M&A Deal Summary

CVS Pharmacy Acquires MedAvail - SpotRx pharmacies

On January 26, 2023, CVS Pharmacy acquired life science company MedAvail - SpotRx pharmacies from MedAvail

Acquisition Highlights
  • This is CVS Pharmacy’s 2nd transaction in the Life Science sector.
  • This is CVS Pharmacy’s 3rd transaction in the United States.
  • This is CVS Pharmacy’s 1st transaction in Arizona.

M&A Deal Summary
Date 2023-01-26
Target MedAvail - SpotRx pharmacies
Sector Life Science
Buyer(s) CVS Pharmacy
Sellers(s) MedAvail
Deal Type Divestiture

Target

MedAvail - SpotRx pharmacies

Phoenix, Arizona, United States
MedAvail's SpotRx pharmacies are located in Tucson and Phoenix, Buena Park, Laguna Hills and San Fernando, Southfield, and in Orlando and Tampa. MedAvail's SpotRx pharmacies are based in Phoenix, Arizona.

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Buyer(S) 1

Buyer

CVS Pharmacy

Woonsocket, Rhode Island, United States
Category Company
Founded 1963
Sector Life Science
DESCRIPTION

CVS Pharmacy, Inc. is a retail pharmacy with over 7,800 CVS Pharmacy and Longs Drugs stores. CVS Pharmacy is reinventing pharmacy to help people on their path to better health by providing the most accessible and personalized expertise.

DEAL STATS #
Overall 3 of 4
Sector (Life Science) 2 of 3
Type (Divestiture) 3 of 3
State (Arizona) 1 of 1
Country (United States) 3 of 4
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-10 Schnuck Markets - Retail & Specialty Pharmacy Businesses

St. Louis, Missouri, United States

Schnuck Markets' Retail & Specialty Pharmacy Businesses operates 99 of the grocer's pharmacies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-28 Hoover Pharmacy

Palo Alto, California, United States

Hoover Pharmacy is a specialty & retail pharmacy based in the San Francisco Bay area focused on serving stanford medical campus patients.

Buy -

Seller(S) 1

SELLER

MedAvail

Phoenix, Arizona, United States
Category Company
Founded 2012
Sector Life Science
Employees287
Revenue 22M USD (2021)
DESCRIPTION

MedAvail is a technology-enabled pharmacy company, providing turnkey in-clinic pharmacy services through its proprietary robotic dispensing platform, the MedAvail MedCenter, and home delivery operations, to Medicare clinics. MedAvail helps patients to optimize drug adherence, resulting in better health outcomes. MedAvail was founded in 2012 and is based in Phoenix, Arizona.

DEAL STATS #
Overall 1 of 1
Sector (Life Science) 1 of 1
Type (Divestiture) 1 of 1
State (Arizona) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
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