Empower Clinics Inc. (CSE:CBDT, OTCQB:EPWCF) has said that following an operational review it will divest two clinics, located in Hamilton and Mississauga, adding that both clinics will no longer operate under The Medi-Collective (TMC) banner from 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," Steven McAuley, chairman and CEO of Empower Clinics said in a statement.
"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," he added.
READ: Empower Clinics says COVID-19 tests at its Vancouver clinics exceeded 4,000 in July
"These two locations are the smallest of our clinics and don't have the optimal ability to add wellness or private services," commented 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 TMC clinics will continue to operate at the following addresses:
- 440 Brown's Line, M8W 3T9, Etobicoke
- 3590 Lake Shore Blvd. W, M8W 1N6, Etobicoke
- 537-547 Frederick St. N2B 2A7, Kitchener
- 94 Fanshawe Park Rd E, N5X 4C5, London
- 88 Eglinton Ave W, M4R 1A2, Toronto
- 531 Atkinson Ave, L4J 8L7, Thornhill
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.
Contact the author at jon.hopkins@proactiveinvestors.com