Clinic buildouts to commence in Ontario, Canada with annualized revenues for the six locations estimated between $12 million and $18 million CAD
VANCOUVER, BC / ACCESSWIRE / June 7, 2021 / EMPOWER CLINICS INC. (CBDT:CSE) (8EC:Frankfurt) (EPWCF:OTCQB) ('Empower' or the 'Company') an integrated healthcare company - serving patients through medical centers, telemedicine platforms and a high complexity medical diagnostics laboratory processing thousands of COVID-19 specimens - is pleased to announce the signing of six Letters of Intent (LOI's) to open medical healthcare centers with REXALL/PHARMA PLUS PHARMACIES LTD the second largest pharmacy group in Canada.
It is proposed that Empower will act as a subtenant for these initial six locations to build and operate health care centers as a key driver of Empower's national clinic expansion strategy. Services include full primary care led by medical doctors plus paramedical services with practitioners providing services including chiropractic care, physiotherapy and more. Beneficiaries of these services include the pharmacies large existing customer base in addition to patients in the wider communities each location will serve.
Using Empower's expertise in physician recruitment and clinic management, these clinics are estimated to serve thousands of patients per location once fully constructed, with four to six medical doctors and healthcare practitioners per location, respectively.
'With estimated annual revenues of $2,000,000 - $4,000,000 per location, it's not an understatement to call this a big acceleration of our game-changing growth strategy for both our patients and shareholders.' said Steven McAuley, Chairman & CEO of Empower Clinics. 'Working with national pharmacy brands both in Canada and the U.S. is proving to be the correct strategy, the correct plan, the correct path forward.'
PROPOSED NEW CLINIC LOCATIONS
117B Cedar St. Sudbury, Ontario (3900 square ft)
350 Cresthaven Dr. Ottawa, Ontario (1500 square ft)
3701 Lakeshore Blvd W. Toronto, Ontario (1800 square ft)
401 St. Clair Street Chatham, Ontario (2500 square ft)
85 George St. N. Peterborough, Ontario (2000 square ft)
3 N Service Rd. St. Catharines, Ontario (2500 square ft)
HEALTH CARE SERVICES TO BE DELIVERED
Empower will be opening primary care and para-medical healthcare services in its various locations.
Primary care services include:
- Family physicians
- Walk-in physicians
- Tele-medicine and virtual care
Paramedical services include:
- Registered Massage Therapy
ADDITIONAL HEALTH CARE SERVICES EXPECTED TO BE ADDED
Given the 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:
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
Steven McAuley CEO
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, Sun Valley's franchise model; 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. 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 all clinics locations will achieve forecast volume and revenue estimates; that all medical and paramedical services will be included with every location; that each LOI's will result in a completed sublease agreement; that the MedX Health pilot program will be successful; that Empower will place the MedX Health teledermatology product in health centers in North America; 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; that the Company will be able to commence and/or complete build-outs and tenants improvements for Canadian clinics or Kai Medical Laboratory expansion inn 2Q 2021; that 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.
SOURCE: Empower Clinics Inc.
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