Kai Medical Laboratory, a state-of-the-art diagnostics laboratory in Dallas, TX was acquired by Empower Clinics on October 6, 2020 to further advance the Company’s COVID-19 national testing programs, science and R&D, is now tripling in size.
- Each of January and February 2021 recorded record months for specimen collection, with February delivering sequential growth of 27% over January 2021.
- Exceeded a single day specimen processing of 1,000 + units in February.
- As a result of record months year to date 2021, the KAI LAB annual revenue run rate is now exceeding $10,000,000 with meaningful positive cash flow.
VANCOUVER, BC / ACCESSWIRE / March 8, 2021 / EMPOWER CLINICS INC. (CBDT:CSE) (EPWCF:OTCQB) (8EC:Frankfurt) (“Empower” or the “Company“) an integrated healthcare company – serving patients through medical centers, telemedicine platforms and a high complexity medical diagnostics laboratory processing thousands of COVID-19 specimens is pleased to announce our KAI Medical Laboratory (“KAI LAB”) has achieved the following significant milestones:
1. Each of January and February 2021 recorded record months for specimen collection, with February delivering sequential growth of 27% over January 2021.
2. Exceeded a single day specimen processing of 1,000 + units in February.
3. As a result of record months year to date 2021, the KAI LAB annual revenue run rate is now exceeding $10,000,000 with meaningful positive cash flow.
Finally, the successful launch of our KAI Saliva PCR Test (“KAI Saliva”) generated an initial soft launch of 5,000 units, leading to the order of 25,000 additional units with a sales value of approximately $5,500,000 on January 7, 2021. Empower now anticipates placing an order for 50,000 additional KAI Saliva units with a retail sales value of approximately $11,000,000 to build inventory sufficient to meet current demand in both the United States and Canada.
KAI MEDICAL LABORATORY NOW EXPANDING TO TRIPLE CURRENT SIZE IN ANTICIPATION OF ANTICIPATED GROWTH
KAI Medical Laboratory, a state-of-the-art diagnostics laboratory in Dallas, TX was acquired by Empower Clinics on October 6, 2020 to further advance the Company’s COVID-19 national testing programs for enterprise clients, including movie and television studios, businesses and the travel industry. KAI LAB experienced significant growth in its first quarter under Empower (October 2020 – December 2020), with Q4 COVID-19 test units exceeding 6,000, far surpassing the 1,300 total units prior to acquisition.
As a result, on January 21st, Empower announced “Doubling KAI Medical Laboratory In Anticipation Of Test Volumes By End Of Q1.” The Company then revised this planned expansion upwards on February 16th when it announced “KAI Laboratory Now Tripling in Size in Anticipation of Test Volumes by End of Q1.”
Expansion work is commencing in March 2021 to enable KAI LAB to hire additional staff across a wide array of roles, all to improve operational efficiency and to meet anticipated demand over the coming weeks and quarters.
“Kai Medical Laboratory with the leadership of Yoshi Tyler have surpassed our initial growth forecasts, have demonstrated disciplined work ethic, a focus on science with a passion for operational excellence.” said Steven McAuley, Chairman and CEO of Empower “Kai Medical is developing into a national brand with the potential to positively impact healthcare outcomes by providing access to numerous testing protocols that go beyond COVID-19 in the future.”
For the purposes of facilitating the expansion, Empower has already secured additional space next door to KAI LABS in order to separate the lab & science from logistics, admin and customer support. Materials handling staff is being added to process the intake of thousands of packages per day.
This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management https://agoracom.com/ir/EmpowerClinics
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