Launch Confirms Empower Stated Strategy To Execute National Clinic Expansion Following Canadian Clinics Acquisition And Partnership Announcements in 2021
VANCOUVER, BC / February 25, 2021 / EMPOWER CLINICS INC. (CBDT:CSE) (8EC:Frankfurt) (EPWCF:OTCQB) (“Empower” or the “Company“) an integrated healthcare company serving patients through medical centres, telemedicine platforms, operating a high complexity medical diagnostics laboratory processing thousands of COVID-19 specimens, is pleased to announce the launch of its first three integrated health centres in Ontario, Canada with each location expected to generate $2,560,000 – $3,600,000 in annual revenue. Advanced discussions are currently underway on multiple additional locations as the Company begins the rollout of its national clinic expansion strategy.
THREE ONTARIO LOCATIONS AND TWELVE PHYSICIANS COMMITTED TO OPEN
The locations and approximate sizes of the integrated health centres are as follows:
1) Etobicoke, Ontario Approximately 2,700 sq ft.
2) London, Ontario Approximately 3,100 sq ft.
3) Etobicoke, ON (site two) Approximately 2,900 sq ft.
“Dr. Aviv Tsimmerman and Dr. Jordan Rabinowitz are executing on our growth initiatives, they are achieving milestones, they are opening our healthcare centers.” said Steven McAuley, Chairman & CEO. “Our approach is based on patients and their needs, the delivery of care, an improved healthcare model, that provides advanced technology and access for an improved healthcare outcome.”
Each location is expected to host 4-6 physicians. Empower has already secured commitments from twelve (12) physicians to date, with numerous additional medical doctors and para-medical practitioners expressing interest to join the team.
“Having a strategic blend of health professionals allows us to provide an unparalleled integrative healthcare experience.” stated Dr. Jordan Rabinowitz, Chief Operating Officer. He further states, “This defines our path to assist millions of Canadians nationwide.”
HEALTH CARE SERVICES TO BE DELIVERED AND ANTICIPATED REVENUE MODEL
Empower will be opening primary care, plus para-medical healthcare services, with a target of four (4) to six (6) medical doctors and four (4) to six (6) paramedical practitioners per location.
Primary care services include:
- Family physicians
- Walk-in physicians
- Tele-medicine and virtual care
Empower expects to generate $400,000 – $600,000 in annual revenue per MD, per location, which equates to a revenue range between $1,600,000 – $2,400,000 annually per location.
Paramedical services include:
- Registered Massage Therapy
Empower expects to generate $960,000 – $1,200,000 in annual revenue per location.
Together, when each location is fully operational, Empower expects to generate $2,560,000 – $3,600,000 in annual revenue per location.
ADDITIONAL HEALTH CARE SERVICES EXPECTED TO BE ADDED
Given the anticipated expansion and penetration of Empower Clinics into the Canadian market, the Company intends to continue adding valuable specialized medical services to strengthen the quality of healthcare at each location that can include:
Empower is currently in advanced discussions with potential partners in each of these specialty areas and believes they hold the potential to add significant value to the operations of each healthcare centre.
This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management https://agoracom.com/ir/EmpowerClinics
Empower is an integrated healthcare company that provides body and mind wellness for patients through its clinics, with digital and telemedicine care, and world-class medical diagnostics laboratories. Supported by an experienced leadership team, Empower is aggressively growing its clinical and digital presence across North America. Our Health & Wellness and Diagnostics & Technology business units are positioned to positively impact the integrated health of our patients, while simultaneously providing long term value for our shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS:
Chief Executive Officer
Business Development & Communications
DISCLAIMER FOR FORWARD-LOOKING STATEMENTS
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, but are not limited to, statements regarding: the expected benefits to the Company and its shareholders as a result of the acquisition of Kai Medical Laboratory; the transaction terms; the expected number of clinics and patients following the closing; the future potential success of Kai Medical Laboratory, that the KAI LAB expansion will be completed on time or at all; launch of new healthcare centers and the occurrence thereof; that the Company can bring healthcare to millions of Canadians; that new healthcare services can be added and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2020 and beyond; that new medical doctors will join and will remain in the future; that additional healthcare services will be identified or added to the services of the Company. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the Kai Medical Laboratory acquisition may not be completed on the terms expected or at all; that the Company’s products may not work as expected; that the Company may not be able to expand COVID-19 testing; that legislative changes may have an adverse effect on the Company’s business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed transaction; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.