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MedAvail Holdings, Inc. (NASDAQ: MDVL) is a pioneering pharmacy technology company that has transformed prescription medication dispensing through its flagship product, the MedAvail MedCenter®.
MedAvail's core business revolves around designing and manufacturing automated dispensing and medication management technologies. The MedCenter is essentially a pharmacist-controlled automated prescription medicine dispensing vault, akin to an ATM, intended for deployment in various healthcare settings like hospitals, pharmacies, medical clinics, and Federally Qualified Health Centers (FQHCs).
Utilizing advanced robotics, two-way video teleconferencing, and a secure network for patient medical information, the MedCenter streamlines the prescription dispensing process. This integration allows for efficient MedCenter deployments, significantly enhancing the partner and patient experience.
MedAvail's technology aims to promote patient drug adherence, which in turn leads to better health outcomes. Their turnkey, in-clinic pharmacy services are currently utilized in both primary care and urgent care settings.
MedAvail has recently made notable strides in the industry, having integrated with Epic and Willow to improve service delivery. These integrations are anticipated to further streamline operations and enhance the overall user experience.
To learn more about MedAvail's innovative solutions and their impact on improving healthcare outcomes, visit www.medavail.com.
MedAvail Holdings, Inc. (Nasdaq: MDVL) reported significant growth in Q3 2022, with total revenue reaching $11.5 million, a 98% increase year-over-year. The company's retail pharmacy services segment saw a notable 105% revenue increase. MedAvail achieved a gross margin of 11.3%, up from 8.2% in Q2 2022, and reduced its cash burn rate by 26%. The total net dispensing deployments rose to 103, a 52% increase this year. For 2022, MedAvail expects revenues of at least $42 million, marking a growth of at least 90%.
MedAvail Holdings, Inc. (Nasdaq: MDVL) will disclose its third-quarter 2022 financial results on November 10, 2022, after market close. A webcast conference call will occur at 1:30 p.m. PT / 4:30 p.m. ET. Investors can register online via the 'Investor Relations' section of MedAvail's website for live access and subsequent replay. MedAvail, a technology-enabled pharmacy, enhances drug adherence through its robotic dispensing platform and services targeted at Medicare clinics.
MedAvail Holdings (NASDAQ: MDVL) and Progressive Care (OTCQB: RXMD) have announced a technology agreement to deploy five MedAvail MedCenters in Florida. This partnership aims to enhance pharmacy services by allowing PharmcoRx to use MedAvail's medication dispensing technology for remote consultations and prescription filling. Patients will benefit from quicker access to medications without needing separate trips to pharmacies. Both companies are committed to expanding their reach and improving patient care through this innovative solution.
MedAvail Holdings, Inc. (Nasdaq: MDVL), a technology-driven pharmacy company, announced its participation in the hybrid H.C. Wainwright 24th Annual Global Investment Conference, scheduled for September 13, 2022, at 2:30 p.m. Eastern Time. The presentation will be accessible via a live and archived webcast on the company's website. MedAvail specializes in providing in-clinic pharmacy services through its proprietary MedCenter platform, enhancing drug adherence for better health outcomes. More details can be found at investors.medavail.com.
MedAvail Holdings, Inc. (Nasdaq: MDVL) announced its participation in the Inaugural Gilmartin Group Emerging Growth Company Showcase, set for August 31, 2022, at 1:20 p.m. ET. The event will be conducted virtually, and interested parties can access the live webcast via a provided link. An archived version will be available on the company’s investor relations website. MedAvail is known for its innovative in-clinic pharmacy services and robotic dispensing technology, aiming to improve patient drug adherence and health outcomes.
MedAvail Holdings, Inc. (Nasdaq: MDVL) reported a substantial 122% increase in total revenue to $11.2 million for Q2 2022, driven primarily by a 137% rise in Retail Pharmacy Services. The company ended the quarter with 98 cumulative MedCenter deployments, up 31% year-to-date. Despite a net operating loss of $11.4 million and adjusted EBITDA loss of $10.3 million, MedAvail is optimistic about its future, raising its full-year revenue guidance to at least $42 million, reflecting 90% growth from 2021.
MedAvail Holdings, Inc. (NASDAQ: MDVL) will report its Q2 2022 financial results on August 11, 2022, after market close. A conference call will follow on the same day at 1:30 p.m. PT / 4:30 p.m. ET. Investors can access the live audio webcast on MedAvail’s Investor Relations website, which will also feature an archived version for later replay.
MedAvail specializes in technology-enabled pharmacy services through its MedCenter and home delivery operations, aimed at enhancing patient drug adherence.
MedAvail Holdings, Inc. (NASDAQ: MDVL) has announced its participation in upcoming virtual investor conferences, highlighting its commitment to engage with investors. The events include the Lytham Partners Summer 2022 Investor Conference on June 21-22, 2022, and a fireside chat at Cowen's 7th Annual FutureHealth Conference on June 22, 2022, at 10:50 a.m. Eastern Time. Webcast access for these sessions is available in the 'Investors' section of the MedAvail website. MedAvail is known for its MedCenter robotic dispensing platform, which enhances drug adherence and health outcomes.
MedAvail Holdings, Inc. (MDVL) reported a 126% increase in total revenue to $9.1 million for Q1 2022. The company achieved a 14% rise in cumulative MedCenter deployments and a 29% increase in dispensing deployments. However, Pharmacy Technology revenue saw a 56% decline to $0.3 million. Despite robust sales growth, net operating loss widened to $12.8 million from $9.7 million. The company secured approximately $40 million in gross proceeds from a private placement, with an additional $10 million expected.
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