MedAvail Holdings (MDVL) Announces CFO Transition

MedAvail Holdings, Inc. (Nasdaq: MDVL) (“MedAvail” or the “Company”) a technology-enabled pharmacy company, today announced that Ryan Ferguson has informed the Company of his intention to step down as Chief Financial Officer to pursue other opportunities effective July 31, 2021. Mr. Ferguson has agreed to transition his responsibilities as Chief Financial Officer to his interim successor, Brian Schlerf. Following his departure, Mr. Ferguson expects to remain available to MedAvail in a consulting or part-time capacity to facilitate a smooth transition to a permanent successor.

Mr. Schlerf, MedAvail’s current Corporate Controller, will serve as interim Chief Financial Officer effective upon Mr. Ferguson’s resignation as the Company completes its search for a permanent replacement. The Board of Directors has engaged a search firm to identify the Company’s next Chief Financial Officer.

“We thank Ryan for all his contributions, especially in shepherding our efforts to become a public company and building a talented finance team at MedAvail. He helped to position our company for durable growth and we wish him well in his future endeavors,” said Ed Kilroy, Chief Executive Officer of MedAvail. “We anticipate effecting a smooth transition over the next few months and we have great confidence in Brian’s ability to lead the finance team on an interim basis.”

“It has been a privilege to work alongside the MedAvail team and to have been a part of the company’s growth story to date,” said Mr. Ferguson. “Stepping down was a difficult decision for me, and I am confident that MedAvail is on a solid path forward with the current leadership team under Ed’s leadership.”

Mr. Schlerf joined MedAvail in 2021 as Corporate Controller and has since been responsible for the accounting and finance functions of the Company. He has extensive public company experience with responsibilities leading SEC reporting, operational accounting, and tax organizations. His recent experience includes roles with Marathon Petroleum Corporation (NYSE: MPC), Andeavor (formerly NYSE: ANDV), and Western Refining, Inc. (formerly NYSE: WNR, NYSE: WNRL, and NYSE: NTI) where, prior to being acquired by Andeavor and Marathon, he served as VP and Chief Accounting Officer. Mr. Schlerf was a senior manager in the audit practice at Deloitte, holds an MBA from Arizona State University and a BS in Accounting from Brigham Young University. He also holds an active CPA certification.

Mr. Ferguson’s departure is not related to any disagreement with the Company’s accounting principles or practices or financial statement disclosures.

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