Who Owns The Joint Chiropractic in 2025? A Look at the Company's Leadership

The Joint Corp. owns The Joint Chiropractic and trades publicly on NASDAQ as JYNT. This healthcare provider serves over 13 million patients each year through nearly 1,000 locations in the United States. The company's presence in the chiropractic industry is remarkable.

Major stakeholders like Bandera Partners and Vanguard hold substantial ownership in the company. The Joint Chiropractic welcomed Sanjiv Razdan as its new president and CEO in October 2023 after Peter Holt stepped down. The company's growth has been impressive, with revenue jumping 28% last year. This is a big deal as it means that annual revenue will top $70 million.

The Joint Chiropractic keeps climbing industry rankings. It moved up 30 spots to #168 on the Franchise Times Top 400 list. The company also earned the #83 spot on Entrepreneur Magazine's Franchise 500 for 2024, making it the leading franchise in chiropractic services.

The $16 billion chiropractic market offers huge potential since chains make up only 3% of total spending. The company plans to open up to 30 new clinics in Maryland and Washington, D.C. over the next few years.

The founder and early ownership of The Joint Chiropractic

The Joint Chiropractic started in 1999 when a Doctor of Chiropractic dreamed of reshaping the scene of traditional chiropractic care. Some sources name Dr. Fred Gerretzen as the founder, while others mention Anne Gerretzen Michaud as a co-founder who shared the company's early vision. Whatever the exact founding details were, the original idea focused on making chiropractic services available, affordable, and user-friendly.

Original founder and vision

The founder's mission was bold yet simple: build a chiropractic practice that removed barriers that kept people from getting treatment. This meant creating a model with more convenience, a friendlier atmosphere, and prices that were nowhere near what traditional chiropractic offices charged. This vision ended up changing how millions of Americans got their spinal adjustments and chiropractic care.

Transition to franchise model

The original owners made a game-changing decision in 2003 to adopt a franchise business model. This change let The Joint grow faster by allowing entrepreneurs to open locations under The Joint brand. So by early 2010, the company had eight franchised chiropractic clinics up and running. This proved the concept worked, even with modest growth at first.

Re-founding by Steve and Craig Colmar

March 2010 brought a major turning point when brothers Steve and Craig Colmar bought and re-founded The Joint. They purchased the original eight franchised clinics from Dr. Fred, which gave the operation a fresh start. The business operated as "The Joint, The Chiropractic Place" during this time.

Steve Colmar made a vital strategic move after taking ownership. He brought in John Leonesio, who had already achieved success with Massage Envy. The new leadership refined the business model to focus on memberships, similar to Leonesio's approach in the massage industry. This change set the stage for massive future growth. The business then rebranded to "The Joint Chiropractic" and established "The Joint Corp." as its parent company.

From private to public: The Joint Corp. and IPO

The Joint Corp's evolution from a private company to a public entity reshaped the ownership structure of The Joint Chiropractic. The company expanded its franchise operations for several years under private ownership before taking a bold step toward wider ownership.

Going public in 2014

The Joint Corp. made its debut in the public market through its Initial Public Offering (IPO) in November 2014. The company released 3,000,000 shares of common stock at $6.50 per share. This move brought in about $17,285,000 in net proceeds after accounting for underwriting discounts, commissions, and other offering-related expenses.

The Securities and Exchange Commission (SEC) gave its approval on November 10, 2014, which allowed the registration statement for these securities to take effect. This regulatory green light let the company move forward with its public offering and start trading.

NASDAQ listing and stock symbol JYNT

The Joint Corp. earned its spot on the NASDAQ Capital Market and started trading under 'JYNT'. Trading began on Tuesday, November 11, 2014. The IPO wrapped up on November 14, 2014, meeting all standard closing requirements.

The company's IPO deal gave underwriters 45 days to buy up to 450,000 extra shares of common stock to handle any over-allotments. This option helped manage the market's appetite for these new shares effectively.

Impact of IPO on ownership

The Joint Chiropractic's ownership structure changed fundamentally through the IPO. The switch from private to public status spread ownership among many institutional and individual investors who bought shares. This change created a broader and more diverse group of stakeholders.

The public listing created new ways for ownership to change through stock market trading. Today's ownership of The Joint Chiropractic reflects this structure, with major institutional investors and company insiders holding much of the company.

The current leadership team in 2025

The Joint Chiropractic's daily operations run under a leadership team led by Sanjiv Razdan in 2025. He guides the company's strategic direction while institutional investors hold ownership stakes.

CEO Sanjiv Razdan's background

Sanjiv Razdan became President and Chief Executive Officer of The Joint Corp. in October 2024. His 35-year career spans franchising and hospitality sectors. He held key positions at major franchise organizations like YUM! Brands (Pizza Hut and KFC), Dine Brands (Applebee's), and served as President of Americas and India for The Coffee Bean & Tea Leaf.

A back injury during a workout turned Razdan into a "chiropractic enthusiast". This personal experience deepens his commitment to The Joint's mission of making chiropractic care affordable.

