TORONTO--(BUSINESS WIRE)--Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHFM) (“Jack Nathan Health”, “JNH” or the “Company”), a provider of primary care medical clinics located in Walmart® Supercentres under the Jack Nathan Health® brand in Canada and Mexico, today announced the appointment of Dr. Glenn Copeland as its new Chief Executive Officer (“CEO”), effective immediately. In addition to his role as CEO, Dr. Copeland will continue to serve as the Company’s Chief Medical Officer.
In May 2021, the Company named Co-founder, Michael Marchelletta as its interim CEO and undertook an extensive search process to fill this role on a permanent basis. After evaluating several candidates, the Board selected Dr. Copeland based on his expertise, relationships, and vision, and as the Company continues to grow and scale.
“I am honored to take on this role and do with great excitement,” stated Dr. Copeland. “What initially attracted me to Jack Nathan Health was their vision for creating a new standard in healthcare and the platform they had amassed. My assessment has proven to be true as JNH has grown its footprint, added new medical and wellness services, and is well positioned for rapid expansion in the coming years. Everyone shares the same passion that I do and together, we will build the leading health care destination throughout Canada and Mexico, providing critical-care solutions to patients in need. That is what drives us and with our growing network of medical practitioners, and the ongoing commitment from Walmart to deliver the best customer experience, I am confident we will be successful.”
Dr. Copeland brings to Jack Nathan Health over 45-years of medical, business and capital markets experience. He is the former founder, Chairman and CEO of Cleveland Clinic Canada; the founder and former CEO of Feet First; and the former founder and CEO of Footmaxx International and Lifescreening Cancer and Prevention Centres. He has been a Consulting Orthopedic Podiatrist with the Toronto Blue Jays since 1980, the Medical Director for Ottawa Sports and Entertainment Group, and a foot and ankle Consultant for the Atlanta Braves. Additionally, in 2008, he established the Rehab and Wellbeing Centre and Sports Medicine Centre at Mount Sinai Hospital in Toronto. He has built clinics and medical networks from the ground-up and successfully scaled roughly 2,000 clinics globally throughout his career.
Neil Labatte, Chairman of Jack Nathan Health added, “We went through an extensive search process and it was clear to us all, that Dr. Copeland is the right person to lead Jack Nathan as we enter a significant growth cycle in the years ahead. He has successfully built and run multi-disciplinary medical operations throughout his career and has a vast network across multiple medical service areas. He is well-respected within the medical community and throughout our partner network and we have full confidence in his ability to help us grow, scale quickly and become a dominant player in the markets we serve.”
Michael Marchelletta, Vice Chairman of the Board of Directors concluded, “Since Dr. Copeland joined us in December of last year, we have witnessed a major transformation and our business opportunities have expanded as a result. He brings extensive business and operational experience, combined with hands-on excellence in orthopedic treatment, sports medicine and overall medical treatments. He has excelled since becoming part of our team and both I, and the Board of Directors, could not think of a better candidate to lead our organization for years to come.”
Concurrent with the appointment of Dr. Copeland, he has relinquished his 20% minority interest in the Company’s subsidiary, Jack Nathan Functional Health. Pursuant to the appointment of Dr. Copeland, he has been granted 2 million share purchase options at an exercise price of $0.38 vesting over 3 years, and 3 million RSU’s with vesting tied to retention and performance achievements over the next 4 years.
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 geographic 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 83 corporate-owned and operated locations in Mexico, in addition to servicing certain Walmart Distribution Centres.
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.
