vertically integrated CBD life sciences company and a multi-state operator of medical health & wellness clinics
With a patient count of 165,000
Empower Clinics Inc Profile
Why Empower Clinics
- A leading owner/operator of physician staffed health and pain management clinics.
- Patient database of over 165,000 patients
- Platform generating $1.4M USD (9 months ending Sept. 30, 2019)
- Proprietary technology platforms including Electronic Health Records portal and e-Commerce for CBD product distribution
- Recently launched CBD extraction facility
- First extraction system capacity = 6,000 Kg per year.
- CBD based products are poised to be a $20B global industry by 2022
- Medical cannabis is poised to be a $100B global industry by 2025
Q3 2019 Highlights
- 5,807 patient visits generated revenue of $663,003, compared to 1,864 patient visits that generated $279,850 for Q3 2018.
- Strategic redirection:
- Re-positioning its overall strategy to become a vertically integrated health and wellness brand that connects to its 165,000 patients using a data driven focus to improve patients' lives with products, technology and health systems.
- Strategic Development:
- Company has opened its first hemp-derived CBD extraction facility in greater Portland, Oregon with the first extraction system expected to have the capacity to produce 6,000 kg of extracted product per year.
- Took possession of the new extraction facility June 1st, 2019 and has been awarded it's hemp-handlers licence from the Oregon Department of Agriculture, allowing the Company to enter the next phase of build-out and full operations in 2019.
- Company expects preliminary production of its Sollievo CBD line to take place in the extraction center in 4Q 2019.
- Strategic Partnership:
- Entered into a Letter of Intent to form a Joint Venture Partnership with Heritage Cannabis Holdings Corp (CSE: CANN)
- Terms of the LOI have Empower and Heritage each with a 50% ownership of the JV.
- Heritage will install extraction units and related downstream extraction equipment inside Empower's existing licenced hemp processing facility in Sandy, Oregon.
- Once operational, the JV will begin producing proprietary branded products for Empower's clinics and third party partners for distribution in the United States.
According to the Brightﬁeld Group report the CBD market in the U.S. has grown over 700% in 2019
- The CBD industry is becoming much more saturated than it was before the passing of the U.S. Farm Bill late last year, with new products entering the market, threatening to take a slice of the CBD pie that the early producers of CBD have enjoyed until this time.
- Nevertheless, the top 20 CBD companies still hold a majority of the even bigger pie that is CBD in the cannabis industry.
Developed proprietary software to manage patients through the medical cannabis process
- A HIPAA compliant Electronic Health Record (EHR) system and patient management portal.
- Tele-medicine platform to serve and treat patients remotely.
- Launching an e-Commerce platform for it’s Sollievo and Sun Valley CBD product lines.
- Commenced selling its proprietary line of CBD-based products called SOLLIEVO
- Empower's patient base and customers are expected to benefit from access to high margin derivative products, including CBD lotion, tinctures, spectrum oils, capsules, lozenges, patches, e-drinks, topical lotions, gel caps, hemp extract drops and pet elixir hemp extract drops.
- Patients and customers will be able to access Empower's home delivery and e-commerce platform.
- Opening first CBD Extraction facility in Portland, OR.
- 5,000 sq. ft. leased building with first extraction system capable of producing 20kg per day of 99% spectrum oil, isolate or distillate
- Current wholesale pricing is $6,500 USD per kg with annual capacity of 6,000kg an estimated $39MM USD revenue.
- Facility can scale to four extraction systems for up to 24,000kg of product and over $150MM USD revenue
- Completed it's 2019 Franchise Disclosure Document (FDD) and has commenced selling Sun Valley Health franchises in the United States.
- Company is now selling Sun Valley Health franchises and is accepting franchise applications effectively immediately.
- Invested in the development of a new franchise trade show booth that showcases the Sun Valley Health opportunity to perspective franchisees using dynamic, content rich displays and four large format television monitors to present features and benefits.
Last changed at 19-Nov-2019 10:18AM by AGORACOM