Empower Clinics and Pharmasave Enter Pilot Program to Supply Kai Testing to Independent Pharmacies
Empower Clinics has entered a Memorandum of Understanding with Pharmasave to launch a six-month pilot program for the distribution of Kai COVID-19 Testing Solutions across Canada. This initiative aims to enhance direct consumer access to testing through Pharmasave's network of over 800 independent pharmacies. Empower will provide various testing solutions, including Rapid Antigen and Saliva RT-PCR tests. The collaboration is expected to boost Empower's clinic expansion strategy while assessing business viability during the pilot.
- Partnership with Pharmasave expands distribution network for Kai Testing Solutions.
- Access to over 800 independent pharmacies enhances market presence.
- Potential for increased revenue opportunities through direct consumer sales.
- Aligns with Empower's national clinic expansion strategy.
- Pilot program duration of only six months may limit long-term impact assessment.
- Evaluation of costs and revenue opportunities could reveal unanticipated challenges.
The initial program will provide Kai COVID-19 Testing Solutions to hundreds of pharmacies across Canada
VANCOUVER, BC / ACCESSWIRE / August 24, 2021 / EMPOWER CLINICS INC. (CSE:CBDT)(FSE:8EC)(OTCQB:EPWCF) ("Empower" or the "Company") an integrated healthcare company - serving patients through medical centers, telemedicine platforms and a high complexity medical diagnostics laboratory processing thousands of COVID-19 specimens - has officially entered an Memorandum of Understanding ("MOU") for a six-month pilot program between Empower and Pharmasave for distribution and resale of Kai COVID-19 Testing Solutions. The products will include Rapid Antigen Testing, Rapid Antibody Testing and Kai Saliva RT-PCR tests.
"Tapping into Pharmasave's network is a huge step forward in our plan to provide Kai Testing solutions directly to consumers and further our national clinic expansion strategy," said Steven McAuley, Chairman and CEO of Empower Clinics. "With corporate pharmacy partners, PharmaChoice and now Pharmasave, we are seeing steady growth and momentum with a number of pharmacy groups from across North America."
With over 800 stores across the country, Pharmasave is one of Canada's leading independent pharmacy and drugstore retailers. Since being founded in 1981, Pharmasave has focused on building a national platform of community-based retail outlets designed to provide customers with exceptional service, products and advice. Each Pharmasave store operates independently to serve its individual community, which ensures both programs and services tailored to the needs of customers and a commitment to helping all customers. The company's local ties across numerous regions make it a great partner in providing direct consumer sales of Kai Testing Solutions. Empower hopes to build on this partnership through the national clinic expansion strategy and increase the quantity of services readily available to Canadians.
Under the MOU, Pharmasave and Empower agree to a six-month pilot program to allow both parties to evaluate the costs and revenue opportunities. It is the goal for this period to determine the final business model that will serve Pharmasave patients and their corporate accounts. Empower will provide Pharmasave with Health Canada Approved COVID-19 Testing Solutions (Rapid Antigen Testing, Rapid Antibody Testing and Kai Saliva RT-PCR tests), express shipping on all ordered units, and technical support.
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 EMPOWER:
Empower is an integrated healthcare company that provides body and mind wellness for patients through its clinics, with digital and telemedicine care, and world-class medical diagnostics laboratories. Supported by an experienced leadership team, Empower is aggressively growing its clinical and digital presence across North America. Our Health & Wellness and Diagnostics & Technology business units are positioned to positively impact the integrated health of our patients, while simultaneously providing long term value for our shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS:
Steven McAuley
Chief Executive Officer
CONTACTS:
Investors:
Steven McAuley
CEO
s.mcauley@empowerclinics.com
604-789-2146
Investors:
Tamara Mason
Business Development & Communications
t.mason@empowerclinics.com
416-671-5617
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; launch of new healthcare centers and the occurrence thereof; that the Company can bring healthcare to millions of Canadians; that new healthcare services can be added 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 Kai Medical Laboratory will successfully win any US Government RFP; that the MedX Health pilot program will be successful; that Empower will place the MedX Health teledermatology product in health centers in North America; 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 effect on the Company's business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; that the Company will be able to commence and/or complete build-outs and tenants improvements for Canadian clinics or Kai Medical Laboratory expansion inn 2Q 2021; that 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.
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https://www.accesswire.com/661028/Empower-Clinics-and-Pharmasave-Enter-Pilot-Program-to-Supply-Kai-Testing-to-Independent-Pharmacies
FAQ
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