- Empower Clinics (CSE:CBDT) has reported a 480 per cent increase in patient visits during the second half of April, 2020
- The company operates a telemedicine consultation service to address immune system requirements
- Since the outbreak of COVID-19 and the implementation of “stay at home” policies, telemedicine has skyrocketed in popularity
- The company has also finalised its private placement for proceeds of C$635,000
- Empower Clinics (CBDT) is currently up 16.67 per cent to 7 cents per share
Empower Clinics (CSECBDT) has reported a 480 per cent increase in patient visits during the second half of April, 2020.
The health and wellness company operates a portfolio of physician-staffed centres, with a focus on innovative treatment options. Empower Clinics also has a hemp-derived CBD extraction facility under development. The company expects to produce its own line of CBD-based products for the US market.
Since the outbreak of COVID-19, there have been worldwide implementations of stay-at-home and social distancing policies. As a result, the concept of telemedicine has erupted in popularity.
The technology enables patients to book and attend consultations with licensed doctors, without having to set foot outdoors. This offers a convenient workaround for those needing medical assistance.
Empower Clinics’ telemedicine service has seen a 480 per cent increase in patient visits in the last two weeks.
Dustin Klein, Director and Senior Vice President of Business Development at Empower Clinics, said that the new telemedicine platform is extremely robust, with the ability to provide a variety of modalities to patients.
“We are focusing on helping patients to boost their immune systems, and reduce stress and anxiety that may arise with isolation and social distancing,” he added.
Empower’s network of physicians will also be able to dispense over 250 different supplements. They will do so via a new Sun Valley Health online supplement store.
Empower Clinics’ increased business has been further solidified by the completion of its previously announced private placement.
A total of 16,325,000 units were issued at 4 cents each, for gross proceeds of $653,000. The company said that it will use the funds for general working capital and corporate expenses.
Empower’s CEO, Steven McAuley, said that securing additional capital will offer greater flexibility in supporting company staff and patients.
“We are hiring physicians and administrative staff right now to meet patient demand. We are also adding technology resources to ensure our new services are available nationwide,” he concluded.
Empower Clinics (CBDT) is currently up 16.67 per cent to 7 cents per share at 12:03pm EST.