Executive team and their roles

The Joint Chiropractic strengthened its executive leadership with strategic appointments in 2025. Andra J. Terrell stepped in as Senior Vice President Legal to enhance legal execution for the franchise system. Eric Wyatt took the role of Senior Vice President Operations and Patient Experience to enhance clinic operations and patient experiences. Both leaders report to Razdan directly.

The leadership team also has Jake Singleton (Chief Financial Officer), Lori Abou Habib (Chief Marketing Officer), Charles Nelles (Chief Technology Officer), and Dr. Steve Knauf (Vice President of Chiropractic and Compliance). Beth Gross and Craig Sherwood joined as SVP of Human Resources and SVP of Development respectively in 2025.

Strategic goals under new leadership

Razdan's team has set clear strategic priorities to transform The Joint into "a world class, pure-play franchisor". The company wants to strengthen its foundation, spark growth, and boost profitability at clinic and company levels. The leadership focuses on refranchising corporate clinics and enhancing patient experience. They implement price increases, strengthen promotions, and optimize digital marketing strategies. The team plans to release a mobile app and make improvements to attract and retain new patients.

Who really owns The Joint today?

The Joint Chiropractic's ownership splits between institutional investors, company insiders, and public shareholders. A small group of major investors holds the most important influence over the company's direction.

Institutional investors and their stakes

Institutional investors currently own 46% of The Joint Corp. and represent the dominant ownership group as of 2025. Their substantial backing brings stability to the company while making it accountable to these powerful stakeholders' expectations. Their large holdings give them considerable control over share prices and strategic decisions. Company insiders and public shareholders own the remaining portions.

Top shareholders like Bandera Partners and Vanguard

Bandera Partners LLC emerges as the undisputed largest shareholder with approximately 26.29% of The Joint through 3.94 million shares. This position grants Bandera massive control over company decisions. Vanguard Group ranks second with 6.84% of shares, while BlackRock Inc. follows with 6.25%.

Other key institutional stakeholders include:

• Skylands Capital (4.6%)

• Renaissance Technologies (2.5%)

• Goldman Sachs (2.14%)

• Geode Capital (2.11%)

• State Street Corp (1.98%)

Eight investors control more than half (51%) of The Joint's shares. This creates a concentrated power dynamic within the ownership structure.

Insider ownership and board influence

Company insiders hold a modest 1.44% ownership stake. Their influence extends beyond their shareholdings through their management roles and board presence.

Jeff Gramm's appointment to The Joint's Board of Directors in November 2023 showcases Bandera Partners' board influence.

This appointment came with a Nominating and Standstill Agreement that limits Bandera's ownership to its current position through early 2025. These arrangements demonstrate how major shareholders' ownership directly impacts The Joint Chiropractic's governance structure.

Conclusion

The Joint Corp. (NASDAQ: JYNT) will fully own The Joint Chiropractic in 2025. Institutional investors control 46% of the company. Bandera Partners leads the pack with a 26.29% stake. Vanguard Group and BlackRock Inc. follow with 6.84% and 6.25% respectively. These major investors play a crucial role in steering the company's direction.

Sanjiv Razdan took the helm as President and CEO in 2023, and his impact on the company's path has been remarkable. His rich experience in franchising combined with his personal connection to chiropractic care strengthens the company's goal to provide affordable care. The company also benefits from a talented executive team that supports its growth targets effectively.

The Joint Chiropractic's performance numbers tell an impressive story. The company boosted its revenue by 28% and expects annual revenue to cross $70 million. The company's rise to #168 on the Franchise Times Top 400 list and #83 on Entrepreneur Magazine's Franchise 500 shows its strong position in the chiropractic industry.

The future looks bright for The Joint Chiropractic. The company aims to become "a world class, pure-play franchisor" and plans to open up to 30 new clinics in Maryland and Washington, D.C. While The Joint Corp. maintains ownership, major investors like Bandera Partners will continue to shape the company's path in the $16 billion chiropractic market.

FAQs

Q1. Who currently owns The Joint Chiropractic?

The Joint Corp., a publicly traded company listed on NASDAQ under the symbol JYNT, owns The Joint Chiropractic. Institutional investors hold a significant portion of the company, with Bandera Partners being the largest shareholder at approximately 26.29%.

Q2. Who is the current CEO of The Joint Chiropractic?

Sanjiv Razdan is the current President and Chief Executive Officer of The Joint Corp. He took on this role in October 2023, bringing over 35 years of experience in franchising and hospitality sectors.

Q3. How has The Joint Chiropractic's ownership structure changed over time?

The Joint Chiropractic began as a privately owned company, transitioned to a franchise model in 2003, and then went public with an IPO in 2014. This shift from private to public ownership dispersed control among institutional and individual investors.

Q4. What are The Joint Chiropractic's recent performance indicators?

The Joint Chiropractic has shown strong growth, with a 28% revenue increase in the last year and projected annual revenue exceeding $70 million. It has also climbed to #168 on the Franchise Times Top 400 list and #83 on Entrepreneur Magazine's Franchise 500.

Q5. What are the future expansion plans for The Joint Chiropractic?

The Joint Chiropractic aims to strengthen its core business, reignite growth, and improve profitability. Specific plans include developing up to 30 new clinics in the Maryland and Washington, D.C. area, launching a mobile app, and enhancing digital marketing efforts to drive patient acquisition and retention.