Empower Clinics Inc said it has completed its sale of Sun Valley Health Holdings LLC to focus on its healthcare vision.
The company has now completed a definitive agreement for the disposal of the firm and all subsidiaries to Andrea Klein and Dustin Klein in exchange for one million Empower based on a ten-day volume weighted average price (VWAP) of C$0.24 per share.
"The sale of Sun Valley Health, positions Empower to fully focus on our developing integrated healthcare vision," said Steven McAuley, CEO of Empower, in a brief statement.
"Our strategy is to cultivate a vast integrated healthcare network that leverages partnerships to provide patients with convenient, high-quality integrated healthcare services, products, and testing solutions. Fully divesting from these assets is a huge step forward, it opens doors to engage a breadth of new partners including banking, audit and insurance," he added.
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Following the transaction, Empower said it will continue to focus on the growth of The Medi-Collective, MediSure and Kai Medical Laboratory.
"These divisions encompass initiatives that include national medical center expansions, distribution of high-quality healthcare products, testing solutions that support the cruise line industry, and healthcare research and development," the company said.
An integrated healthcare company, Empower provides body and mind wellness for patients through its clinics, with digital and telemedicine care, a medical device company and a medical diagnostics laboratories. It says it is aggressively growing its clinical and digital presence across North America.
Contact the writer at giles@proactiveinvestors.com