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SEC filingThe Joint Corp. closed the sale of 13 Southern California clinics to Elite Chiro Group for part of $2.3 million total, with operations of remaining 32 clinics assumed under management agreement pending lease assignments.
The Joint Corp. has executed a pivotal transaction under its Elite Chiro Group Purchase Agreement, selling assets and granting franchise rights for 45 corporate-owned or managed clinics in Southern California to Elite Chiro Group for $2.3 million, subject to adjustments. This deal, effective April 20, 2026, saw immediate progress with the closing of 13 clinics on April 27, 2026, transferring ownership directly to the buyer. Simultaneously, Elite Chiro Group assumed operational control of the remaining 32 clinics via a Management Service Agreement, bridging the gap until lease assignments enable full ownership transfers. Each clinic closing hinges on successful lease assignments, alongside standard closing conditions, underscoring execution risks tied to real estate dependencies. Strategically, this refranchising—combined with two prior agreements—positions The Joint as a capital-light pure-play franchisor, slashing corporate-managed clinics to just three from 960 total. CEO Sanjiv Razdan emphasized this as a core element of The Joint 2.0 growth phase, focusing resources on franchisee success and portfolio-wide profitability. Buyer Elite Chiro Group, backed by Gadi Emein and led operationally by Michael Aminpour, brings proven expertise across medical, restaurant, and real estate sectors, enhancing transition confidence. The company continues refranchising its final three clinics, solidifying its franchisor model amid a network exceeding 950 locations.