Empower Clinics to Divest Two Clinics Within The Medi-Collective Following Operational Review

Aug 22, 2022 | Press Releases

Mississauga and Hamilton clinics to close effective September 1 leaving six clinics in operation

VANCOUVER, BC / ACCESSWIRE / August 22, 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 – announced today it will divest of two The Medi-Collective (TMC) clinics, located in Hamilton and Mississauga, following an operational review. Both clinics will no longer operate under TMC as of September 1, 2022.

“After analyzing the operations of our TMC clinics and taking into consideration the potential for future growth, we’ve decided that both Hamilton and Mississauga clinics do not fully meet our expansion goals”, stated Steven McAuley, Chairman and CEO of Empower Clinics. “These decisions are not made lightly but we need to adjust to our current climate and invest our resources where patients can experience truly integrated health care.”

“These two locations are the smallest of our clinics and don’t have the optimal ability to add wellness or private services,” stated Carolyn Shields, Senior Vice President of Operations for TMC. “In the current healthcare landscape with a severe shortage of physicians, TMC needs to focus on clinics that maximize revenue opportunities by offering integrated health care with both traditional medical and wellness solutions”.

Six clinics continue to operate at the following addresses:

  1. 440 Brown’s Line, M8W 3T9, Etobicoke
  2. 3590 Lake Shore Blvd. W, M8W 1N6, Etobicoke
  3. 537-547 Frederick St. N2B 2A7, Kitchener
  4. 94 Fanshawe Park Rd E, N5X 4C5, London
  5. 88 Eglinton Ave W, M4R 1A2, Toronto
  6. 531 Atkinson Ave, L4J 8L7, Thornhill

This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management