Agreement demonstrates ability of newly acquired medical device subsidiary to advance diabetes management platform with pharmacy chains on a national scale.
VANCOUVER BC / ACCESSWIRE / October 4, 2021 / EMPOWER CLINICS INC. (CSE:CBDT)(OTCQB:EPWCF)(FRA:8EC) ("Empower" or the "Company") an integrated healthcare company serving patients through medical centers, telemedicine platforms, a medical device company, and a high complexity medical diagnostics laboratory processing COVID-19 specimens and developing a variety of direct to consumer testing protocols, is pleased to announce that its wholly-owned subsidiary Medi + Sure Canada Inc. ("MediSure") has entered into a Pilot Agreement ("Pilot") with Care Group of Pharmacies ("Care Group") to carry MediSure diabetes management medical devices in their pharmacies.
NEWLY ACQUIRED MEDISURE PLACES DIABETES MEDICAL DEVICES ON SHELVES OF ONE OF CANADA'S FASTEST GROWING PHARMACY GROUPS
Care Group is one of Canada's fastest growing pharmacy groups with numerous locations across six provinces. Its independent pharmacy model blends local healthcare operations with industry-leading resources that ensure best in quality patient services. MediSure is a leading Canadian provider of medical devices that manages diabetes. A trusted national brand focused on diabetes solutions, diabetes education and solutions that create positive outcomes for patients.
With the support of Empower, MediSure has entered into a pilot agreement with Care Group to add its diabetes products to their shelves, including best-in-class Blood Glucose Monitoring (BGM) products, test strips and other products that positively impact the daily lives of many Canadians.
"We only recently completed the acquisition of Medisure, and with additional resources and access to our pharmacy network, the MediSure team are securing new opportunities that provide immediate increased shelf-space, new orders and increased revenue." said Steven McAuley, Chairman and CEO of Empower Clinics. "This is just the beginning of how the MediSure brand will grow, how it will bring additional medical devices to market, utilizing more than a decade of regulatory experience to gain access to the U.S and other global markets going forward."
"I'm honoured to begin working with another proud Canadian company on one of the leading healthcare issues facing our country." states Mr. McAuley, "No Canadian should be without affordable, best-in-class products when it comes to managing diabetes. By working with Care Group, we are connecting sought-after diabetic management products with a robust network of independent pharmacists from coast to coast. This is only the beginning of what I expect to be a wonderful relationship focused on elevating the frontline care provided by Care Group pharmacists."
DETAILS OF 6-MONTH PILOT PROGRAM
The objective of this program is to provide diabetes management solutions to Care Group through their independent pharmacy platform for resale and distribution to their Independent Pharmacy Partners. To this end, the Parties will commence a six-month pilot program to evaluate costs and revenue opportunities to best determine the final business model that will serve Care Group patients and their corporate accounts. The Parties will evaluate the complete program with the objective to enter into a definitive agreement for a nationwide rollout.
Empower will provide Health Canada Approved MediSure Diabetes Management Solutions, express shipping on all ordered units and technical support. The resale and distribution of MediSure products includes, but is not limited to, Blood Glucose Monitoring, Test Strips and Lancing Devices.
MEDISURE ADDRESSES MARKET THAT IS IMPACTING 1 IN 4 CANADIANS … AND GETTING WORSE
1 in 4 Canadians suffer from pre-diabetes or type I and type II diabetes, resulting in a medical crisis that is not only failing to improve - but tragically worsening.
Between 2000 and 2016, the prevalence of Canadians living with diabetes increased by an average of 3.3% each year. According to Statistics Canada, on average, 549 Canadians are diagnosed with diabetes each day, and 11% of Canadian adults aged 20+ are currently living with diabetes. The rate of those diagnosed is expected to increase in the years to come alongside patient demands on the healthcare system as Canadians are living with diabetes longer. This demand begets the need for a range of affordable, high-quality diabetic management products.
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 CARE GROUP OF PHARMACIES:
Care Group of Pharmacies is Canada's largest group of independent pharmacies that are majority owned and controlled by Licensed Pharmacists. Care Group has a 14-year track record of integrity, innovation and respect for the profession of pharmacy.
ABOUT MEDISURE:
MediSure Canada is a wholly owned subsidiary of Empower Clinics. It is a Canadian medical device company dedicated to bringing value to the high cost of diabetes, both to patients and insurers. MediSure's products are designed and manufactured with safety and durability in mind, meeting all ISO standards with world-class quality controls. Equipped with features that lead the industry in technology, MediSure's products are designed to offer a user-friendly experience and an overall improved approach to diabetes management.
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; 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; that the company will have a successful pilot program with Care Group; that a definitive agreement will be completed. 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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