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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 (Nasdaq: MDVL) announces its partnership with Cano Health to install SpotRx kiosks in four clinics in the Los Angeles area. This collaboration aims to enhance pharmacy access for patients, particularly seniors, through on-site medication dispensing and courier delivery services. MedAvail plans to leverage its established infrastructure in California to support this initiative. The partnership is designed to improve medication adherence and health outcomes for Cano Health's predominantly low-income and minority patient base.
MedAvail Holdings, Inc. (Nasdaq: MDVL) reported Q3 2021 financial results, highlighting total net sales of $5.8 million, a 149% increase in Retail Pharmacy Services sales, and a 93% decrease in Pharmacy Technology sales (which increased 51% when excluding a non-recurring benefit from 2020). The net loss widened to $11.3 million from $2.5 million year-over-year, and adjusted EBITDA losses increased to $10.1 million. The company reaffirms its revenue guidance of at least $21 million for 2021, maintaining a target of 45 new clinic deployments.
MedAvail Holdings, Inc. (NASDAQ: MDVL) is set to launch three new SpotRx locations in collaboration with InnovaCare Health in Florida during Q4 2021. The initiative allows patients to access in-clinic SpotRx kiosks and home delivery services at Trinity Medical Center clinics in Lakeland. This partnership aims to enhance patient health outcomes through immediate prescription access, contactless delivery, and personalized pharmacist support. MedAvail’s technology-driven pharmacy model emphasizes medication adherence and aims to revolutionize pharmacy services.
MedAvail Holdings, Inc. (Nasdaq: MDVL) announced its participation in the 30th Annual Credit Suisse Virtual Healthcare Conference. The presentation is scheduled for Thursday, November 11, 2021, at 3:30 p.m. Eastern Time. Stakeholders can access a live and archived webcast via the company’s website. MedAvail specializes in technology-enabled pharmacy services, offering in-clinic pharmacy solutions through its MedAvail MedCenter and home delivery services, aimed at improving medication adherence and patient health outcomes.
MedAvail Holdings, Inc. (Nasdaq: MDVL) announced its financial results for Q3 2021 will be reported on November 8, 2021, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET. MedAvail provides in-clinic pharmacy services via its proprietary robotic dispensing platform, aiming to improve drug adherence and health outcomes for Medicare clinics. Investors can access the live webcast on its Investor Relations page.
MedAvail Holdings, Inc. (Nasdaq: MDVL) has appointed Ramona Seabaugh as Chief Financial Officer, effective immediately. Seabaugh brings over 20 years of experience in pharmacy and healthcare financial leadership. President and CEO Ed Kilroy highlighted her expertise as crucial for enhancing operational and financial performance. Seabaugh aims to leverage MedAvail's embedded pharmacy model to accelerate growth and add value for shareholders. MedAvail specializes in technology-enabled pharmacy services, primarily targeting Medicare beneficiaries.
MedAvail Holdings (Nasdaq: MDVL) is set to launch four SpotRx pharmacy kiosks within IMA Medical Group clinics in Florida starting in 2021. This collaboration aims to enhance medication access for Medicare patients, providing in-clinic prescriptions and free next-day home deliveries. Patients will benefit from follow-up calls from pharmacists and refill reminders for chronic medications. This initiative expands MedAvail's footprint in Florida by utilizing the MedAvail MedCenter technology, aligning with IMA's commitment to quality patient care.
MedAvail Holdings, Inc. (Nasdaq: MDVL), a technology-enabled retail pharmacy company, will participate in the H.C. Wainwright 23rd Annual Global Investment Conference from September 13 to 15, 2021. The presentation will be available on September 13, starting at 7:00 a.m. Eastern Time. Interested parties can access the webcast through the company’s website. MedAvail specializes in providing in-clinic pharmacy services via its robotic platform, which enhances patient drug adherence and improves health outcomes.
MedAvail Holdings (Nasdaq: MDVL) reported a 118% increase in net sales for Q2 2021, reaching $5.0 million, driven by a 162% growth in Retail Pharmacy Services. However, the company experienced a net loss of $10.5 million, up from $6.5 million in the previous year. MedAvail revised its full-year revenue guidance to at least $21 million, down from $27-$31 million, citing regulatory delays and clinic performance issues due to COVID-19. Despite these challenges, the company is excited about new partnerships and ongoing geographic expansions.
MedAvail Holdings (Nasdaq: MDVL) announced that SpotRx has been chosen as a Partner Pharmacy for Zipdrug, now part of IngenioRx, Inc., a subsidiary of Anthem, Inc. This partnership aims to connect patients with chronic conditions to high-performing independent pharmacies, enhancing medication delivery directly to homes in the Tucson area, where SpotRx will be the only preferred pharmacy.
The collaboration highlights MedAvail’s commitment to improving patient outcomes through optimized drug adherence and quality care, with plans to expand the partnership across additional states.
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