The Joint Chiropractic has become a household name in accessible healthcare. The Joint Corp., a publicly traded company listed on NASDAQ under the ticker symbol “JYNT,” owns and operates this wellness chain that now serves over 13 million patients annually. With more than 900 locations nationwide as of April 2024, it stands as America’s largest chiropractic franchise network.
The numbers tell a compelling story. The Joint Chiropractic jumped 30 spots to #168 on the Franchise Times Top 400 list in October 2023. It also claimed the #83 position on Entrepreneur Magazine’s 2024 Franchise 500, earning recognition as the top franchise in chiropractic services. This performance stems from a two-pronged business model: Corporate Clinics and Franchise Operations, with approximately 135 company-owned clinics and over 800 franchise locations.
Since launching its franchise program in 2007, The Joint has changed how people access chiropractic care. No insurance requirements. Walk-in availability. Affordable pricing. These changes have opened doors for millions of patients who previously couldn’t access regular chiropractic treatment.
The results speak for themselves. Average franchise gross sales hit $532,094, while the 3-year failure rate remains just 3%—compared to the industry average of 8%. These metrics continue to attract investors, franchisees, and patients alike.
If you’re curious about the ownership story behind this wellness giant, you’ve come to the right place. We’ll walk through the complete journey from its humble beginnings to its current status as a publicly traded company.
Who owns The Joint Chiropractic today?
The Joint Corp., a publicly traded company headquartered in Scottsdale, Arizona, owns The Joint Chiropractic. The parent organization operates through two primary business segments: Corporate Clinics and Franchise Operations.
The Joint Corp. as the parent company
The Joint Corp. functions as both operator and franchisor of chiropractic clinics nationwide. The company directly operates approximately 135 corporate clinics, while the franchise segment oversees about 800 locations. This dual approach has enabled rapid expansion across 41 states, serving over 13 million patient visits annually.
Here’s what sets The Joint apart: the company introduced its retail healthcare approach in 2010. Traditional chiropractic practices often require insurance and appointments. The Joint Chiropractic operates on a cash-based model that eliminates both barriers, making care more accessible for patients.
NASDAQ listing and public ownership
The Joint Corp. trades on the NASDAQ stock exchange under ticker symbol “JYNT”. Public status means ownership is distributed among various stakeholders, with institutional investors holding approximately 73.03% of company shares.
Major institutions include Bandera Partners (25.7%), Vanguard Group (6.55%), and BlackRock (5.23%). Individual insiders own about 2.46% of the company, while the remaining 28.77% belongs to individual retail investors. The company has approximately 15 million outstanding shares.
Key executives and leadership team
President and CEO Sanjiv Razdan leads The Joint Corp.’s current leadership team. Razdan joined the company in October 2024, bringing over 35 years of experience in franchising and hospitality from his previous role as President of Americas and India for The Coffee Bean & Tea Leaf.
Other key executives include:
- Jake Singleton – Chief Financial Officer (joined 2015)
- Charles Nelles – Chief Technology Officer (joined 2022)
- Lori Abou Habib – Chief Marketing Officer (joined 2023)
- Beth Gross – Senior Vice President of Human Resources (joined 2024)
- Dr. Steve Knauf – Vice President of Chiropractic and Compliance (joined 2011)
The leadership team operates from company headquarters at 16767 N. Perimeter Dr., Suite 110, Scottsdale, AZ 85260.
The origin story: Who founded The Joint Chiropractic?
Every successful company starts with someone who sees a problem others ignore.
Dr. Fred Gerretzen, a practicing chiropractor, founded The Joint in 1999 in Tucson, Arizona. His story marks the beginning of what would eventually become America’s largest chiropractic franchise network.
Dr. Fred Gerretzen’s original vision in 1999
Dr. Gerretzen looked at the chiropractic industry and saw barriers everywhere. High costs kept patients away. Inconvenient scheduling made regular care nearly impossible. Insurance requirements created endless headaches.
