Turning to medical cannabis for pain, stress, and sleep (Video)
Empower Clinics Inc. (CSE: EPW) (OTC: EPWCF) (FRA:8EC) is a leading owner and operator of medical cannabis and wellness clinics, as well as a developer of medical products in the U.S., focused on enabling individuals to improve and protect their health. The company provides treatment solutions through its physician-staffed clinics that are focused on education, data, and efficacy. Empower is a recognized leader and the first choice for patients seeking quality experience and improved health.
Hannah Bernard: Hi, I’m Hannah Bernard. You’re watching Market One Minute and today I’m joined by Craig Snyder of Empower Clinics. What role will Empower Clinics play in the U.S. with regards to medical cannabis?
Craig Snyder: Well, we host a series of medical clinics and wellness centers, currently in three states, 15 clinics. The key role for us is dealing with patients that are dealing with three of the most common conditions that Americans are dealing with today. That’s pain, stress, and sleep. We have medical doctors staffed for those patients to be able to meet with them.
Hannah Bernard: You have a unique product set. How are you aiming to help with the broadest qualifying conditions with regards to the three: pain, sleep, and stress?
Craig Snyder: Okay. Yes, we do have a product line named Sollievo. That is our branded line. It means calm in Italian. We do have two sets of products under that brand line. One is a THC set of products. The other is a CBD set of products. The products are manufactured and tailored to deal and help people deal with those three most common things we mentioned before, pain, sleep, and stress.
Hannah Bernard: What role will education and technology play for you as a company in dealing with patients?
Craig Snyder: I think that education is key. In many cases, there aren’t a large group of doctors out there today that can educate the public on medicinal cannabis. Our doctors have on average eight years of experience. We’re dealing with tens of thousands of patients every year. So, they have a lot of experience dealing with the qualifying conditions and also providing the education around efficacy and dosage to help people feel better. The technology side is key because technology allows us to track the patients — what they’re particularly taking and how effective or the efficacy of what’s being recommended for them to help them feel better.
Hannah Bernard: You expanded a little bit on education, but there’s so many cannabis companies popping up now. What makes you a leader in this space with regards to education?
Craig Snyder: I think, one, it’s the number of people we see. We’ll probably see 25,000 people in this next year. We’ve seen over 120,000 in our history. So, the breadth and depth of experience of our doctors and education, the breadth and depth of the qualifying conditions that we see, those help us be one of the leaders in this space.
Hannah Bernard: Now, what are some of the expansion and growth plans for Empower and Sollievo?
Craig Snyder: For us, we’d like to have a national clinic group. We’re currently in three states but we have plans to shortly be in probably double that, six to eight states by the end of the year. For Sollievo, from a CBD perspective, we expect that to be national and international very shortly. With THC, we’re currently operating in two states and expect to expand that rapidly to the 30 states where we can have a processing and distribution agreement in those states.
Hannah Bernard: We have an investor audience here. Tell us why Empower Clinics is a good investment opportunity.
Craig Snyder: I think the key things in the investment opportunity is obviously the growth, the fact that there are many things going on in the United States, from PTSD to the opioid crisis, where we’re going to play a major role at scale. I think people are beginning to look at medicinal cannabis as an alternative to some of the pharmaceutical products that are out there today without some of the same side effects that they experience from those. That’s going to start to disintermediate that space and be a very big growth opportunity for us.
Hannah Bernard: Well, it sounds like some exciting news flow coming from you guys. Thank you so much for being with us, Craig.
Craig Snyder: Thank you for having me.