Empower Clinics (CBDT:CSE) Acquires Testing Lab And Lands First COVID-19 Testing Contract For Major Film & TV Studio

Sometimes, you just have to let the numbers speak for themselves. With 165,000 patients, Empower Clinics (CBDT:CSE) (EPWCF:OTCQB) has a database that almost every medical cannabis and CBD company would kill for … but then these numbers came in for the first two quarters:

Revenues $USD 1.7M vs $745,000 = 130% Gain

Patient Visits 12,400 vs 5,500 = 125% Gain

CBDT has now delivered growth in 4 successive financial reports (Q4, FY 2019, Q1 and Q2), so it is safe to say that superstar CEO Steve McAuley can officially claim victory on the turnaround he inherited in 2019.

But he is far from done.

In the last 36 hours, Empower announced:

1. The acquisition of an 8,000 sq ft lab in Dallas (they do everything big over there) that can process 4,000 COVID-19 tests per day. At the lowest price of $USD 80 per test and operating on just 1,000 tests per day, the clinic would deliver $USD 80,000 in revenue PER DAY. We will let you do the math with the combination of higher prices + more tests per day.

2. An agreement to run 1,000 COVID-19 RT-PCR Tests for a major film & TV studio, which could lead to much more business if all goes well with this first batch. To this end, the lab has already processed tests for six different film and television productions since September 1st (prior to the acquisition) and continues to build both confidence and credibility within the industry.

It doesn’t take much to see that the lab has the potential to take Empower to a whole new level. Specifically, if you’re an investor in Well Health (WELL:TSX) and/or CloudMD (DOC:TSXV) you have to start taking a serious look at Empower as the next great potential health and wellness company. It’s already proven solid revenues and growth from its clinics, is expanding its telemedicine practice very nicely and now has the power to quickly generate significant enterprise level revenues from its newly acquired medical diagnostics laboratory … which is already bearing fruit just 24 hours after the acquisition.

Can McAuley pull it off? First consider what he has already accomplished after inheriting a catastrophe of a company in early 2019. Secondly, McAuley is Six Sigma certified under the quality initiative of legendary GE (General Electric) Chairman Jack Welch. We’ve never seen a Six Sigma certified CEO in the Canadian small cap markets. Never …. which explains how McAuley has been able to guide Empower Clinics through the most disruptive retail environment in recent history and turn it into significant growth through Q2 2020 … with some jet fuel now added here in Q4.

And if you MISSED Well Health and CloudMD, you really need to take a close look at Empower as the next great small cap health & wellness company.

Watch this interview or listen by Podcast on Apple, Google, Spotify or your favourite podcaster.