Empower Clinics Inc. (CSE: CBDT) shared this morning the completion of the expansion of its subsidiary Kai Medical Laboratory. The company previously announced that the expansion will see the lab’s total operation reportedly triple in size.
The expansion not only increased the laboratory’s capacity but also brought new services such as dried blood spot card-based testing, vitamine, and hormone testing. The facility also boosted its research and development efforts in collecting samples for pathological testing, including saliva and swab-based testing, respiratory pathogen panel, urinary tract, and sexually transmitted infections testing.
The company acquired Kai Medical Laboratory in October 2020. It was reported in March 2021 that the facility had an annual revenue run rate in excess of $10.0 million prior to the expansion.
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The formal launch of the newly expanded facility is expected to happen in the fall of this year.
Empower Clinics last traded at $0.46 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
