MedAvail Holdings, Inc (MDVL)

Overview

MedAvail Holdings, Inc. is a pharmacy technology and services company that operates through two primary segments: Retail Pharmacy Services and Pharmacy Technology. The organization is dedicated to advancing the pharmaceutical landscape by leveraging technology to enhance service delivery. Through its Retail Pharmacy Services segment, MedAvail runs SpotRx Pharmacy, a comprehensive retail pharmacy that integrates automated pharmacy technology to cater primarily to Medicare patients across the United States. The company positions itself as a technology-enabled pharmacy organization, effectively embedding pharmacy services within clinics and various points of care. This integration is accomplished through a combination of mobile applications and self-service kiosk technology, facilitating a more efficient and modern approach to pharmaceutical distribution. Founded in 2007 and based in Phoenix, Arizona, MedAvail employs around 279 individuals and has established itself as an innovator in the healthcare sector, focusing on retail pharmacy operations and point-of-care medication management solutions.

Products and Services

• Retail Pharmacy Services

  This segment encompasses the operation of SpotRx Pharmacy, which offers a full range of pharmacy services, utilizing MedAvail's proprietary automated technology. Primarily targeting Medicare beneficiaries, SpotRx ensures that patients have access to their medications conveniently and efficiently.

• Pharmacy Technology

  Focusing on innovation, this segment develops and commercializes MedCenter, a state-of-the-art prescription dispensing kiosk system. The MedCenter is designed for direct sale or lease to third-party customers, providing necessary software integration and maintenance services to enhance user experience and operational efficiency.

• Mobile Applications

  MedAvail also develops mobile applications that complement its pharmacy services, allowing users to manage their prescriptions, receive medication reminders, and communicate with pharmacists seamlessly. This feature empowers patients by putting critical pharmacy information at their fingertips.

• Self-Service Kiosk Technology

  The integration of self-service kiosk technology allows patients to conveniently access their medications at various points of care. These kiosks streamline the dispensing process and reduce wait times, thus making medication management more accessible and efficient for users.

• Software Integration and Maintenance Services

  MedAvail's commitment to customer support extends beyond product delivery. The company offers comprehensive software integration and ongoing maintenance services to ensure that its pharmacy technology operates effectively and continues to meet the evolving needs of clients.