He established The Joint with a simple but revolutionary concept: transform how people access routine chiropractic care. His goal was threefold—make treatment more affordable, more convenient, and more consumer-friendly.
This wasn’t just theory. Dr. Gerretzen recognized that significant barriers were preventing millions of Americans from getting the chiropractic services they needed.
Early years and initial clinic model
The Joint operated differently from day one.
Dr. Gerretzen implemented a no-appointment policy and extended hours, including evenings and weekends. He introduced affordable pricing with package plans available, eliminating the need for insurance. Every decision focused on removing traditional obstacles to chiropractic care.
The clinic model was remarkably focused. One core service: spinal adjustments conducted by hand. This streamlined approach demonstrated how a single treatment could improve patients’ spinal motion and physical function.
Simple. Effective. Accessible.
Adoption of the franchise model in 2003
Four years after founding, Dr. Gerretzen made a pivotal decision. He adopted the franchise model in 2003.
The move was strategic. Franchising would accelerate The Joint’s expansion beyond what he could achieve alone. Dr. Gerretzen personally opened approximately a dozen franchise locations.
But the real transformation came in 2010. The Joint was effectively “re-founded” through the acquisition of the original eight franchised clinics. Franchise expert John Leonesio, founder of Massage Envy, was brought in to establish a more aggressive growth model.
This transition marked the beginning of The Joint’s nationwide expansion and its path to becoming a publicly traded company.
From private to public: How ownership evolved
The Joint Chiropractic’s ownership story took a dramatic turn in 2010. This pivotal moment marked the beginning of its evolution from a small franchise operation to a publicly traded company.
Acquisition by Steve and Craig Colmar in 2010
March 2010 changed everything. Brothers Steve and Craig Colmar acquired the original eight franchised clinics from Dr. Fred Gerretzen. This acquisition effectively “re-founded” The Joint as a corporate entity.
The numbers tell the story of stagnation. Between 1999 and 2010, The Joint had managed only eight units under Dr. Gerretzen’s leadership. The Colmar brothers saw what others missed—untapped potential in The Joint’s business concept after experiencing it firsthand at a location in Austin, Texas.
Hiring of John Leonesio and business model shift
Steve Colmar made a decision that would reshape the company’s trajectory. He recruited John Leonesio, the founder of Massage Envy, to lead The Joint. Leonesio brought something invaluable—experience in transforming specialty health services into mainstream, membership-based businesses.
The Joint adopted the same core strategies that had made Massage Envy successful. The business model shifted dramatically toward a membership-based approach with standardized pricing. Monthly members could receive up to four treatments each month without appointments or insurance requirements.
This new model worked. It quickly attracted high-potential franchisees. By October 2011, The Joint had 81 clinics open or in development across 15 states. That’s explosive growth by any measure.
IPO in 2014 and transition to public shareholders
November 11, 2014 marked another milestone. The Joint Corp. officially went public, listing on the NASDAQ under the ticker symbol “JYNT”. The initial public offering consisted of 3,000,000 shares priced at $6.50 per share.
The company raised approximately $17.3 million in net proceeds after deducting underwriting costs and other expenses. The IPO effectively transferred ownership from private investors to institutions and the general public.
Peter Holt and his management team joined the company around this time, providing stability and setting ambitious expansion goals. A second public offering followed in November 2015, raising additional capital that funded rapid growth.
From eight clinics to a publicly traded company in just four years—that’s the kind of transformation that catches investors’ attention.
Who are the major shareholders of The Joint Corp.?
The Joint Corp.’s ownership tells a story of institutional confidence.
Institutional investors control 73.03% of the company’s outstanding shares. With approximately 15 million shares outstanding valued at around USD 120 million, this ownership structure reflects how major financial institutions view The Joint’s business model.
Top institutional investors (Bandera, Vanguard, BlackRock)
Three major players dominate the institutional landscape.
Bandera Partners LLC leads the pack with a 25.7% ownership stake, holding 3,937,296 shares valued at approximately USD 41.10 million.
