Retail

MedAvail names new CEO, board changes and preliminary Q4 and FY 2021 results

Image provided by MedAvail Holdings Inc.

January 12, 2022

MedAvail Holdings Inc., a technology-enabled retail pharmacy company providing pharmacy services in Medicare-focused clinics, announced a new chief executive officer, board changes and preliminary Q4 and FY 2021 results, according to a press release

The company announced that Mark Doerr, RPh, has joined the company as chief executive officer and director, effective Jan. 10, 2022. He succeeds Ed Kilroy, who retired as CEO and from the board of directors and is moving into an advisory role through March 31, 2022.

Gerard van Hamel Platerink has stepped down as chairperson of the board of directors, having served on MedAvail's board of directors since June 2012. He is succeeded by current director, Rob Faulkner.

Helen Ciesielski, who has served on the board of directors since 2018, also stepped down.

The board has also appointed two other new directors: Laurie McGraw and Paul Johnson. These changes to the board became effective as of Jan. 10, 2022.

Net sales for the fourth quarter are expected to be $6.9 million to $7.2 million, representing an increase of more than 123% compared to $3.1 million the same period in 2020.

Net sales for the full year are expected to be in the range of $21.7 million to $22.0 million, representing an increase of more than 55% compared to $14.0 million in 2020.

The company deployed 46 SpotRx MedCenters in new clinic sites in 2021.