LifeMD divest majority interest in WorkSimpli Software

LifeMD (LFMD) announced the sale of its majority ownership interest in WorkSimpli Software in a transaction valuing WorkSimpli at an enterprise value of approximately $65M. The buyer group was led by WorkSimpli founder and CEO Sean Fitzpatrick, with support from a private investment group. Under the terms of the agreement, LifeMD received approximately $22M in cash at closing, representing 91.6% of the $24M base purchase price attributable to the 80% interest sold, with a portion of these proceeds held back subject to adjustments for net working capital, cash, closing date indebtedness, and company transaction expenses. The sellers are eligible to receive up to an additional $28M in cash upon WorkSimpli achieving defined growth and operational targets over the next three years. The transaction closed on November 4, 2025. Following the divestiture, LifeMD will concentrate its resources on expanding its virtual care and pharmacy offerings, with a continued focus on weight management, women’s health, behavioral health, urgent care, and primary care. The Company also plans to broaden its platform into more complex, longitudinal cardiometabolic care offerings beginning in the first half of 2026. In addition, LifeMD will continue to scale its Rex MD product portfolio, which is primarily focused on asynchronous men’s healthcare, e-pharmacy solutions, and men’s hormonal health. The transaction was executed through a Stock Purchase Agreement between LifeMD and the purchasers, and includes customary representations, warranties, and indemnification provisions.