Empower Clinics Inc. announced that, pursuant to the regards to a subscription interest purchase agreement dated April 30, 2019, it has completed the acquisition of Sun Valley Certification Clinics Holdings from Andrea and Dustin Klein and a minority investor through its wholly-owned subsidiary Empower Health care Assets Inc. for cash and share consideration having an aggregate worth of $3,835,000.
Sun Valley operates a network of expert medical marijuana and pain management practices, with five centers in Arizona, one center in Nevada, a tele-medicine platform serving California, and a completely established franchise company design for the domestic marijuana industry.
Over the past five years, Dustin and Andrea have actually developed among the most respectable and orderly center networks in Arizona, establishing a patient list of more than 45,000 unique clients, and have performed over 61,000 certifications to date. Sun Valley supports its clients with a vibrant dedicated group including 52 personnel, including 30 doctors.
” The acquisition of the Sun Valley clinic group has basically altered the direction and development prospects for Empower,” stated Steven McAuley, Empower’s Chairman & & CEO. “Having Dustin and Andrea Klein join me in leadership to rapidly expand Empower’s center and circulation network across the United States is a major action towards our enthusiastic goals.”
The Deal is expected to produce one of the biggest clinic groups in the medical marijuana sector in the United States, which, together with Empower’s existing medical marijuana clinics, will broaden Empower’s multi-state operations to a combined client count of 165,000 clients throughout Washington, Oregon, Illinois, Arizona, Nevada and California, and the prospective to quickly broaden the clinic network through the Sun Valley franchise program.
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