The Vanguard Group follows as the second-largest institutional investor, controlling 6.55% of the company with 1,003,095 shares. BlackRock rounds out the top three, owning 5.23% of The Joint Corp. with 801,060 shares.
BlackRock’s position tells an interesting story. The investment giant has significantly reduced its stake in recent years, dropping from 15.10% ownership to 6.5%—a substantial reduction of 8.60%.
Insider ownership and executive stakes
Company insiders hold a modest 3.03% of The Joint Corp., representing 462,937 shares. This percentage might seem small, but it shows that leadership maintains skin in the game. Previous filings revealed that Peter D. Holt held 2.1% of shares, while other named executive officers and directors as a group owned approximately 3.5%.
Board influence and recent appointments
The board composition continues to evolve with the company’s growth strategy.
Christopher M. Grandpre was recently elected as a director, replacing Glenn Krevlin who chose not to seek re-election. What’s particularly noteworthy is Jeff Gramm’s presence on the board—he serves as a portfolio manager at Bandera Partners, The Joint’s largest shareholder. This connection highlights the significant influence Bandera has on company governance beyond simple share ownership.
The seven-member board combines franchise industry veterans with investment professionals, creating a balanced oversight structure that represents both operational expertise and shareholder interests.
Put this ownership knowledge to work
The Joint Corp. owns The Joint Chiropractic through a public company structure that balances institutional investment with insider leadership. We’ve walked through the complete ownership journey—from Dr. Fred Gerretzen’s original vision in 1999 to today’s publicly traded company with over 900 locations.
The ownership story reveals why The Joint succeeded where others struggled. The 2010 acquisition by the Colmar brothers brought fresh capital and vision. John Leonesio’s membership model expertise accelerated growth. The 2014 IPO provided the funding needed for nationwide expansion.
What makes this ownership structure work? Institutional investors like Bandera Partners bring financial stability, while insider ownership keeps leadership focused on long-term success. This combination has delivered 13 million annual patient visits and a 3% franchise failure rate.
The Joint’s approach changed an entire industry. Walk-in availability. No insurance hassles. Affordable pricing. These weren’t just business decisions—they removed barriers that kept millions of people from accessing chiropractic care.
Whether you’re evaluating franchise opportunities, considering investment options, or simply curious about accessible healthcare business models, The Joint’s ownership evolution offers valuable insights. The company went from 8 clinics to 900+ locations by aligning ownership structure with growth strategy.
Understanding who owns and operates The Joint Chiropractic gives you the context needed to evaluate this wellness company’s trajectory and potential.
FAQs
Q1. Who currently owns The Joint Chiropractic?
The Joint Corp., a publicly traded company listed on NASDAQ under the ticker symbol “JYNT,” owns The Joint Chiropractic. The company operates through corporate-owned clinics and franchises, with ownership distributed among institutional investors, company insiders, and public shareholders.
Q2. How did The Joint Chiropractic start?
The Joint Chiropractic was founded in 1999 by Dr. Fred Gerretzen in Tucson, Arizona. He envisioned making chiropractic care more affordable, convenient, and consumer-friendly. The company adopted a franchise model in 2003 to accelerate expansion.
Q3. What makes The Joint Chiropractic different from traditional chiropractic offices?
The Joint Chiropractic operates on a membership-based model with standardized pricing, no appointments necessary, and extended hours including evenings and weekends. They don’t require insurance, making chiropractic care more accessible and affordable for patients.
Q4. How has The Joint Chiropractic’s ownership changed over time?
The Joint Chiropractic began as a small franchise operation and was acquired by Steve and Craig Colmar in 2010. Under new leadership, the company adopted an aggressive growth strategy. In 2014, The Joint Corp. went public through an IPO, transitioning to public ownership.
Q5. Who are the major shareholders of The Joint Corp.?
Institutional investors hold the majority of The Joint Corp.’s shares, with Bandera Partners LLC being the largest shareholder at 25.7%. Other major institutional investors include The Vanguard Group and BlackRock. Company insiders, including executives and board members, also own a small percentage of shares.