Brief: Medavail Announces Sale Of Pharmacy Assets To Cvs Pharmacy

Medavail Holdings

26/01/2023 13:22

Jan 26 (Reuters) - MedAvail Holdings Inc  MDVL.O :
    * MEDAVAIL ANNOUNCES SALE OF PHARMACY ASSETS TO CVS PHARMACY
    * MEDAVAIL HOLDINGS - PORTION OF PROCEEDS FROM CVS
TRANSACTION
WILL BE USED TO PAYDOWN COMPANY'S EXISTING LOAN FACILITY
    * MEDAVAIL HOLDINGS INC - PORTION OF PROCEEDS FROM CVS
TRANSACTION
WILL BE USED TO PAYDOWN COMPANY'S EXISTING LOAN FACILITY
    * MEDAVAIL HOLDINGS INC - REMAINING PROCEEDS WILL BE USED
FOR
ONGOING OPERATION OF COMPANY
    * MEDAVAIL HOLDINGS INC -  CO CURRENTLY ESTIMATES IT WILL
END
2022, PRIOR TO CVS TRANSACTION, WITH BETWEEN $10 MILLION TO $11
MILLION OF CASH AND INVESTMENTS
    * MEDAVAIL HOLDINGS INC - ESTIMATES THAT IT WILL END 2022,
PRIOR
TO CVS TRANSACTION, WITH BETWEEN $10 MILLION TO $11 MILLION OF
CASH AND INVESTMENTS
    * MEDAVAIL HOLDINGS INC - CONTINUES TO CLOSELY EVALUATE
VARIOUS
FINANCINGS OPTIONS, INCLUDING WITH EXISTING SHAREHOLDERS
    * MEDAVAIL HOLDINGS - CURRENTLY ESTIMATES WILL INCUR
ONE-TIME
COSTS IN H1 2023 RELATED TO RESTRUCTURING TO BE ABOUT $6.5
MILLION
    * MEDAVAIL HOLDINGS INC - PHARMACY RECORDS AND INVENTORY
PURCHASED
BY CVS WILL BE TRANSFERRED FROM SPOTRX PHARMACIES TO NEARBY CVS
PHARMACY LOCATIONS

Source text for Eikon:  ID:nGNXhjtzk 
Further company coverage:  MDVL.O 
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