Empower Clinics (EPWCF) Partners with Fobi AI (FOBIF) to Offer Highest Technology Testing Solutions for COVID-19
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EMPOWER CLINICS INC. (OTC: EPWCF) is pleased to announce the Company has entered into a Service Agreement with Fobi AI Inc. (OTCQB: FOBIF) to integrate Fobi's artificial intelligence data applications and wallet pass platform into Empower's Kai Care COVID-19 Testing product.
Fobi Agreement Supports Empower's Goal of Becoming Leading Edge Health Care Provider and Innovator.
The Service agreement involves the integration of Fobi's Wallet pass platform into the Kai Care COVID-19 testing product and back-end lab management system, which will create a much more secure and seamless next level of digital customer experience for not only COVID-19 but for all other future testing applications, receiving results and providing verification of a negative COVID-19 test. As part of the Kai Care testing process, all customers will now have the ability to download a Kai Care Wallet pass directly into the native wallet that lives in all Apple & Android mobile phones. The Kai Care Pass will then be used for delivering test results direct to the mobile wallet in a safe and secure format. The new digital offering is very well timed given various international government mandates in regard to digital health passport requirements with proof of vaccinations and negative COVID-19 test requirements.
Empower To Leverage Fobi Ai Artificial Intelligence to Deliver Kai Care Clients Personalized Client Experience Which Provides Untapped New Line Revenue Opportunities.
The Kai Care Wallet pass can also be used by Empower as a new customer engagement channel. User adoption and retention of Wallet passes is much higher than normal mobile phone Apps, and campaigns for additional Kai Labs tests or relevant 3rd party products or services can be pushed out to their customers through banner ads on the front of the Wallet pass, links on the back of the Wallet pass, or through push notifications to customer mobile phone lock screens. The new integrated solution also has a very high level of data security, with Fobi's Wallet pass powered by Hedera Hashgraph. This new engagement channel also opens up significant new advertising and data monetization options for both Empower and Fobi. In particular, Empower can now use the Wallet pass to promote and monetize products such as their own new testing products, as well as other 3rd party products such as travel insurance, etc. Under the terms of the agreement, Fobi will receive revenue for each Wallet pass downloaded and Fobi and Empower will split the proceeds of any new advertising or data monetization revenue opportunities realized from this service agreement.
Empower CEO Steven McAuley stated: "Testing and vaccinations are becoming a pillar of everyday life as society continues its fight against COVID-19. I'm proud to deepen our relationship with Fobi and meet the massive demand for reliable, secure and easy COVID-19 testing results and verification sharing. By working together our companies are supporting a safe reopening for individuals, businesses, schools, and so much more."
This service agreement builds upon the relationship between Fobi (previously Loop Insights) and Empower that was announced in October 2020. Since then, Empower Clinics have released their own E-Commerce site and signed major distribution deals with several pharmacies and retail outlets across North America to stock Kai Care testing kits on their shelves. Empower are expecting additional distribution deals to be signed in the near future, which will increase the number of kits sold and customers worldwide, which bodes well for revenue projections for both Empower and Fobi.
A recent report from Grandview Research shows the COVID-19 Antigen Testing Market size will grow at a CAGR of 6.7% from 2021 and will reach USD $8.3 Billion by 2027. With Fobi's Wallet pass platform enabling an even more secure and seamless customer experience for COVID-19 testing and result verification, it is anticipated that Empower will increase their share of that market significantly.
Fobi CEO Rob Anson stated: "Powering the Kai Care Wallet pass and supporting Empower to leverage our artificial intelligence data applications clearly provides Empower Clinics and Kai Care with a clear product differentiator in the testing marketplace. There are other testing providers out there, but none of which offer real time results delivered directly to the wallet. The Kai Care Wallet pass solution will provide the means to deliver a new level of personalized client engagement, scheduling and messaging. This exciting new release also provides Empower and Fobi with the ability to generate significant additional revenue through the data and advertising monetization opportunities. We are very excited to continue our support of our strong partnership with Empower Clinics."
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
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