MedAvail to Open First Four SpotRx Locations in Florida
MedAvail Holdings, Inc. (Nasdaq: MDVL) is expanding its retail pharmacy services in Florida by opening a hub pharmacy in Orlando and four SpotRx locations. The partnership with Cano Health will enhance patient care through in-clinic kiosks and home delivery options for Medicare patients. MedAvail sees a significant market opportunity in Florida, estimated at over $3.7 billion annually. The SpotRx platform enables virtual consultations with pharmacists, streamlining medication access while focusing on optimizing drug adherence.
- Expansion into Florida with four SpotRx locations and a hub pharmacy in Orlando.
- Partnership with Cano Health enhances patient access to medications.
- Large market opportunity in Florida, exceeding $3.7 billion annually.
- SpotRx provides virtual consultations and convenient medication delivery.
- None.
MedAvail Holdings, Inc. (Nasdaq: MDVL) (“MedAvail”), a technology-enabled retail pharmacy company, will be opening its hub pharmacy in Orlando in July and its first four SpotRx locations in Florida, its fourth target state.
In-clinic SpotRx kiosks and courier home delivery will be available to patients at four Cano Health clinic locations in the Orlando area. SpotRx Pharmacy is the retail pharmacy brand owned and operated by MedAvail in the United States, which deploys and operates the MedAvail MedCenters.
“We are thrilled to begin our expansion into Florida with Cano Health, a partner who is equally passionate about optimizing patient outcomes,” said Ed Kilroy, Chief Executive Officer of MedAvail. “Our partnership with Cano Health is an exciting first step on our journey to serving Medicare patients in hundreds of potential clinics in Florida, where we have a total annual market opportunity of over
MedAvail’s SpotRx Pharmacy business is primarily focused on the Medicare (65+ year old) market and the medical clinics where they receive care. The SpotRx MedCenter allows patients to virtually consult with a pharmacist and fill their medications within clinics, eliminating the need to visit a pharmacy. SpotRx also provides patients the option to have their medications delivered to their homes free of charge.
“Our partnership with SpotRx will enable us to provide a high touch pharmacy experience to our patients while also providing convenient on-site access to over-the-counter and prescription medications,” said Dr. Richard Aguilar, Chief Clinical Officer of Cano Health. “We want to ensure that our patients receive high quality, affordable care and medication adherence plays an important role in population health management.”
About Cano Health
Cano Health operates value-based primary care centers and supports affiliated medical practices that specialize in primary care for seniors in Florida, Texas, Nevada, and Puerto Rico, with additional markets in development. As part of its care coordination strategy, Cano Health provides sophisticated, high-touch population health management programs including telehealth, prescription home delivery, wellness programs, transition of care, and high-risk and complex care management.
The Company’s personalized patient care and proactive approach to wellness and preventive care sets it apart from competitors. Cano Health has consistently improved clinical outcomes while reducing costs, affording patients the opportunity to lead longer and healthier lives. For more information visit www.canohealth.com.
About SpotRx
SpotRx places control of the pharmacy experience back in the hands of consumers. SpotRx is a telehealth platform that delivers remote pharmacist consultations through an on-site dispensing kiosk, supplemented with home delivery capability.
About MedAvail
MedAvail Holdings, Inc. (NASDAQ: MDVL) is a technology-enabled pharmacy organization, providing turnkey in-clinic pharmacy services through its proprietary robotic dispensing platform, the MedAvail MedCenter, and home delivery operations, to Medicare clinics. MedAvail helps patients to optimize drug adherence, resulting in better health outcomes. Learn more at www.medavail.com.
Additional Information
On November 11, 2020, Cano Health entered into a business combination agreement (as it may be amended, supplemented or otherwise modified from time to time, the “Business Combination Agreement” and the transactions contemplated therein, the “Business Combination”), by and among Jaws Acquisition Corp. (“Jaws”), Jaws Merger Sub, LLC and Primary Care (ITC) Holdings, LLC.
In connection with the Business Combination, including the domestication of Jaws as a Delaware corporation, Jaws filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 containing a preliminary proxy statement and a preliminary prospectus of Jaws, and after the registration statement is declared effective, Jaws will mail a definitive proxy statement/prospectus about the Business Combination to its shareholders. This press release does not contain all the information that should be considered concerning the Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination. Interested persons are advised to read the preliminary proxy statement/prospectus and, when available, any amendments thereto, the definitive proxy statement/prospectus and other documents filed in connection with the Business Combination, as these materials will contain important information about Cano Health, Jaws and the Business Combination. Copies of the preliminary proxy statement/prospectus and, once available, the definitive proxy statement/prospectus and other documents filed with the SEC are available, without charge, at the SEC’s website at www.sec.gov, or by directing a request to: 1601 Washington Avenue, Suite 800, Miami Beach, FL 33139.
Participants in the Solicitation
Cano Health and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Jaws in connection with the Business Combination. A list of the names of such directors and executive officers and information regarding their interests in the Business Combination will be included in the definitive proxy statement/prospectus for the Business Combination when available.
Jaws and its directors and executive officers may also be deemed participants in the solicitation of proxies from Jaws’ shareholders with respect to the Business Combination. A list of the names of those directors and executive officers and a description of their interests in Jaws is contained in Jaws’ final prospectus related to its initial public offering, dated April 28, 2020, which was filed with the SEC and is available free of charge at the SEC’s website at www.sec.gov, or by directing a request to Jaws Acquisition Corp., 1601 Washington Avenue, Suite 800, Miami Beach, FL 33139. Additional information regarding the interests of such participants will be contained in the definitive proxy statement/prospectus for the Business Combination when available.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Jaws or Cano Health, nor shall there be any sale of any such securities in any state or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.
SOURCE MedAvail Holdings Inc.
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