LifeMD, Inc. (Nasdaq: LFMD), a
leading provider of virtual primary care services, today announced
the formal launch of its GLP-1 weight management program following
a successful pilot earlier this year. The formal launch of LifeMD’s
weight management program coincides with bespoke platform
enhancements built to support and personalize patient weight loss
journeys, including treatment with prescription GLP-1 medications.
LifeMD now offers a complete end-to-end solution for weight
management, including a mobile application, clinician-directed
customized treatment plans, interactive tracking tools, treatment
information, and personalized educational resources.
The platform enhancements further support a comprehensive weight
management program based on LifeMD’s unique approach to primary
care. The program offers direct and consistent access to leading
medical providers who oversee all aspects of the weight loss
journey, including medical intake, diagnostic testing, treatment,
and ongoing clinical support. If deemed clinically appropriate,
eligible participants are provided access to GLP-1 medications like
Wegovy and Ozempic. LifeMD’s enhanced weight management patient
portal serves as a convenient hub for patients, providing
step-by-step guidance, partnerships to assist with insurance
coverage, continuous access to a dedicated care team, and the
option for on-demand consultations with a LifeMD-affiliated
provider.
"There are multiple factors that influence a person's ability to
lose weight and maintain it, and GLP-1 receptor agonists have
proven to be a valuable catalyst for many individuals to kick-start
this process," said Justin Schreiber, Chairman and Chief Executive
Officer of LifeMD. "At LifeMD, we are dedicated to helping
qualified patients access these groundbreaking drugs while ensuring
that they receive evidence-based guidelines and the highest
standard of care. Our program not only offers new hope in
addressing the obesity epidemic, but it also promotes healthier
lifestyle choices and sustainable long-term health benefits. We are
delighted to see the positive traction in our weight management
efforts, which has more than doubled the revenue run-rate of our
primary care business since the pilot launch."
“LifeMD sets itself apart as a leading provider of primary care,
prioritizing the overall health and well-being of patients, rather
than solely focusing on weight loss," said Dr. David Culpepper, MD,
FACP, Clinical Director of LifeMD's affiliated medical group. “As
we treat patients with conditions aggravated by weight, the
significance of addressing obesity as a long-term chronic disease
becomes even more apparent. GLP-1 medications offer benefits beyond
just numbers on a scale; they support patients' metabolic health in
the long run. With the help of LifeMD’s technology, we are creating
customized care journeys that foster a close patient-provider
relationship and provide more personalized support."
GLP-1 receptor agonists are an injectable non-insulin type 2
diabetes medication that are FDA approved to help lower blood sugar
and aid in weight management. In 2022, more than 5 million
prescriptions for Ozempic, Mounjaro, Rybelsus, and Wegovy were
written for patients with and without diabetes, compared with just
over 230,000 in 2019—a 2,082% increase, according to data from
Komodo Health. Analysts project that the global market for obesity
therapeutics could reach $100 billion by 2030, and Barclays
estimates the weight management drug industry could reach $200
billion within the next decade.
To learn more about the LifeMD Weight Management Program, click
here.
About LifeMDLifeMD 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 US-based patient care
center, LifeMD is elevating healthcare by increasing access to
top-notch and affordable care. For more information, please visit
LifeMD.com.
Cautionary Note Regarding Forward Looking
StatementsThis 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.
Forward-looking 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.
Any 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.
Media Contact press@lifemd.com
Company Contact LifeMD, Inc. Marc Benathen,
CFOmarc@lifemd.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7aa52446-63dc-4883-9b1f-76273514311c
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