MedAvail Holdings, Inc. (MDVL): history, ownership, mission, how it works & makes money (2024)

A Brief History of MedAvail Holdings, Inc. (MDVL)

MedAvail Holdings, Inc. is a healthcare technology company that specializes in providing innovative solutions for pharmacy services. The company was founded in 2012 with the goal of improving access to medication and healthcare services for patients.

One of the key milestones in the company's history was the development of its MedAvail MedCenter technology, which is an automated pharmacy kiosk that allows patients to pick up their prescriptions 24/7. This technology revolutionized the way patients access their medications, providing a convenient and efficient solution for medication management.

• 2013: MedAvail Holdings, Inc. launched its first MedAvail MedCenter kiosk in a healthcare facility, marking the beginning of its journey to transform pharmacy services.
• 2015: The company expanded its presence by partnering with various healthcare organizations and pharmacies to deploy more MedAvail MedCenter kiosks across the United States.
• 2018: MedAvail Holdings, Inc. went public and started trading on the New York Stock Exchange under the ticker symbol MDVL, further solidifying its position in the healthcare technology industry.
• 2020: The company continued to innovate and enhance its technology, offering new features and services to improve patient adherence and engagement with their medications.

Today, MedAvail Holdings, Inc. is recognized as a leader in the healthcare technology industry, providing innovative solutions that bridge the gap between patients and their medications. The company remains committed to improving access to healthcare services and enhancing the patient experience through its cutting-edge technologies.

Who Owns MedAvail Holdings, Inc. (MDVL)

MedAvail Holdings, Inc. (MDVL) is a publicly traded company, so its ownership is distributed among various shareholders. The largest shareholders of MedAvail Holdings, Inc. include institutional investors, individual investors, and insiders.

• Institutional Investors: Institutional investors such as mutual funds, pension funds, and hedge funds hold a significant portion of MedAvail Holdings, Inc.'s shares. These institutions often have large stakes in the company and can influence its decisions.
• Individual Investors: Individual investors, including retail investors and high-net-worth individuals, also own shares of MedAvail Holdings, Inc. These investors buy and sell shares of the company on the open market through brokerage accounts.
• Insiders: Insiders of a company, such as executives, directors, and employees, may also own shares of MedAvail Holdings, Inc. These insiders often have a vested interest in the company's performance and may hold significant ownership stakes.

MedAvail Holdings, Inc. (MDVL) Mission Statement

MedAvail Holdings, Inc. is a healthcare technology company that is dedicated to transforming the delivery of healthcare by providing innovative solutions that improve access, convenience, and affordability for patients. Our mission is to empower patients to take control of their healthcare journey and make informed decisions about their well-being.

At MedAvail, we are committed to enhancing medication adherence and improving health outcomes by making medications more accessible and convenient. We believe that everyone should have access to the medications they need, when they need them, in a way that is easy, efficient, and cost-effective.

• Empowering patients: We believe in giving patients the information and tools they need to make the best choices for their health.
• Improving access: We are dedicated to expanding access to medications and healthcare services in underserved communities.
• Enhancing convenience: We strive to make it easier for patients to manage their medications and stay on track with their treatment plans.
• Promoting affordability: We work to reduce barriers to medication access and ensure that cost is not a barrier to good health.

How MedAvail Holdings, Inc. (MDVL) Works

MedAvail Holdings, Inc. (MDVL) is a healthcare technology company that focuses on improving access to medication for patients through their MedAvail MedCenters. These self-service kiosks provide patients with a convenient way to pick up their prescriptions without having to wait in line at a traditional pharmacy.

The MedAvail MedCenters are equipped with advanced technology that allows patients to communicate with a pharmacist via video conferencing. This ensures that patients can still have their questions answered and receive counseling on their medications, even though they are not in a physical pharmacy.

Patients can also use the MedAvail MedCenters to refill their prescriptions, transfer prescriptions from other pharmacies, and access over-the-counter medications and wellness products. The kiosks accept most insurance plans and payment methods, making it easy for patients to receive the medications they need.

One of the key features of the MedAvail MedCenters is their ability to improve medication adherence. By providing patients with easy access to their medications, MedAvail helps ensure that patients are more likely to take their medications as prescribed, leading to better health outcomes.

• Convenient Access: Patients can pick up their prescriptions without waiting in line at a traditional pharmacy.
• Pharmacist Consultation: Patients can communicate with a pharmacist via video conferencing for counseling on their medications.
• Refill and Transfer Options: Patients can easily refill and transfer their prescriptions using the kiosk.
• Medication Adherence: The MedAvail MedCenters help improve medication adherence by providing easy access to medications.

How MedAvail Holdings, Inc. (MDVL) Makes Money

MedAvail Holdings, Inc. (MDVL) generates revenue through several key sources:

• MedAvail MedCenters: The company's primary revenue driver is its MedAvail MedCenters, which are self-service pharmacy kiosks located in various healthcare facilities. These kiosks provide patients with convenient access to prescription medications, over-the-counter products, and other healthcare services. MedAvail earns revenue through transaction fees, product sales, and service fees associated with each MedCenter.
• MedAvail Plus: In addition to its MedCenters, MedAvail also offers a medication adherence program called MedAvail Plus. This program helps patients manage their medications more effectively, leading to improved health outcomes. MedAvail generates revenue through subscription fees from healthcare providers and payers who use the MedAvail Plus platform.
• Technology Licensing: MedAvail also generates revenue through licensing its proprietary technology to other healthcare providers and organizations. This includes its MedAvail MedCenter software, telemedicine platform, and medication adherence tools. Licensing fees and royalties contribute to the company's overall revenue stream.
• Medication Sales: As a pharmacy services provider, MedAvail also earns revenue through the sale of medications to patients using its MedCenters. By offering a wide range of prescription and over-the-counter products, MedAvail is able to capture additional revenue from medication sales.
• Service Fees: MedAvail may also earn revenue through service fees charged to healthcare providers, payers, and other organizations that utilize its technology and services. These fees can include implementation fees, training fees, and ongoing support fees.