Jack Nathan Medical Corp. has 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 company said its board selected Dr Copeland based on his expertise, relationships, and vision, and as the company continues to grow and scale.
In a statement, Dr Copeland commented: “I am honored to take on this role and do with great excitement. What initially attracted me to Jack Nathan Health (TSX-V:JNH, OTCQB:JNHMF) 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."
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He added: "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.”
The company noted that 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 said: “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, the company's vice chairman added: “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 his appointment, the company said Dr Copeland has relinquished his 20% minority interest in its subsidiary, Jack Nathan Functional Health. It added that Dr. Copeland has also 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.
Jack Nathan Medical Corp., operating as Jack Nathan Health, is one of Canada’s largest health care networks that is improving access for millions of patients by co-locating physician and ancillary medical services conveniently located inside Walmart stores.
Established in 2006, Jack Nathan Health 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.
Contact the author at jon.hopkins@proactiveinvestors.com