secwatch.observer — SEC 8-K summary
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Issuer:     MedAvail Holdings, Inc. (—)
CIK:        0001402479
Form:       8-K/A
Filed at:   2023-04-06T23:59:59+00:00
Accession:  0001402479-23-000023
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 9.01, 2.01
LLM model:  deepseek-v4-flash:cloud@v2

MedAvail substantially completes exit from pharmacy services; focuses on pharmacy tech business
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- As of March 31, 2023, MedAvail substantially completed exit from pharmacy services; future focus solely on pharmacy tech.
- Closed asset sale to CVS on Feb 10, 2023 for $2.9M final purchase price (up to $4.4M originally) with $0.1M fees and $0.2M holdback.
- Pro forma shows elimination of pharmacy services revenue: $30.7M for 9mo Sep2022, $20.2M for FY2021.
- Pro forma net loss reduced to $15.4M (9mo Sep2022) from historical $36.5M; discontinued ops treatment in Q1 2023 10-Q.
- Company now solely a pharmacy technology business after exiting retail pharmacy operations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1402479/000140247923000023/0001402479-23-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1402479/000140247923000023/medavail-20230118.htm
  HTML page:      https://secwatch.observer/filing/0001402479-23-000023

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