MedAvail Postpones Reporting of Fourth Quarter and FY 2022 Financial Results

PHOENIX, March 30, 2023 (GLOBE NEWSWIRE) — MedAvail Holdings, Inc. (NASDAQ: MDVL) (“MedAvail” or the “Company”), an innovative pharmacy technology company, announced today that it is postponing its scheduled earnings release and conference call for the fourth quarter and full-year ended December 31, 2022 previously scheduled for today.

The Company requires additional time to complete the preparation and corresponding audit of its consolidated condensed financial statements as of and for the year ended December 31, 2022. In connection with the Company’s divestiture of its pharmacy services business, the Company and its auditors need more time to complete their year-end procedures and reporting. The Company plans to file a timely Notification Late Filing on Form 12b-25 to extend the filing deadline for the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022.

The Company will announce the date and time of its scheduled fourth quarter and full-year ended December 31, 2022 financial results and conference call in a future press release.

About MedAvail

MedAvail Holdings, Inc. (NASDAQ: MDVL) is a technology-enabled pharmacy company, providing turnkey in-clinic pharmacy services through its proprietary robotic dispensing platform, the MedAvail MedCenter, to Medicare clinics, urgent care clinics, large healthcare systems, mass merchandise retailers, hospital systems and other healthcare channels. MedAvail helps patients to optimize drug adherence, resulting in better health outcomes. Learn more at www.medavail.com.

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “project,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of MedAvail’s management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to our ability to successfully achieve the benefits of a pharmacy technology only business and the efficiencies related to a restructuring and reorganization, and risks relating to our ability to successfully consummate potential strategic, financing and restructuring transactions, as well as other risks discussed under the heading “Risk Factors” in MedAvail’s recent Annual Report on Form 10-K and MedAvail’s Quarterly Reports on Form 10-Q,and other filings MedAvail makes with the Securities and Exchange Commission (“SEC”) in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and MedAvail specifically disclaims any obligation to update these forward-looking statements.

Contacts:

Investor Relations
Investor Relations
Steven Halper/Caroline Paul
Managing Directors, LifeSci Advisors
ir@medavail.com

SOURCE MedAvail Holdings, Inc.