Empower Clinics and Loop Insights Combine COVID-19 Testing Expertise With Venue Tracing To Create First Ever "Travel Bubble" Solution For Global Travel Industry Set To Lose $3.3 Trillion

Rhea-AI Summary

Empower Clinics (OTC PINK:EPWCF) announces a partnership with Loop Insights to develop a comprehensive COVID-19 mitigation solution aimed at reviving the global travel industry, which faces losses of up to $3.3 trillion due to ongoing travel restrictions. The solution includes venue tracing, rapid testing, and real-time notifications to facilitate safer travel. Empower's KAI Medical Laboratory is equipped for high-volume testing, providing results in just 15 minutes. This initiative aligns with industry calls for testing alternatives to mandatory quarantines.

Positive

• Partnership with Loop Insights combines COVID-19 testing and venue tracing, enhancing travel safety.
• KAI Medical Laboratory capable of processing 4,000 RT-PCR test specimens per day provides scalable testing solutions.
• Rapid test results in 15 minutes support quicker reopening of industries and tourism.

Negative

• Global tourism industry facing potential losses of $3.3 trillion due to COVID-19 restrictions.
• 58 countries completely closed and 124 partially open with mandatory quarantines, significantly limiting travel.

The Company advises that discussions are already underway with major airlines , cruise ship companies and hotel operators

VANCOUVER, BC / ACCESSWIRE / October 19, 2020 / Empower Clinics (CSE:CBDT) (OTC PINK:EPWCF) (FRA:8EC) (the "Company" or "Empower"), a vertically integrated health and wellness company serving a database of 165,000 patients through clinics in the southwest United States, a telemedicine platform and a world-class medical diagnostics laboratory, is pleased to announce a partnership with Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) to provide an end-to-end COVID-19 mitigation solution complete with venue tracing, real-time automated guest exposure notifications and frequent testing with rapid results in 15 minutes.

TRAVEL BUBBLE SOLUTION SOLVES CURRENT QUARANTINE REQUIREMENTS THAT ARE SHUTTING DOWN INTERNATIONAL TRAVEL

As a result of the COVID-19 pandemic, mandatory 14 day quarantine periods and the lack of any travel bubble solutions that could reliably track and mitigate the global spread of the virus by plane or cruise ship, countries have been forced to take drastic measures that are leading to significant damage of the global travel industry.

Specifically, as of today, travel restrictions by country are as follows:

• 58 countries are completely closed
• 124 countries are partially open with MANDATORY quarantine upon arrival

(Source - https://www.ca.kayak.com/travel-restrictions)

Together, Loop and Empower have created a system built on the pillars of:

• Venue tracing
• Frequent testing with rapid results
• Real-time reporting to ensure the travel bubble provides end-to-end protection

As the front facing part of the Travel Bubble solution, Loop Insights is a powerful Artificial Intelligence company whose industry leading venue tracing has gained significant traction towards reopening the tourism, hospitality and entertainment industries in the United States with the likes of University of Houston and the NCAA Basketball #VegasBubble, as well as, recently being recognized by TELUS as one of the most advanced IoT solutions in the world for their customers.

Empower's rapid antigen and antibody tests produce results in only 15 minutes, providing airlines, cruise ships and the 182 countries currently in full or partial shutdown with the safety and security necessary to fully reopen their borders to international travel.

Moreover, Empower owns KAI Medical Laboratory, a high-complexity CLIA and COLA accredited laboratory that provides reliable and accurate testing solutions to enterprise level clients, hospitals, medical clinics, pharmacies, and employer groups.

KAI has taken an active role in COVID-19 testing, battling the pandemic through RT-PCR testing and serology testing with the capacity to process 4,000 RT-PCR test specimens per day. COVID-19 RT-PCR testing is the gold standard due to its high degree of accuracy and will play an important role in the Travel Bubble solution.

Steven McAuley, Chairman and CEO of Empower Clinics stated "As we expand our efforts on the Get Back To Work testing initiative, it has become apparent that businesses of all types, large or small, private or public sector require not only fast and accurate COVID-19 testing, but also a comprehensive solution for contact tracing. Establishing a partnership with Loop, working with the RT-PCR and rapid testing capabilities of Kai Medical, allows our companies together to establish a safe and viable economic recovery solution."

