LifeMD, Medifast partner on weight management solution

LifeMD (LFMD) announced a strategic alliance with Medifast (MED). 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 $100B by 2030. 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. This 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. As part of the agreement, Medifast has invested $20M into LifeMD, including $10M in contributions to support the collaboration, funding enhancements to the LifeMD platform, operations and supporting infrastructure, and a $10M purchase of LifeMD’s common stock.