Authorize clinics to sell two clinics within the medi-collective after operational review
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Clinics in Mississauga and Hamilton will 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 diagnostic laboratory – announced today that it would 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 effective September 1, 2022.
“After analyzing the operations of our TMC clinics and considering the potential for future growth, we have decided that the clinics in Hamilton and Mississauga are not fully meeting our expansion goals,” said Steven McAuley, President and CEO of Empower Clinics. “These decisions are not taken lightly, but we must adapt to our current climate and invest our resources where patients can benefit from truly integrated healthcare.”
“These two locations are the smallest of our clinics and do not have the optimal capacity to add wellness or private services,” said Carolyn Shields, senior vice president of operations for TMC. “In today’s healthcare landscape with a severe shortage of physicians, TMC must focus on clinics that maximize revenue opportunities by providing integrated healthcare with traditional medical and wellness solutions.”
Six clinics 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 Street N2B 2A7, Kitchener
- 94 Fanshawe Park Rd E, N5X 4C5, London
- 88 Eglinton Avenue West, M4R 1A2, Toronto
- 531 Atkinson Ave, L4J 8L7, Thornhill
This press release is available on the Empower Clinics Verified forum on AGORACOM for shareholder discussions, questions and dialogue with management https://agoracom.com/ir/EmpowerClinics
Empower is an integrated healthcare company that provides physical and mental well-being to patients through its clinics, with digital and telemedicine care, a medical device company and world-class medical diagnostic laboratories. Supported by an experienced management team, Empower is aggressively growing its clinical and digital presence in North America. Our Health & Wellness and Diagnostics & Technology business units are positioned to positively impact the integrated health of our patients, while simultaneously delivering long-term value for our shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS:
Chief executive officer
Steven McAuley CEO
Business development and communications
DISCLAIMER OF FORWARD-LOOKING STATEMENTS
This press 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 facts, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Forward-looking statements can often be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information indicating that certain events or conditions “may” or “will occur”. These forward-looking statements 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 the Company may not be able to enter into definitive agreements or enter into transactions with respect to proposed future clinic openings; that due diligence with respect to planned clinic openings and acquisitions may not be satisfactory to the Company summer; risks related to permit or construction delays; risks relating to supply chains and access to labour; that legislative changes may have a negative effect on the Company’s activities and the development of its products; that the Company may not be able to obtain adequate financing to pursue its business plan; that the Company will be able to begin and/or complete construction and leasehold improvements for the new clinics; general business, economic, competitive, political and social uncertainties; 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 as or when expected, or not at all, or, if they occur, what benefits the Company will derive therefrom. Readers are cautioned not to place undue reliance on the forward-looking statements contained 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 contained in this release, whether as a result of new information, future events or otherwise, unless this is expressly required by applicable securities laws.
THE SOURCE: Empower Clinics Inc.
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