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Why MedAvail Shares Are Surging Higher In After-Hours Trading Today

MedAvail Holdings Inc (NASDAQ: MDVL) is surging higher in Wednesday’s after-hours session after the company announced it signed an agreement with IMA Medical Group to open four SpotRx locations in Florida.

SpotRx is the retail pharmacy brand owned and operated by MedAvail in the United States.

In-clinic SpotRx kiosks and courier home delivery will be available to patients at four IMA Medical clinic locations in Florida.

“We are pleased to partner with the IMA group, broadening our footprint in Florida with the addition of this growing network of clinics that provides exceptional care to Medicare patients,” said Ed Kilroy, CEO of MedAvail. “We look forward to offering the convenience of our pharmacy services to IMA’s Medicare patients and continuing our efforts in Florida to address medication access and adherence.”

MedAvail is focused on the discovery, development and commercialization of advanced nutrition products that improve muscle health and performance.

MDVL Price Action: MedAvail has traded as high as $20.79 and as low as $2.82 over a 52-week period.

The stock was up 26.90% at $4.15 in after-hours trading at time of publication.

© 2021 Benzinga does not provide investment advice. All rights reserved.

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