LifeMD up on strategic alliance with Medifast

LifeMD

13/12/2023 14:11

** Shares of telehealth service provider LifeMD  LFMD.O 
rise about 12% to $9.1 premarket
    ** Co reports strategic alliance with health and wellness
co, Medifast  MED.N  that sells a variety of weight loss, weight
management and healthy living products
    ** Under the terms of the agreement, LFMD's telehealth
platform will be utilised to provide MED's clients access to a
clinically supported weight management program, including GLP-1
medications
    ** The class of drugs known as GLP-1 receptor agonists
trigger a feeling of fullness after eating and slow gastric
emptying 
    ** Medifast has invested $20 mln, including a $10 million
payment in support of the collaboration and a $10 mln purchase
of LifeMD common stock
    ** As of last close, LFMD stock up 317.4% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))