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Empower Clinics unveils three new integrated health centre locations in Ontario with major revenue expectations

Published: 09:08 25 Feb 2021 EST

Empower Clinics Inc visual representation
As it continues to expand into the Canadian market, the company plans to add additional specialized medical services, including dermatology and cardiology

Empower Clinics Inc (CSE:CBDT) (FRA:8EC) (OTCQB:EPWCF) announced the launch of its first three integrated health centres in Ontario on Thursday, with each location expected to generate C$2.5 million to C$3.6 million in annual revenue. 

The three facilities are located in Etobicoke (~2,700 sq ft, ~2,900 sq ft) and London (~3,100 sq ft). Each location is expected to host four-six physicians, the company said, and Empower has already secured commitments from 12 physicians to date. 

"Dr. Aviv Tsimmerman and Dr. Jordan Rabinowitz are executing on our growth initiatives, they are achieving milestones, they are opening our healthcare centers." CEO Steven McAuley said in a statement. "Our approach is based on patients and their needs, the delivery of care, [and] an improved healthcare model that provides advanced technology and access for an improved healthcare outcome." 

READ: Empower Clinics' KAI Medical Laboratory accurately detects UK, South African coronavirus variants with PCR tests

Advanced discussions are currently underway on multiple additional locations as the company begins the rollout of its national clinic expansion strategy, and numerous additional medical doctors and paramedical practitioners have expressed interest in joining the team, the company said.

"Having a strategic blend of health professionals allows us to provide an unparalleled integrative healthcare experience." Rabinowitz, Empower’s COO, said. "This defines our path to assist millions of Canadians nationwide."

Empower plans to open primary care facilities and paramedical healthcare services, with the goal of bringing four to six medical doctors and four to six paramedical practitioners per location. Primary care services include family physicians, walk-in physicians and telemedicine/virtual care, the company said. Paramedical services include chiropractic care, physiotherapy, registered massage therapy, chiropody, acupuncturists, osteopaths and nutritionists

Empower expects to generate between $400,000 and $600,000 in annual revenue per medical doctor, per primary care facility, which equates to between C$1.6 million and C$2.4 million annually per location.

For the paramedical centers, the company projects C$960,000 to C$1.2 million in annual revenue per location. All told, that totals between C$2.5 million to C$3.6 million in annual revenue per location.

As it continues to expand into the Canadian market, the company plans to add additional specialized medical services, including dermatology and cardiology. Empower is currently in advanced discussions with potential partners in each, the company said.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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