VANCOUVER, British Columbia--(BUSINESS WIRE)--REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist” or the “Company”) (CSE: CALM) (CSNX: CALM.CN) is pleased to announce its clinic operations generated approximately $632,000 in revenue for the four months ended August 31, 2021, compared to $320,000 for the same period in 2020. The growth represents a 98% increase over prior year and is attributable to organic growth at its flagship clinic in Knoxville, TN, plus additional revenue from three new locations opened in Johnson City, TN, Louisville, KY, and Chattanooga, TN. Estimated gross margin on this level of sales is approximately $391,000 (1).
Mrs. Kathryn Walker, CEO, commented, “I am thrilled with the growth experienced at Revitalist to date. We expect to accelerate this momentum by increasing our clinic count to eight by December 31, 2021 and driving sales through offering insurance coverage, Medicare and TMS services at each of our clinics.”
| (1) | Calculated using Stifel GMP estimates. Source: Stifel Nicolaus Canada Inc. 2021. Canada-Healthcare. |
| *Amounts disclosed in Canadian dollars unless otherwise noted. | |
ABOUT REVITALIST LIFESTYLE AND WELLNESS
Revitalist Lifestyle and Wellness Ltd. is a publicly traded (CSE: CALM) company, headquartered in Knoxville, Tennessee, with five clinics operating across the United States and expanding. Revitalist is dedicated to empowering individuals toward an improved quality of well-being through a combination of comprehensive care and future-centric treatments provided by medical professionals, mental health experts, and chronic pain specialists. Since opening their first clinic in 2018, Revitalist has provided over 7,000 infusions for patients suffering from treatment-resistant conditions. Additionally, Revitalist offers a number of lifestyle optimization services and vitamin infusions that can bring anyone closer to total wellness.
On Behalf of the Board
Kathryn Walker
Chief Executive Officer
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Forward Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Revitalist to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.
Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
