Empower Clinics Inc (CSE:CBDT) (OTCQB:EPWCF) said Tuesday that it hit a new record of patient visits and revenue per patient in July as the firm's coronavirus (COVID-19) testing capabilities added to revenue diversification.
Patient volume at Empower’s network of clinics across the US hit 2,317, while its revenue per patient increased by 29%, the company said in a release.
The Vancouver-based company said it saw diversified sources of revenue, with medical cannabis certifications, naturopathic consultations, and COVID-19 testing services comprising much of the sales throughout the month.
Empower CEO Steven McAuley told shareholders that the firm is executing on its plan to diversify its sources of revenue going forward.
"Diversification of revenue sources utilizing the strength of our clinic, physician, technology and operational assets has been a mission of ours," McAuley said in the statement.
"To see our team deliver record performance in such a challenging environment, validates our execution strategy, validates the daily commitment of our team members and demonstrates we are on the right path to delivering significant shareholder value."
Empower also updated shareholders on reopening plans in Arizona, where the firm operates a network of wellness clinics.
The Arizona Department of Health Services (ADHS) announced its phased reopening plan for paused industries, indicating that community spread remains “substantial” based on three main metrics: cases per 100,000 individuals, percent positivity and hospital visits for COVID-like illnesses. Currently, businesses like bars, nightclubs and gyms in the state remain closed. The ADHS will review the metrics again in 14 days.
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