You may be reading the headline of this article and wondering, “What does The Joint have to do with these power brands?”  The answer; they are all publicly traded companies.

The Joint Corp. filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO). No terms were given for the offering, but the filing is for up to $35 million.

The company plans to list on the Nasdaq Global Market under the symbol JYNT.
The sole book runner for this offering is Feltl and Company, the co-manager is Sanders Morris Harris.
The Joint is a franchisor of chiropractic clinics that operate on a non-insurance, cash-based model.
The company has a network of 215 modern chiropractic clinics operated by franchisees that employ only licensed chiropractors. A differentiating factor for these clinics is that they are open longer hours than many competitors and patients do not need appointments. One component of the model is that it does not accept insurance and does not provide Medicare covered services.[quote_center]The Joint has attracted an average of between 540 and 948 new patients per year to its clinics between 2010 and 2013, as compared to the 2013 average of 364 new patients per year for the chiropractic industry.[/quote_center]For those who may not be fully aware about what The Joint is; here is a video from Dr. Patrick Greco as he is opening a clinic in Alanta. Joint model is simple – monthly membership plans for only $49 per month. This entitles patients up to 4 visits per month with additional visits only $19 each.In the six months ending in June, the franchised clinics registered 948,304 patient visits and generated revenues of $19 million. The company receives a royalty of 7% of gross revenues from franchised clinics and 4% of gross revenues from clinics franchised through regional developers.Joint also collects a national marketing fee of 1% of gross revenues from all franchised clinics.

The company receives a franchise fee of $29,000 for franchises if it sells directly and a franchise fee of $14,500 for franchises sold through regional developers.

In 2013, The Joint had a net income of $155,635. For the six months ending in June, the company had a net loss of $261,646.

What do you think about this?  In your opinion, does this HELP or HURT the chiropractic profession?