Jack Nathan Medical names interim CEO amid strategic review

Jack Nathan Medical Corp. (TSXV: JNH) announced Mike Marchelletta stepped down as chief executive officer to lead a potential investor syndicate evaluating strategic transactions involving the company.

Michael Di Cesare, former co-founder and chief operating officer, was appointed interim chief executive officer and vice-chairman effective immediately, according to a company statement.

Marchelletta entered a four-month lock-up agreement covering 21 million common shares and temporarily assigned voting rights to Di Cesare as trustee during the lock-up period. He will continue deferring executive compensation at zero interest to support company operations.

The company eliminated approximately $15 million in debt and canceled about 140 million common shares previously issuable under legacy debenture financing arrangements as part of its balance sheet optimization program.

Jack Nathan Medical operated medical clinics before restructuring its Canadian operations through an asset sale to Well Health Technologies Corp. in December 2024 and ceasing Walmart Mexico operations in June 2025. The company now explores new business opportunities.

"This transition reflects my continued confidence in the Company's platform and long-term potential," Marchelletta said in the statement.

Di Cesare stated he is "focused on advancing the Company through this next phase with discipline and momentum."

The company noted any potential transaction remains subject to customary conditions, definitive documentation and regulatory approvals, with no assurance of completion.

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