next phase of expansion with Walmart Mexico.”
Jack Nathan Health clinics in Mexico, are enhanced with our new telemedicine platform which increases access for patients throughout the country. Adding 50 new clinics significantly improves digital access to Jack Nathan Health Mexico locations with a growing group of medical professionals in our network.
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 six locations in Mexico.
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 Covid19 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.
