MedAvail Announces Agreement with New Orleans-Based St. Thomas Community Health Centers for Deployment of Two M4 MedCenters

Rhea-AI Summary

MedAvail Holdings, Inc. (MDVL) expands its presence among Federally Qualified Health Centers (FQHCs) by entering into an agreement with St. Thomas Community Health Centers for the deployment of two M4 MedCenter kiosks. This partnership aims to provide affordable health care to underserved communities across the New Orleans metropolitan area, utilizing 340B savings to improve medication access and adherence, and improve health outcomes.

Expands MedAvail’s presence among Federally Qualified Health Centers (FQHCs)

PHOENIX, Nov. 28, 2023 (GLOBE NEWSWIRE) -- MedAvail Holdings, Inc. (Nasdaq: MDVL) (“MedAvail”), an innovative pharmacy technology company, announced today that it has entered into an agreement with New Orleans-based St. Thomas Community Health Centers for the deployment of two M4 MedCenter kiosks. St. Thomas operates eight Federally Qualified Health Centers (FQHCs), providing affordable health care to underserved communities across the New Orleans metropolitan area.

“We are very excited to announce this new agreement with St. Thomas, building upon our existing infrastructure in the New Orleans area and growing our presence in the FQHC partner channel, where we see significant long-term growth opportunities,” stated Mark Doerr, Chief Executive Officer of MedAvail. “We look forward to a long and mutually beneficial partnership.”

“As we work to bring affordable, convenient health care services to the uninsured and under insured population, investing in MedCenter kiosks is an example of how St. Thomas utilizes 340B savings to improve medication access and adherence, and improve health outcomes,” stated Danny Jackson, Director of Pharmacy Services, St. Thomas. “We look forward to deploying these kiosks as efficiently as possible as we fulfill our mission to deliver the best care possible.”

About MedAvail

MedAvail Holdings, Inc. (NASDAQ: MDVL) is a pharmacy technology company, providing turnkey, in-clinic pharmacy services through its proprietary robotic dispensing technology, the MedAvail MedCenter®. The MedCenter is currently in use in both the primary care and urgent care settings, as well as Federally Qualified Health Centers (FQHCs).

MedAvail promotes patient drug adherence, resulting in better health outcomes. Learn more at www.medavail.com.

Forward Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," "project," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the number and timing of MedCenter deployments. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of MedAvail's management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to the success of initial MedCenter deployments and other risks discussed under the heading "Risk Factors" in MedAvail’s recent Annual Report on Form 10-K and MedAvail’s Quarterly Reports on Form 10-Q , and other filings MedAvail makes with the Securities and Exchange Commission in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and MedAvail specifically disclaims any obligation to update these forward-looking statements.

Contacts:
Investor Relations
Steven Halper/Caroline Paul
Managing Directors, LifeSci Advisors
ir@medavail.com

SOURCE MedAvail Holdings, Inc.

FAQ

What is the recent announcement from MedAvail Holdings, Inc. (MDVL)?

MedAvail Holdings, Inc. (MDVL) has announced an agreement with St. Thomas Community Health Centers for the deployment of two M4 MedCenter kiosks.

What are the long-term growth opportunities mentioned by MedAvail Holdings, Inc. (MDVL)?

MedAvail sees significant long-term growth opportunities in the FQHC partner channel.

How does St. Thomas Community Health Centers plan to utilize the MedCenter kiosks?

St. Thomas plans to utilize the kiosks to bring affordable, convenient health care services to the uninsured and underinsured population, utilizing 340B savings to improve medication access and adherence, and improve health outcomes.

Who are the key individuals involved in this partnership?

Mark Doerr, Chief Executive Officer of MedAvail, and Danny Jackson, Director of Pharmacy Services at St. Thomas, are key individuals involved in this partnership.