Jack Nathan Medical Corp. (CVE:JNH) (OTCQB:JNHMF) said it has completed the acquisition of its 8,172 square foot flagship medical clinic located in Vaughan, Ontario within the Walmart Supercentre at 8300 Highway 27 (Woodbridge).
The company, a provider of primary care medical clinics located in Walmart Supercentres under the Jack Nathan Health brand, noted that the medical centre offers a turnkey, modern clinic without start-up costs and includes all existing equipment and leasehold improvements.
The new clinic is the largest in Jack Nathan Health's Walmart footprint and positions the company to grow it into a premier health services destination in York Region, Ontario. The company said the large format clinic will add allied health practitioners and MediSpa services.
READ: Jack Nathan Medical unveils acquisition of four operational medical clinics located inside Walmart stores in Ontario
The company called the acquisition a significant milestone and the beginning of its mission to fortify itself as a provider of accessible healthcare. It is also an advancement of Jack Nathan Health’s strategic growth initiative in practice management and clinic operations, the company said.
The acquisition of clinics owned by licensed operators within the existing Jack Nathan Health organization will now transform licensing revenue to significantly larger operational revenue, it added.
The company's new clinic, opened in Spring 2019, was designed as a flagship store and a prototype of a more expansive vision of healthcare. With an amplified menu of integrated services available on site, the location offers patients the type of full circle of care and one-stop convenience exemplified by the company. The clinic will be developed and operated under the guidance of Dr Glenn Copeland, Jack Nathan Health’s chief medical officer.
In a statement, Copeland commented: “Jack Nathan Health is continuing to create benefits for practitioners and patients alike with this acquisition. As we grow our operations inside the Walmart footprint, we’re not only providing a greater range of healthcare for people where our clinics are located, we’re creating opportunities to access preventative services, vital in maintaining good health.”
George Barakat, chief executive officer of Jack Nathan Health added: “The acquisition of this location, and how we position and develop it further to provide a diversity of accessible healthcare services is a tremendous growth opportunity. This location is a jewel of sorts within our portfolio of medical clinics, designed to put patients first and act as a template for a top tier medical experience and model for future growth. It is this singular focus on providing patients with a full circle of care that continues to drive us.
"This is also another medical acquisition that helps us further grow and transition from licensing to operational revenue as part of our strategic initiative in practice management and clinic operations.”
Like all of Jack Nathan Health’s locations across Canada, both telemedicine and virtual consultations are available as are a range of other services including (not limited to):
- Family Medicine
- Walk-In Option
- Same Day Referrals
- On-site blood laboratory
- Physiotherapy
- Chiropractic services
- Massage Therapy
- Kinesiology and Athletic Therapy Services
- Imaging lab on site
Same-day referrals reduce wait times and expedites healthcare, access to ample parking, on-site pharmacy, grocery, and other retail, as well as a paddle-paging system that lets patients wait in a virtual queue all help patients save time, helping them live their best lives.
Jack Nathan Medical Corp., operating as Jack Nathan Health, is one of Canada’s largest health care networks. It 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. It 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 11 locations in Mexico.
Contact the author at jon.hopkins@proactiveinvestors.com