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    LFMD   US53216B1044

LIFEMD, INC.

(LFMD)
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LifeMD : Partners With Prescryptive Health, Expanding Convenience and Affordability for Patients

08/30/2021 | 08:30am EDT

NEW YORK, Aug. 30, 2021 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ: LFMD), a leading direct-to-patient telehealth company, today announced its strategic partnership with Prescryptive Health (Prescryptive), a healthcare technology company empowering consumers by improving the way healthcare is delivered. The partnership is expected to accelerate growth for both companies by combining LifeMD’s expanding direct-to-patient telehealth brands and soon-to-launch primary care platform with Prescryptive’s best-in-class digital pharmacy fulfillment and e-prescribing technology platform.

The partnership will enable LifeMD to:

  • Leverage a nationwide network of partner pharmacies to improve delivery times for prescription and over-the-counter products creating an enhanced patient experience with a strengthened technology and fulfillment platform;
  • Dramatically expand the catalogue of medications available to users of the LifeMD platform;
  • Offer a prescription drug discount card program to its primary care patients, expanding access to important medications from over 50,000 pharmacies;
  • Expand into additional condition-specific offerings; and
  • Further augment its soon-to-launch primary care platform with best-in-class digital pharmacy capabilities.

Through Prescryptive’s network and technology, patients of LifeMD’s affiliated providers will gain access to a nationwide network of 50,000 pharmacies, including specialty and mail-order outlets. This, in turn, will strengthen LifeMD’s order fulfillment capabilities and dramatically increase convenience for its patients, especially for urgent medications. The strategic partnership advances LifeMD closer to its vision of delivering a fully comprehensive telehealth experience with a pharmacy infrastructure that provides peerless delivery times across all its telemedicine offerings.

“Pharmacy is a pillar of healthcare. At LifeMD, our goal is to make healthcare more affordable, more convenient, and more transparent. This Prescryptive partnership represents a major step forward towards that goal across our brands and emerging primary care platform,” said LifeMD Founder and CTO Stefan Galluppi. “Americans fill about six billion prescriptions each year. Through this partnership, we’re capable of offering massive price and rebate pass-throughs to patients that are on the LifeMD platform,” Galluppi said.

The strategic partnership will also vastly increase the number of medications available through LifeMD’s channels and offer HIPAA-compliant and mobile-centric access to prescription and fulfillment information, real-time notifications, and updates via text.

The strategic partnership will also broaden and accelerate LifeMD’s entry into the $500 billionU.S. prescription pharmacy market with innovative, co-branded digital pharmacy offerings. These will include a prescription drug discount card for members of LifeMD’s primary care platform, plus an expanded suite of condition-specific offerings.

“Empowering healthcare patients with information is at the core of what we do at Prescryptive, and we are honored to work with LifeMD,” said Chris Blackley, CEO of Prescryptive Health. “Together, we are delivering a modern digital healthcare experience with the transparency and simplicity that patients need.”

Galluppi noted that this strategic partnership enables a nationwide telehealth platform capable of delivering prescriptions direct to patients with same-or-next day delivery, resulting in best-in-class delivery times and customer service.

“Our strategic partnership is a major step forward in our mission of creating and providing elevated, cost-effective healthcare. Prescryptive’s unique capabilities allow us to think and act more boldly in shaping the telehealth experience,” Galluppi said. “Finally, we are most excited to integrate Prescryptive’s enhancements into our upcoming fully-comprehensive primary care platform, which will provide patients with cheaper, better, more accessible high-quality healthcare.”

About LifeMD
LifeMD, Inc. is a rapidly growing direct-to-patient telehealth company that offers cash-pay virtual medical care across all 50 states. LifeMD's telemedicine platform enables virtual access to affordable and convenient medical treatment from licensed providers and, when appropriate, prescription medications and over-the-counter products delivered directly to the patient's home. To learn more, go to LifeMD.com.

About Prescryptive Health
Prescryptive Health is a healthcare technology company delivering solutions that empower consumers. Prescryptive’s secure, mobile-first products connect consumers, pharmacists, and employers, ultimately providing people with the information they need to make informed decisions and take control of their health. To learn more about Prescryptive Health, visit www.prescryptive.com.

Cautionary Note Regarding Forward Looking Statements
This 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.

Company Contact
LifeMD, Inc.
Marc Benathen, CFO
Email Contact

Prescryptive Health Contact
Anne Coyle
Senior Director, Marketing
857-222-6363

Investor Relations Contacts
Ashley Robinson
LifeSci Advisors, LLC
arr@lifesciadvisors.com


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Source: LifeMD, Inc.

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Financials (USD)
Sales 2021 95,8 M - -
Net income 2021 -60,4 M - -
Net Debt 2021 - - -
P/E ratio 2021 -2,41x
Yield 2021 -
Capitalization 158 M 158 M -
Capi. / Sales 2021 1,65x
Capi. / Sales 2022 1,09x
Nbr of Employees 56
Free-Float 66,8%
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Mean consensus BUY
Number of Analysts 2
Last Close Price 5,18 $
Average target price 23,00 $
Spread / Average Target 344%
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Managers and Directors
Justin Schreiber Chairman & Chief Executive Officer
Alexander Mironov President
Marc Benathen Chief Financial Officer
Joseph V. DiTrolio Independent Director & Chief Medical Officer-US
Stefan Galluppi Director & Chief Technology Officer
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