News

Empower Clinics Provides Business Updates on its Continued Growth

Mar 16, 2022 | Press Releases

Testing and healthcare management of travelers represents significant opportunity to service and support the forecasted 1.2 million passengers who embark and debark cruise ships in Vancouver.

VANCOUVER, BC / ACCESSWIRE / March 16, 2022 / EMPOWER CLINICS INC (CSE : CBDT)(Frankfurt : 8EC)(OTCQB : EPWCF) (“Empower” or the “Company“) an integrated healthcare company – serving patients through medical centers, telemedicine platforms, a medical device company, and a high complexity medical diagnostics laboratory – is pleased to provide a business update for its continued growth.

“Our company is disciplined in our focus to become a North American leader for integrated healthcare. The first quarter of 2022 has seen our company advance opportunities, sharpen our operational focus and upgrade our leadership team,” said Steven McAuley, Chair and CEO of Empower Clinics. “I am excited about the progress the entire Empower team has made to date and look forward to sharing further details on our measurable growth as part of our upcoming Q4 and Year-End financial results.”

Business Update and Strategy

  • Testing solutions for cruiseline passengers in Vancouver – On February 10, 2022 the company made an announcement about COVID-19 testing solutions for cruiseline passengers in Vancouver. For the duration of the cruiseline season from April to October, many many thousands of passengers will require testing in order to successfully board cruiseships, disembark and return home. The Company also completed a milestone accreditation day as part of the required certification process in British Columbia, led by a team of the company’s expert healthcare professionals. Pricing for similar COVID-19 rapid antigen and PCR test solutions across North America range from $100 to $300 USD and more.
  • Strong growth of Medisure at-home testing solutions – On July 30, 2021 the company announced the acquisition of Medisure Medi+Sure Canada Inc. (“Medisure”), a leading Canadian manufacturer of medical devices for patients managing diabetes. Since this acquisition, the company has provided capital and strategic support that has allowed Medisure to achieve record monthly revenues and year over year growth. Medisure now has new product development launches scheduled for 2Q 2022 that will advance its goal of being a leader in at-home testing solutions.
  • Optimizing talent and operational focus – Throughout February and March of 2022, the company has made announcements that demonstrate its commitment to be a leading integrated healthcare company on a major stock exchange. The addition of Mr. Anthony Tomasello – a NASDAQ healthcare executive – to the company’s Board of Directors, demonstrates the company focus on U.S. healthcare opportunities, further, the divestment of Sun Valley Health and its related legacy assets reflect a disciplined advancement to achieve goals.

Pipeline Updates & Anticipated Milestones

  • Closing of two healthcare acquisitions – The Company previously announced the intention to acquire 8 medical clinics in Ontario representing collectively $8 MM CAD in top line revenues and 600,000 patients. All parties continue to work towards signing a definitive agreement and a closing is forthcoming. A robust pipeline of healthcare business – ranging from traditional medical clinics to health technology firms – form the foundation of strong growth.

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

ABOUT EMPOWER:

Empower is an integrated healthcare company that provides body and mind wellness for patients through its clinics, with digital and telemedicine care, a medical device company 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:

Steven McAuley
Chief Executive Officer

CONTACTS:

Media:
Steven McAuley CEO
s.mcauley@empowerclinics.com
604-227-0865

Investors:

Tamara Mason
Business Development & Communications
t.mason@empowerclinics.com
604-359-9107

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 statements regarding: the Company’s plans for a new leadership structure at Kai Medical, the timing of updates or the nature of the changes; the status of Health Canada approvals or if in fact that a Health Canada approval will be granted for Medisure products or any Company products. Such forward-looking statements 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 Company may be unable to enter into definitive agreements, or close transactions with respect to, proposed future clinic openings; that due diligence with respect to anticipated clinic openings and acquisitions may not be satisfactory to the Company; risks related to delays in permitting or construction; risks related to supply chains and access to labour; 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; that the Company will be able to commence and/or complete build-outs and tenants improvements for new clinics; general business, economic, competitive, political and social uncertainties; 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 on the terms or in the time expected, or at all, 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 securities laws.

SOURCE: Empower Clinics Inc.

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