LifeMD partners with Medifast, secures $20M investment for weight management collaboration

LifeMD, Inc.

Medifast invests $20M total: $10M platform support payment and $10M purchase of 1,224,425 LifeMD shares at $8.1671/share.
Collaboration integrates LifeMD's telehealth and GLP-1 offering with Medifast's OPTA VIA coach-guided lifestyle program.
LifeMD issued shares in private placement to Medifast subsidiary; Medifast gets non-voting board observer rights.
Platform support payments: $5M at closing, $2.5M by March 31, 2024, and $2.5M by June 30, 2024 upon milestones.
Companies aim to offer comprehensive weight management solution addressing projected $100B market by 2030.

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