Empower Clinics Subsidiary Wins Laboratory Services Agreement with European Medical Products Manufacturer

Rhea-AI Summary

Empower Clinics Inc (CSE:EPW)(OTCQB:EPWCF) has announced a laboratory services agreement between its subsidiary, MediSure Laboratory, and Alp MedTech AG. This collaboration aims to support Alp MedTech in conducting clinical studies necessary for U.S. FDA 510K approvals of Atlas Medical GmbH's devices. The agreement follows a strategic partnership formed in December 2022, expected to enhance Empower’s revenue and facilitate the introduction of new medical devices into the U.S. market, leveraging Dallas's position as a key healthcare hub.

Positive

• Laboratory services agreement with Alp MedTech AG expected to generate new revenue.
• Accelerates entry of new medical devices and tests into the U.S. market.
• Partnership enhances Empower's position in the healthcare sector.

Negative

• None.

MediSure Laboratory to offer clinical study services for client expansion to US market

VANCOUVER, BC / ACCESSWIRE / January 10, 2023 / EMPOWER CLINICS INC (CSE:EPW)(OTCQB:EPWCF) ("Empower" or the "Company") an integrated healthcare company - serving patients through medical centers, a medical device company and a high complexity medical diagnostics laboratory - today announced that MediSure Laboratory signed a laboratory services agreement with Alp MedTech AG ("ALP"), the authorized representative of Atlas Medical Gmbh ("Atlas").

This agreement follows the partnership announced on December 19th between Empower and ALP - the authorized representative of Atlas, a European medical device company specializing in the distribution and manufacturing of invitro diagnostic tests and medical devices. Atlas was founded in 1996 as a manufacturer and supplier of quality Diagnostic Reagents and kits. With a presence in more than 80 countries worldwide, their product range comprises a comprehensive list of quality diagnostic products in the fields of serology, hematology, microbiology, immunology, histopathology, and biochemistry.

Empower anticipates it will generate new accretive service revenue from the provision of ongoing clinical study services. This also accelerates the introduction of new medical devices and test products for distribution by Empower into the US market.

"This is another accretive deal with a focus on the US market that follows the announcement of a strategic partnership agreement signed last month", stated Steven McAuley, Chairman and CEO of Empower Clinics "ALP clearly sees the value of MediSure Labs to help them perform the clinical studies in Dallas that are required for US government Food and Drug Administration 510K approvals for the sale of Atlas equipment in the US market. With Dallas as a major healthcare hub in the US, MediSure Lab has both the medical equipment, expertise, and the network of health professionals to help ALP and Atlas to enter the US market efficiently and rapidly.

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 with multi-disciplinary clinics, an at-home medical testing device company and state-of-the-art medical diagnostics laboratories. With a growing presence in the U.S. and Canada. Empower is a leader in integrated healthcare and diagnostics solutions and is reshaping the model for patient-first wellness.

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuley
Chief Executive Officer

CONTACTS:

Media:

Steven McAuley CEO
s.mcauley@empowerclinics.com
+1 855-855-9058

Investors:

Tamara Mason

Business Development & Communications
t.mason@empowerclinics.com
+1 855-855-9058

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 statements regarding it will generate new accretive service revenue from the provision of ongoing clinical study services, plus it accelerates bringing to U.S. markets new medical devices and test products for distribution by Empower. Such 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: risks related to supply chains and access to labour; 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 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 on the terms or in the time expected, or at all, 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 securities laws.

SOURCE: Empower Clinics Inc.

View source version on accesswire.com:
https://www.accesswire.com/734643/Empower-Clinics-Subsidiary-Wins-Laboratory-Services-Agreement-with-European-Medical-Products-Manufacturer

FAQ

What is the recent partnership between Empower Clinics and Alp MedTech AG?

Empower Clinics has signed a laboratory services agreement with Alp MedTech AG to support clinical studies for U.S. FDA 510K approvals.

How will the agreement with Alp MedTech impact Empower's revenue?

The agreement is expected to create new accretive service revenue for Empower Clinics through ongoing clinical study services.

What is the significance of Dallas in Empower's business strategy?

Dallas serves as a major healthcare hub, providing MediSure Lab the necessary resources for efficient entry into the U.S. market.

When was the partnership with Alp MedTech AG announced?

The partnership was announced in December 2022, prior to the recent laboratory services agreement.

How does the agreement support the introduction of new medical products?

The agreement facilitates the clinical studies required for FDA approvals, enabling the distribution of new medical devices in the U.S.