Loop Insights CEO Rob Anson stated: "We have heard from stakeholders in the entertainment, travel, and hospitality industries that have stressed the importance of an end-to-end integrated solution capable of protecting employees and customers to facilitate a safe economic recovery. In partnership with Empower's rapid testing technology, Loop has established a comprehensive solution capable of establishing a travel bubble and reopening a significant portion of the global economy."

AIR CANADA ADVOCATES FOR TEST-BASED APPROACH AND DROPPING 14-DAY MANDATORY QUARANTINE

The Travel Bubble solution comes at a time when both major industry participants and economic experts are calling for solutions beyond quarantining to re-open industries and stave off economic collapse.

On October 6th, Air Canada (AC:TSX) (ACDVF:OTCQX) called for increased testing in lieu of mandatory quarantine periods,

"We believe that a test-based strategy may be a safe alternative to the 14-day quarantine"

On October 15, 2020 a panel of Canadian economists proclaimed the "economy must remain open despite second wave" or suffer the very likely outcome of bankruptcies and business closures "with hospitality, travel and tourism set for the harshest impact."

By providing testing, tracking, and real-time reporting, Loop and Empower have created a safe and secure Travel Bubble solution to allow enterprise level businesses to return to full operations, particularly those in the hospitality, travel, and live entertainment industries.

$3.3 TRILLION IN LOSSES FOR GLOBAL TOURISM INDUSTRY

Without a solution to replace the drastic travel measures currently in place around the world, the United Nations Conference on Trade and Development (UNCTAD) reported that COVID-19 may cost the world tourism sector losses of US$ 3.3 trillion.

In Canada alone, according to Statista, the Canadian tourism industry contributed close to $40 billion to the economy in 2019. This year, the COVID-19 pandemic has had devastating consequences for the industry.

Empower and Loop believe the Travel Bubble combination of frequent testing and a robust international tracing platform provides the end-to-end protection necessary to spark a strong global economic recovery.

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

About Loop Insights

Loop Insights Inc. is a Vancouver-based Internet of Things ("IoT") technology company that delivers transformative artificial intelligence ("AI") automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop's products and services are backed by Amazon's Partner Network and sold through the TELUS IoT Marketplace.

ABOUT EMPOWER:

Empower is creating a network of physicians and practitioners who integrate to serve patient needs, in-clinic, through telemedicine, and with decentralized mobile delivery. A simplified, streamlined care model bringing key attributes of the healthcare supply chain together, always focused on patient experience. The Company provides COVID-19 testing services to consumers and businesses as part of a four-phased nationwide testing initiative. Empower recently acquired Kai Medical Laboratory, LLC as a wholly-owned subsidiary with large-scale testing capability.

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuley
Chief Executive Officer

CONTACTS:

Investors:
Dustin Klein
Director
dustin@svmmjcc.com
720-352-1398

Investors:
Steven McAuley
CEO
s.mcauley@empowerclinics.com
604-789-2146

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; the anticipated date of closing of the acquisition and the occurrence thereof; 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 the Kai Medical Laboratory acquisition may not be completed on the terms expected or at all; 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 affect on the Company's business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; 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.

View source version on accesswire.com:
https://www.accesswire.com/611048/Empower-Clinics-and-Loop-Insights-Combine-COVID-19-Testing-Expertise-With-Venue-Tracing-To-Create-First-Ever-Travel-Bubble-Solution-For-Global-Travel-Industry-Set-To-Lose-33-Trillion

FAQ

What is the significance of the Empower Clinics and Loop Insights partnership?

The partnership aims to create a comprehensive COVID-19 mitigation solution, incorporating rapid testing and venue tracing to facilitate safer travel.

How does Empower Clinics' testing capacity impact the travel industry?

Empower's KAI Medical Laboratory can process 4,000 tests daily, providing rapid results that support the reopening of travel and tourism sectors.

What are the projected losses for the global tourism industry due to COVID-19?

The global tourism sector is projected to face losses of up to $3.3 trillion as a result of the pandemic.

What role does rapid testing play in the Travel Bubble solution?

Rapid testing, providing results in 15 minutes, is crucial for ensuring safety and helping to reopen travel while minimizing quarantine requirements.

When did Air Canada advocate for a testing-based strategy instead of quarantine?

Air Canada called for increased testing as a safe alternative to the 14-day quarantine on October 6, 2020.