What is MedAvail?
Founded in 2012 and headquartered in Mississauga, Ontario, MedAvail operates at the intersection of retail pharmacy and automated healthcare technology. The company specializes in the deployment of self-service kiosks that function as automated pharmacy units, allowing patients to receive prescription medications with increased convenience and reduced wait times. By integrating these kiosks into clinical settings, MedAvail effectively bridges the gap between traditional pharmacy benefit management and digital-first patient care solutions. The company's business model is built upon the premise of enhancing operational efficiency for healthcare systems while simultaneously improving the end-user experience for patients requiring immediate access to pharmaceutical products.
How much funding has MedAvail raised?
MedAvail has raised a total of $137.6M across 4 funding rounds:
Series A
$7M
Series C
$30M
Unspecified
$16.6M
Unspecified
$84M
Series A (2011): $7M, investors not publicly disclosed
Series C (2014): $30M led by Adage Capital Management, L.P., Redmile Group, Walgreens Inc., Alliance Boots GmbH, Pura Vida Investments, LLC, and Deerfield
Unspecified (2018): $16.6M supported by Pura Vida Investments, Redmile Group, Express Scripts, Lewis & Clark Venture Capital, Adage Capital Management, and Deerfield
Unspecified (2020): $84M featuring Lewis & Clark Venture Capital LLC, ADAGE CAPITAL MANAGEMENT LP, PURA VIDA INVESTMENTS LLC, Cigna Ventures, Redmile Group , LLC, Ally Bridge Group, Maven Investment Partners, and Heights Capital Management,
Key Investors in MedAvail
Deerfield Management
Deerfield Management is a prominent investment firm dedicated to advancing healthcare through a combination of capital, market intelligence, and philanthropic initiatives.
Walgreens Inc.
Walgreens is a leading American retail pharmacy and healthcare services provider, leveraging its extensive national network to support innovative pharmacy solutions.
Ally Bridge Group
Ally Bridge Group is a global healthcare investment firm specializing in high-impact life science innovation and private equity strategies across the healthcare sector.
What's next for MedAvail?
Looking ahead, MedAvail is poised to leverage its recent enterprise-level financing to accelerate the deployment of its kiosk network across North America. The strategic focus will likely shift toward deepening partnerships with large-scale healthcare providers and managed care organizations to integrate its technology into broader digital health ecosystems. As the industry moves toward more automated and patient-centric care models, MedAvail's ability to scale its hardware-software hybrid solution will be paramount. Future growth initiatives are expected to prioritize market penetration in high-density clinical environments, further cementing the company's role as a vital component of the modern pharmacy infrastructure.
See full MedAvail company page
