Empower Clinics Inc. (CSE:CBDT, OTCQB:EPWCF) has provided a business update, outlining its recent highlights and 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," Steven McAuley, Empowered Clinics chair and CEO said in a statement.
"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," he added.
WATCH: Empower Clinics signs transformational deal with Ceres Terminals Canada to help restart Vancouver cruise industry
Recapping some recent highlights, the company noted that on February 10, 2022, it made an announcement about COVID-19 testing solutions for cruise line passengers in Vancouver. Empower Clinics signed a Memorandum of Understanding (MoU) to provide COVID- 19 testing and logistics management with Ceres Terminals Canada which is the operator of the cruise ship terminal at Canada Place.
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.
On July 30, 2021, the company announced the acquisition of Medisure Medi+Sure Canada Inc., a leading Canadian manufacturer of medical devices for patients managing diabetes. Since this acquisition, Empower 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.
Throughout February and March of 2022, Empower made announcements demonstrating its commitment to be a leading integrated healthcare company on a major stock exchange. The addition of Anthony Tomasello - a NASDAQ healthcare executive - to the company's board of directors, demonstrates the company's focus on US healthcare opportunities. Addtionally, the divestment of Sun Valley Health and its related legacy assets reflect a disciplined advancement to achieve goals, the company said.
Empower Clinics previously announced its intention to acquire eight medical clinics in Ontario representing collectively C$8 million in top-line revenues and 600,000 patients. It said that all parties continue to work towards signing a definitive agreement and noted that a closing is forthcoming.
A robust pipeline of healthcare businesses - ranging from traditional medical clinics to health technology firms - form the foundation of strong growth, the company added.
Empower 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.
Contact the author at jon.hopkins@proactiveinvestors.com