secwatch.observer — SEC 8-K summary
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Issuer:     MedAvail Holdings, Inc. (—)
CIK:        0001402479
Form:       8-K
Filed at:   2023-01-19T23:59:59+00:00
Accession:  0001402479-23-000002
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1402479/000140247923000002/0001402479-23-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1402479/000140247923000002/medavail-20230118.htm
  HTML page:      https://secwatch.observer/filing/0001402479-23-000002

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