MedAvail Technologies Inc., a Toronto, Canada-based healthcare solution company, completed a $30m Series C financing.
The round was led by Pura Vida Investments LLC with participation from Deerfield Management Company and Adage Capital Management, all new investors, and existing investors Redmile Group, Walgreens Inc., and Alliance Boots GmbH. In conjunction with the funding, Dr. Frank Litvack of Pura Vida Investments, joined MedAvail’s Board of Directors.
MedAvail intends to use the proceeds to fund the commercialization of the MedAvail MedCenter®.
Led by Ed Kilroy, Chief Executive Officer, MedAvail Technologies is a healthcare solution company which commercializes the MedAvail MedCenter – a consumer-facing prescription-drug dispensing kiosk providing live two-way audio-visual interaction with a remote pharmacist. The solution will be deployed in sites including hospitals, clinics, retail locations, pharmacies and employer sites.
Deployments of the MedCenter™ are currently ramping up in the US, Canada and Europe.