Digital pharmacy Medly lays off nearly half of staff; founder exits

Medly, a digital pharmacy that offers free, same-day delivery of medications, has reduced its workforce by almost half while its founder has exited the company.

Medly let go of 110 of its 231 employees on Aug. 31 — 45 from its Brooklyn headquarters and 65 from its pharmacy department, according to a Sept. 2 filing with the New York State Department of Labor. The company labeled the reason for the decision as "economic."

Separately, company founder Marg Patel stepped down as CEO a few weeks ago, he said in a Sept. 7 LinkedIn post.

"I can't emphasize how proud I am of the company's current and former employees for all we have accomplished together," he wrote. "In the past five years, we organically built Medly from a few family-owned pharmacies to a pioneer in the digital pharmacy industry with 50 locations spanning the nation.

The move follows a string of layoffs at digital pharmacies in 2022 amid broader struggles in the digital health industry.

Medly previously said in August that it was laying off 16 percent of its staff. The company didn't respond to a request from Becker's for comment.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars