Who Owns the Joint Chiropractic?

The Joint Chiropractic is an American chiropractors’ network based in Scottsdale, Arizona. The company was founded in 1999 by Craig P. Colmar, a Doctor of Chiropractic. Colmar’s vision was to transform the traditional concept of routine chiropractic care by making it affordable, convenient, and friendly.

It caters to families, military service members, and other US consumers. As of Apr 2024, the Joint had over 900 locations nationwide. Its chiropractic clinics attract over 13 million patient visits annually. [1]

The Joint Chiropractic is a leader in the US chiropractic industry. The network has franchises in over 20 states, from Arkansas to California, Colorado, Florida, Illinois, Kansas, Kentucky, Maryland, Michigan, New Jersey, NY, Oregon, Pennsylvania, Tennessee, Washington, West Virginia and Wyoming.

In Oct 2023, Joint Chiropractic ranked #168 on the Franchise Times Top 400 list of the largest US-based franchise systems by global systemwide sales. The network moved up 30 spots from #198. [2]

The Joint Chiropractic offers high-quality, affordable, convenient chiropractic to families. It eliminates the need for insurance for millions of patients seeking pain relief and wellness. In Jan 2024, the Joint was named the top franchise in chiropractic services on Entrepreneur Magazine’s Franchise 500.

The network ranked No. 83 on the 2024 list. It was named a 2023 top franchise for veterans. But who owns the Joint Chiropractic? [3]

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Who is the Joint Chiropractic’s Parent Company?

The Joint Chiropractic is a chiropractors’ network owned by the Joint Corp., a NASDAQ-listed company trading as JYNT. The parent organization operates, manages, and franchises chiropractic clinics.

In 2010, the Joint Corp introduced its retail healthcare business model. This private pay, non-insurance, cash-based model revolutionized access to chiropractic care. As of May 2024, the Joint Corp was led by President and CEO Peter Holt.

The Joint Corp operates through two business segments: Corporate Clinics and Franchise Operations. The parent company has around 135 company-owned or managed clinics and over 800 franchise locations.

In Mar 2024, the Joint Chiropractic Power Ranch opened its second location in Queen Creek. The franchise clinic is dedicated to family chiropractic and spine health. It offers personalized care plans for military service members, single-visit options, monthly wellness plans, and yearly packages for families and individuals. [4]

The Joint Corp. is America’s largest chiropractic care provider through the Joint Chiropractic network. The parent company is implementing a new strategy to refranchise its corporate clinic portfolio.

This structured process has yielded several qualified franchisees with large, complex transactions. In May 2024, The Joint Corp. hired Capstone Partners to streamline its refranchising efforts.

Capstone will guide the company’s refranchising initiatives to help fuel continued expansion and enhance access to ownership opportunities. [5]

The Joint is a pioneer and undisputed leader in retail chiropractic, enhancing access to care for millions of patients. The company reinforces its leadership position by giving back to the society.

In Apr 2024, The Joint Corp partnered with Logan University to establish The Joint Chiropractic Endowed Scholarship for Logan’s Doctor of Chiropractic students. This scholarship will award $10,000 annually to a student with academic achievement and a passion for chiropractic and quality patient care. [6]

Image Credit: Joyce Hankins

The Joint Chiropractic Ownership History

An unnamed Doctor of Chiropractic founded The Joint in 1999 to transform the traditional concept of routine chiropractic care. The doctor’s vision was to make chiropractic more convenient, friendly, and affordable.

In 2003, the founder adopted the franchise model for the business. Franchising helped the Joint increase its expansion. By 2010, the Joint had eight franchised chiropractic clinics. [7]

The original company was called The Joint, The Chiropractic Place. This business has been ranked in Entrepreneur’s Franchise 500 and Fastest-Growing Franchises several times since it started franchising its clinics.

In Mar 2010, brothers Steve and Craig Colmar acquired the original eight franchised clinics and re-founded The Joint. [8]

Steve and Craig Colmar acquired The Joint Chiropractic Place from Dr. Fred in 2010. Steve hired John Leonesio to transform the Joint into a middle-market membership business. The new model attracted high-potential franchisees in 2011.

The business rebranded to The Joint Chiropractic, with The Joint Corp. as its parent company. In Nov 2014, the Joint Corp. went public and started trading on NASDAQ as JYNT. Peter Holt and his group joined the company as its new management team. The IPO transferred ownership to institutions and the general public. [9]

The Joint Chiropractic expanded across the US after its IPO. The network had over 500 company-owned and franchised clinics about 10 years after re-founding. In 2022, The Joint signed a multi-unit franchise agreement for three locations in Alaska.

The first clinic opened in Wasilla in Dec 2022, marking The Joint’s entry into Alaska. The location extended the network’s footprint to forty states. The Joint Chiropractic ranked #1 on Forbes’ 2022 America’s Best Small Companies list. [10]

Image Credit: Sincerely Media

The Joint Chiropractic’s Shareholder Structure

The Joint Chiropractic is a chiropractors’ network operated by The Joint Corp., a NASDAQ-listed company trading as JYNT. As of Dec 2023, The Joint Corp. had 15,006,741 Stock A shares with one vote. This figure includes 14,758,737 free-float shares and 32,831 company-owned shares. [11]

The Joint’s shareholder structure includes institutions, insiders, and the general public. The company has 127 institutional owners. As of Mar 2024, Bandera Partners was The Joint’s largest institutional shareholder, with 26.29%.

This stake represents 3.94 million shares. Vanguard Group is the second-largest shareholder with 6.84%, followed by Blackrock Inc. at 6.25%, Skylands Capital at 4.6%, Renaissance Tech at 2.50%, and Goldman Sachs at 2.14%.

Other top players are Shaw DE & Co. at 1.93%, Geode Capital at 2.11%, State Street Corp at 1.98%, and First Foundation Advisors at 1.40%. [12]

Bandera Partners has a significant stake in The Joint Corp. The institutional shareholder owns 26.69% of JYNT Stock A shares. With this stake, Bandera Partners has beneficial ownership of the company’s securities.

In Nov 2023, The Joint appointed Jeff Gramm to its Board of Directors. Gramm was nominated by Bandera Partners. He was appointed to the board after Bandera agreed to limit its beneficial securities ownership to its current position. [13]

The Joint’s insiders own 1.44% of the company. As of Sep 2023, CEO Peter Holt was the top insider shareholder with 96,529 shares. Director James Amos is second with 36,817 shares, followed by Board Member Suzanne Decker at 28,140, CFO Jake Singleton at 26,808, Board Member Glenn Krevlin at 26,517, and Director Abe Hong at 18,190. [14]

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