Last week we announced a strategic alliance with Medifast, Inc (NYSE: MED), the health and wellness company known for its habit-based and coach-guided lifestyle solution OPTAVIA®. As part of the agreement, Medifast has invested $20 million into LifeMD, including $10 million in contributions to support the collaboration, funding enhancements to our platform, operations, and supporting infrastructure, and a $10 million purchase of LifeMD’s common stock. The collaboration uniquely integrates one-on-one coach support, clinical care, nutrition programs, healthy habits and community support.
“Medifast's proven coaching model and its established OPTAVIA brand are highly 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 medical support services, we are exceptionally positioned to redefine the weight management industry,” said Justin Schreiber, our Chairman and CEO.
Read more on our website.
ir.lifemd.com/press-release-…