Empower Clinics Inc. (CSE: CBDT) (OTCQB: EPWCF) is buying Medi + Sure Canada Inc. also called Medisure, a leading Canadian manufacturer of medical devices for patients managing diabetes in a deal valued at $3.5 million. Last year, Empower created a subsidiary company dedicated to the advancement of psilocybin research and patient care, addressing the significant mental health issues of anxiety, depression, post-traumatic stress disorder (PTSD), and addiction.
“This acquisition will provide an immediate impact on our footprint in Canada and bolster our direct-to-consumer testing products initiative while expanding the breadth of our overall service offerings on an accelerated basis. Moreover, consistent with the impact on our two recent acquisitions, the addition of Empower’s financial, marketing, and business development resources is expected to significantly expand the success of Medisure within the first year of operations both on the ground and online,” stated Steven McAuley, Chairman, and CEO of Empower Clinics. “In addition to their great products, MediSure also provides us with an immediate and experienced medical device manufacturing, fulfillment, and distribution point for all forms of testing products in Canada including Kai Care.”
MediSure is a Canadian-owned and operated manufacturer with over a decade of experience meeting the high cost needs of diabetic patients in an affordable and accessible manner. MediSure is a leader in the consumer-driven healthcare sector with a current presence in over 4,000 Canadian pharmacies, 50,000 end-users and unaudited twelve-month trailing revenues of C$1.9 million.
McAuley added “As I’ve stated to our shareholders on multiple occasions throughout 2021, Empower is in the strongest position it has ever been and will continue to grow every aspect of our business unabated and without interruption. In addition to this acquisition, in the last 30 days alone we have announced expansions of our clinics, gone live on our KAI Saliva RT-PCR test with Air Canada and are very advanced on tripling the size of the KAI Medical Laboratory facility. We are hitting on all cylinders and well on our way to becoming a major vertically integrated healthcare company. I fully expect Empower to have continued strong business announcements in June and throughout 2021