07:40 AM EDT, 06/25/2025 (MT Newswires) -- Joint (JYNT) said Wednesday it has signed a binding Asset Purchase Agreement to sell 31 corporate-owned and managed clinics in Arizona and New Mexico to Joint Ventures, its largest franchisee, in exchange for cash and the regional developer rights of the Northwest US.

The company said the regional developer rights are related to 46 existing franchised clinics and 30 sites for future clinic development.

As part of the deal, the company said Joint Ventures will increase its total clinic count to 96 across California, Oregon, New Mexico, and Arizona and open 10 additional clinics in the region.

Additionally, the Joint said it sold five clinics in the Kansas City area to Chiro 93.

The sale is expected to close on June 30, it added. Financial terms were not disclosed.

Shares of the company were up 3.5% in Wednesday's premarket activity.