---
schema_version: "secwatch.filing_event.v1"
accession: "0001402479-23-000002"
form_type: "8-K"
ticker: null
cik: "0001402479"
company_name: "MedAvail Holdings, Inc."
filed_at: "2023-01-19T23:59:59+00:00"
generated_at: "2026-06-20T13:02:31.466908+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# MedAvail exits pharmacy services, cuts 75% of staff; reaffirms 2022 revenue guidance of at least $42M

## Summary
- Exiting pharmacy services and SpotRx business; hired broker to sell related pharmacy assets.
- Reduction in force of approximately 75% of full-time employees, effective January 18, 2023.
- Expected annualized operating expense savings of $35 million to $37 million compared to full year 2022.
- Reaffirms FY2022 revenue guidance of at least $42 million (90% YoY growth) and 40 net new dispensing deployments.
- FY2022 pharmacy technology sales expected $1.2M-$1.4M with gross margin >45%.

## SEC filing metadata
- accession: 0001402479-23-000002
- form_type: 8-K
- cik: 0001402479
- company_name: MedAvail Holdings, Inc.
- filed_at: 2023-01-19T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1402479/000140247923000002/0001402479-23-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1402479/000140247923000002/medavail-20230118.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001402479-23-000002
- JSON: https://secwatch.observer/filing/0001402479-23-000002.json
- Plain text: https://secwatch.observer/filing/0001402479-23-000002.txt

## Key facts
- Earnings Releases
  MedAvail Holdings, Inc. updated its 2022 guidance (reaffirmed).
  - Period: 2022
  - Guidance: reaffirmed
  - Result: preliminary results
  source text: On January 19, 2023, MedAvail Holdings, Inc. (the “Company”) reaffirmed guidance and announced certain preliminary estimates of selected financial results for 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402479/000140247923000002/0001402479-23-000002-index.htm
- Restructurings & Charges
  MedAvail Holdings, Inc. announced a restructuring affecting Pharmacy Services Business (approximately 75% of the Company’s full-time employees).
  - Type: restructuring
  - Affected area: Pharmacy Services Business
  - Headcount: approximately 75% of the Company’s full-time employees
  source text: On January 18, 2023, and in connection with the Company's exit from the Pharmacy Services Business to focus on the Pharmacy Technology Business, the Company initiated a reduction in force (the “Reduction”), in which approximately 75% of the Company’s full-time employees were immediately terminated, effective January 18, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402479/000140247923000002/0001402479-23-000002-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.