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 colleges
VANCOUVER BC / ACCESSWIRE / November 19, 2020 / EMPOWER CLINICS INC. (CSE:CBDT)(Frankfurt:8EC)(OTCQB:EPWCF) ('Empower' or the 'Company') an integrated healthcare company serving a database of 165,000 patients through clinics in the southwest United States, a telemedicine platform and medical diagnostics laboratory, is pleased to announce that Kai Medical Laboratory ('KAI') will be introducing its new KAI ABC RT-PCR test protocol to differentiate between Influenza A/B and COVID-19 ('ABC'), which will be vital in the diagnosis and treatment of respiratory pathogens.
The new KAI ABC RT-PCR test protocol is expected to be ready for the market in the first week of December, in time for the most recent 9,000 unit, $1,000,000 order for a film & television production.
Empower Clinics Chairman and CEO, Steven McAuley, stated 'Kai Medical Laboratory with its team of scientists and lab experts are opening new channels of expansion for Empower in research and diagnostics, enabling the company to access dramatically larger national and international markets for healthcare products. We have a number of exciting developments coming that expand and diversify our reach both through the lab and within our clinic layer that have direct access to patients'
MULTIPLE BENEFITS OF KAI ABC RT-PCR RANGE FROM EARLY AND CORRECT DIAGNOISIS TO PACKAGED COST SAVINGS
COVID-19 and influenza viruses have a similar disease presentation. They both cause respiratory disease, which presents as a wide range of illness from asymptomatic or mild through to severe disease and death. As such, the benefits of this KAI ABC RT-PCR test protocol being able to differentiate between the Flu and COVID-19 are invaluable as follows:
First, it is vital in the diagnosis and treatment of respiratory pathogens. As most COVID-19 testing now primarily focuses on COVID-19 only, diagnosing the difference between the two will be crucial to treatment, health outcomes, and overall health of the population. Specifically, differentiating the pathogens will help medical professionals quickly diagnose and treat more efficiently & efficaciously.
Second, it is a vital tool in helping slow down the spread of COVID-19. Specifically, the speed of transmission is an important point of difference between the two viruses. Influenza has a shorter median incubation period (the time from infection to appearance of symptoms) than COVID-19. Transmission in the first 3-5 days of illness is a major driver for the spread of viral infections. This makes COVID-19 extremely difficult to contain. This is why testing to differentiate the viral infections becomes critical to 'slowing the spread.'
Finally, affordability and efficiency. Though the overall cost of an ABC RT-PCR test is approximately 15% to 25% more expensive than an RT-PCR test, providing analysis on all three viruses is significantly cheaper and more affordable than testing for them separately. Moreover, from an efficiency point of view, simultaneously confirming a patient has the flu and does not have COVID-19 from the same collected specimen, allows them, their families and work colleagues to return to a normal life much faster.
BENEFITS TO EMPOWER CLINICS
From a business development point of view, Empower has a high degree of confidence the multiple benefits listed above will translate into significant new business, as evidenced already by the transition of the Company's recent $1,000,000 test order by a film & tv production from RT-PCR to the new KAI ABC RT-PCR protocol.
'From an R&D perspective, Kai Medical Laboratory is focused on the future and new innovative quality testing to better understand the epidemiology and contagion containment that we have all experienced during this pandemic.' said Yoshi Tyler, President Kai Medical Laboratory. She further states 'Kai Medical will continue to be at the forefront of science and innovative quality care by providing value added services, accuracy, and consistency. As such, we believe this will be the first of many successful R&D product announcements in the near future.'
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
Empower is creating a network of physicians and practitioners who integrate to serve patient needs, in-clinic, through telemedicine, and with decentralized mobile delivery. A simplified, streamlined care model bringing key attributes of the healthcare supply chain together, always focused on patient experience. The Company provides COVID-19 testing services to consumers and businesses as part of a four-phased nationwide testing initiative in the United States. Empower recently acquired Kai Medical Laboratory, LLC as a wholly owned subsidiary with large-scale testing capability.
ON BEHALF OF THE BOARD OF DIRECTORS:
Chief Executive Officer
Investors: Dustin Klein
Investors: Steven McAuley
DISCLAIMER FOR FORWARD-LOOKING STATEMENTS
This news release contains certain 'forward-looking statements' or 'forward-looking information' (collectively 'forward looking statements') within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as 'plans', 'continues', 'expects', 'projects', 'intends', 'believes', 'anticipates', 'estimates', 'may', 'will', 'potential', 'proposed' and other similar words, or information that certain events or conditions 'may' or 'will' occur. Forward-looking statements in this news release include, but are not limited to, statements regarding: the expected benefits to the Company and its shareholders as a result of the acquisition of Kai Medical Laboratory; the fact that Kai Medical Laboratory will complete the development of ABC RT-PCR test; the development of new accounts using the new test; the transaction terms; the expected number of clinics and patients following the closing; the future potential success of Kai Medical Laboratory, Sun Valley's franchise model; the anticipated date of closing of the acquisition and the occurrence thereof; and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2020 and beyond. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the Kai Medical Laboratory acquisition may not be completed on the terms expected or at all; that the Company's products may not work as expected; that the Company may not be able to expand COVID-19 testing; that legislative changes may have an adverse affect on the Company's business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed transaction; and other factors beyond the Company's control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.
SOURCE: Empower Clinics Inc.
View source version on accesswire.com: