Full Press Release Details
and Medifast Partner to Offer Transformative Weight Management Solution
will integrate LifeMD's telehealth platform and GLP-1 offering for medically qualified patients with OPTAVIA Coach-guided,
healthy lifestyle solution
has invested $20 million, including a $10 million payment in support of the collaboration and a $10 million purchase of LifeMD common
call to discuss LifeMD and Medifast collaboration begins at 10:00 AM EST today
YORK, Dec. 13, 2023 - LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, today
announced a strategic alliance with Medifast (NYSE: MED), the health and wellness company known for its habit-based and coach-guided
lifestyle solution OPTAVIA . Under the terms of the agreement, Medifast will utilize LifeMD's virtual
care technology platform to provide OPTAVIA Clients access to a clinically supported weight management program, including GLP-1
medications. This collaboration further establishes LifeMD in a market that is projected to reach $100 billion by 2030.1 In
addition, LifeMD will have the ability to offer its patients an independent OPTAVIA Coach and other lifestyle support services
as part of its weight management program.
collaboration is intended to create a comprehensive, accessible, and coordinated approach to combating the escalating obesity public
health crisis. By blending LifeMD's and Medifast's best-in-class capabilities, the collaboration uniquely offers clinical
care complemented by one-on-one OPTAVIA Coach support, clinically proven plans and scientifically developed products, a proprietary
Habits of Health Transformational System, as well as community support, delivering a complete solution for effective weight management.
part of the agreement, Medifast has invested $20 million into LifeMD, including $10 million in contributions to support the collaboration,
funding enhancements to the LifeMD platform, operations and supporting infrastructure, and a $10 million purchase of LifeMD's common
lifestyle programs and individualized support with top-tier medical care and prescription therapeutics, like GLP-1 medications, is crucial
for improving and sustaining metabolic health outcomes," said Justin Schreiber, Chairman and CEO of LifeMD. "Medifast's
proven coaching model and its established OPTAVIA brand is tightly aligned with LifeMD's innovative virtual care platform
and network of affiliated clinicians. This synergy is not just complementary; it significantly amplifies LifeMD's impact in the
weight loss sector. With Medifast's extensive client base and our advanced virtual care services, we believe that together we are
exceptionally positioned to redefine the weight management industry."
and LifeMD agreed to collaborate following a successful pilot program focused on providing personalized support centered on holistic
health rather than weight loss alone. A recent Medifast-commissioned survey revealed that over 40% of consumers with a BMI greater than
27 are interested in prescription weight-loss medication, with even higher interest among those needing to lose more than 35 pounds.2
LifeMD's robust technology platform, along with its clinician-driven model - including providers licensed across all
50 states - is uniquely suited to support Medifast's position as a leader in the U.S. weight management industry.
is a pivotal moment for our business as we take the next step in an aggressive transformation to drive growth in this evolving health
and wellness landscape," said Dan Chard, Chairman and CEO of Medifast. "Millions of people are seeking a solution that I
believe we are uniquely positioned to provide. Together, Medifast and LifeMD expect to offer a comprehensive health offering starting
with weight management, built around a powerful model of support that includes an independent OPTAVIA Coach and a board-certified
affiliated clinician. Both companies have a long-standing scientific and clinical heritage and share a commitment to helping people make
living a healthy lifestyle second nature."
is known for its habit-based and coach-guided lifestyle solution, OPTAVIA, which provides a simple yet comprehensive approach
to help achieve lasting optimal health and wellbeing. OPTAVIA offers clinically proven plans, scientifically developed products
and a framework for habit creation reinforced by 47,100 active earning coaches,3 about 90% of whom started as customers, and
community support. As a physician-founded company with a 40+ year history, Medifast is a leader in the U.S. weight management industry
and has impacted more than 3 million lives to date.
and Medifast management will hold a conference call to discuss this transaction and answer questions today beginning at 10:00 AM EST.
The call will be broadcast live over the Internet, hosted on the Investor Relations section of LifeMD's investor website at www.ir.lifemd.com
or directly here and will be archived online and available through March 13, 2024. In addition, listeners may dial (877) 451-6152
to join via telephone. A telephonic playback will be available from 2:00 PM EST, December 13, 2023, through December 20, 2023. Participants
can dial (844) 512-2921 and enter access code 13743024 to hear the playback. Slides describing the announcement are available at www.ir.lifemd.com.
is a leading provider of virtual primary care. LifeMD offers telemedicine, laboratory and pharmacy services, and specialized treatment
across more than 200 conditions, including primary care, men's health, women's health, allergy & asthma, and dermatology.
Leveraging a vertically-integrated, proprietary digital care platform, a 50-state affiliated medical group, and a U.S.-based patient
care center, LifeMD is elevating healthcare by increasing access to top-notch and affordable care. For more information, please visit
Note Regarding Forward-Looking Statements
news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section
21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform
Act of 1995. Forward-looking statements contained in this news release may be identified by the use of words such as: "believe,"
"expect," "anticipate," "project," "should," "plan," "will,"
"may," "intend," "estimate," predict," "continue," and "potential,"
or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking
statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance
and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving
regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the
effects of any of the foregoing on our future results of operations or financial condition.
statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations,
beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy,
and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements
relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult
to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may
differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited
to, "Risk Factors" identified in our filings with the Securities and Exchange Commission, including, but not limited to,
our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results,
performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative
of our actual results, performance, or financial condition in subsequent periods.
forward-looking statement made in the news release is based on information currently available to us as of the date on which this release
is made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future
events, or otherwise, except as may be required under applicable law or regulation.
Benathen, Chief Financial Officer
Friedeman, Chief Marketing Officer
Terence Flynn, Framing the Mounjaro bull case in diabesity, Morgan Stanley Research, September,
Independent research commissioned by Medifast, June 2023
As publicly announced for Q3 2023