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Summary
- Empower Clinics Inc (CSE:CBDT, EPWCF:US) announced on Tuesday, May 12, that it has signed a COVID-19 testing referral agreement with a major Canadian airline.
- The airline is expected to refer its flyers to Empower Clinics’ subsidiary Kai Care for expedited COVID testing.
- As per the agreement, Empower Clinics will provide the unnamed airline’s passengers access to Kai Medical Laboratory’s RT-PCR at-home saliva test kits.
Empower Clinics Inc (CSE:CBDT, EPWCF:US) announced on Tuesday, May 12, that it has signed a COVID-19 testing referral agreement with a major Canadian airline. While the airline’s name has not been revealed, it is expected to refer its flyers to Empower Clinics’ subsidiary Kai Care for expedited COVID testing.
As per the agreement, Empower Clinics will provide the unnamed airline’s passengers access to Kai Medical Laboratory’s RT-PCR at-home saliva test kits. These COVID-19 test kits reportedly do not require to be looked at by a health professional.
Kai Care, which Empower Clinics acquired in October last year, delivers its test kits via overnight speed courier across Canada, the US and Mexico. CEO and Chairperson Steven McAuley said that the company plans to expedite their COVID-19 saliva tests by adding more distribution partners across the country.
Empower Clinics Inc (CSE:CBDT) Stock Performance
Empower Clinics operates through its medical diagnostics labs and telemedicine. The C$ 177-million market cap company currently posts a stock price of C$ 0.64 apiece (11.06AM EST).
In the light of its essential services, the healthcare stock has posted an 866.66 per cent surge in the last six months.
Empower Clinics stocks surged 625 per cent in the past one year and zoomed 103.5 per cent in 2021. However, it has declined by 78.6 per cent against its 52-week high of C$ 2.5 apiece (February 22, 2021).
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Empower Clinics stock has yielded an extraordinary growth of 3,460 per cent as compared to its 52-week low of C$ 0.03 apiece (September 24, 2020). The scrip also notes a significant three-digit return on equity rise of 225.05 per cent, as per TMX.
Empower Clinics’ Kia Care received repeated 5,000 orders of self-testing Saliva-based COVID-19 test kits from the film and TV industry on April 14. This transaction added almost C$ 750,000 to its revenue.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
