Empower Clinics inks six LOIs to sublet healthcare facilities with plans to offer primary care and paramedical services

Empower Clinics Inc (CSE:CBDT) (FRA:8EC) (OTCQB:EPWCF) has signed six letters of intent (LOIs) with open medical healthcare centers affiliated with Rexall/Pharma Plus Pharmacies Ltd, the second-largest pharmacy group in Canada, to sublet their facilities. 

The plan is to build and operate health care centers as part of the company’s national clinic expansion strategy. Services will include full primary care led by medical doctors, plus paramedical services with practitioners providing chiropractic care, physiotherapy, osteopathy, acupuncture and more, the company said. 

Beneficiaries of these services include the pharmacies’ large existing customer base, in addition to patients in the wider communities each location will serve, the company said. Utilizing Empower’s expertise in physician recruitment and clinic management, these clinics are estimated to serve thousands of patients per location once fully constructed, with four to six medical doctors and healthcare practitioners per location. 

READ: Empower Clinics to acquire Medi + Sure Canada in C$3.5M deal strengthening direct-to-consumer testing offering

“With estimated annual revenues of C$2 million to C$4 million per location, it’s not an understatement to call this a big acceleration of our game-changing growth strategy for both our patients and shareholders,” CEO Steven McAuley said. “Working with national pharmacy brands both in Canada and the US is proving to be the correct strategy, the correct plan, the correct path forward.”

The proposed clinic locations are as followed:

• Sudbury, Ontario (3,900 square ft)
• Ottawa, Ontario (1,500 square ft)
• Toronto, Ontario (1,800 square ft)
• Chatham, Ontario (2,500 square ft)
• Peterborough, Ontario (2,000 square ft)
• Catharines, Ontario (2,500 square ft)

Contact Andrew Kessel at [email protected]

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Story by ProactiveInvestors