MedAvail
Creator of the MedCenter.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor investor investor investor | €0.0 | round | |
| investor investor investor investor investor investor investor investor | €0.0 | round | |
* | N/A | $16.0m | Private Placement VC |
| Total Funding | 000k | ||
| USD | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | (19 %) | 270 % | 58 % | (94 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (313 %) | (504 %) | (149 %) | (195 %) | (1127 %) |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (364 %) | (571 %) | (192 %) | (198 %) | (3496 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | - | 29 % | 5 % | 4 % | 60 % |
Source: Company filings or news article
Related Content
MedAvail Holdings, Inc. operated as a technology-enabled pharmacy company, founded in 2012 with headquarters in Ontario, Canada, and operations across North America. The company aimed to address inefficiencies in traditional pharmacy models by developing and commercializing self-service pharmacy solutions.
MedAvail's business was structured into two primary segments: Pharmacy Technology and Retail Pharmacy Services. The Pharmacy Technology arm developed and commercialized the MedCenter, an automated, pharmacist-controlled kiosk for dispensing prescription medications. This system featured a two-way audio-visual connection to a live pharmacist, allowing for real-time consultations and ensuring patient guidance. The kiosks were designed for deployment in various locations, including medical clinics, hospitals, and retail stores, to increase medication accessibility. Revenue from this segment was generated through the sale or lease of MedCenter kiosks to healthcare providers and other organizations, alongside service and maintenance contracts.
The Retail Pharmacy Services segment operated under the brand SpotRx, a full-service retail pharmacy that utilized the MedCenter technology. SpotRx primarily focused on serving Medicare patients in the United States, offering medication dispensing through the in-clinic kiosks and supplementing this with home delivery services. This integrated model was designed to improve medication adherence and patient outcomes by embedding pharmacy services directly at the point of care. Revenue for this segment came from prescription medication sales and value-added programs. In January 2023, MedAvail announced the sale of certain SpotRx pharmacy assets to CVS Pharmacy.
Throughout its operation, the company achieved significant revenue growth, recognized by Deloitte's Technology Fast 500™ in 2022 for its 374% revenue increase from 2018 to 2021. However, the company also faced substantial operating losses. After evaluating strategic options, MedAvail Holdings, Inc. filed for Chapter 7 bankruptcy on February 2, 2024, leading to the liquidation of its assets and the delisting of its stock from Nasdaq.
Keywords: pharmacy technology, automated dispensing, MedCenter kiosk, SpotRx, telehealth pharmacy, medication adherence, in-clinic pharmacy, remote pharmacist, self-service pharmacy, prescription dispensing, pharmacy automation, home delivery pharmacy, Medicare pharmacy services, digital health, retail pharmacy, MedAvail bankruptcy, healthcare technology systems, medication management, pharmacy kiosks, last-mile pharmacy