LifeMD® Launches Affiliated Pharmacy to Drive End-to-End Patient Care and Operational Efficiency

State-of-the-Art Pharmacy Completes LifeMD’s End-to-end Healthcare Platform, Supporting 5,000 Daily Orders, Improving Operating Margins, and Enabling Curated Care Journeys

NEW YORK, Nov. 06, 2024 (GLOBE NEWSWIRE) — LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, today announced the official opening of its state-of-the-art affiliated pharmacy, marking an important milestone in creating a fully integrated, end-to-end telehealth platform. This new 22,500-square-foot facility, located in Lancaster, PA and designed to fill up to 5,000 daily prescriptions, allows LifeMD to offer patients a more cohesive care journey for relevant conditions — from initial consultation to prescription fulfillment — within a single integrated ecosystem.

The launch of this pharmacy uniquely enhances LifeMD’s vertically integrated telehealth platform, which now includes a proprietary virtual-first care technology platform, a 50-state affiliated medical group, a U.S.-based patient care center, and a vertically integrated pharmacy. The integration of pharmacy services directly within the LifeMD platform is expected to yield substantial financial benefits, with LifeMD projecting approximately $5 million in annualized expense savings. LifeMD’s affiliated pharmacy is expected to be licensed in all 50 states, Washington D.C., and Puerto Rico by the end of the year.

Transformative Benefits of the New LifeMD Pharmacy:

• Complete, End-to-End Patient Experience: With the addition of pharmacy capabilities, LifeMD now offers a fully integrated and cohesive experience, ensuring continuity of care at every stage — from consultation and diagnosis to medication fulfillment — all managed within the LifeMD platform.
• Enhanced Capacity: With current capacity to process up to 5,000 daily prescriptions and the ability to expand, the pharmacy is poised to support LifeMD’s rapidly growing patient base, ensuring faster and more reliable medication delivery. This capacity will also enable the pharmacy to eventually support LifeMD’s expanding GLP-1 medication offerings.
• Cost Savings: By integrating pharmacy services, LifeMD projects annualized expense savings of approximately $5 million. These savings enhance operating margins and enable further investments in patient care and platform enhancements.
• Curated Patient Experience: The pharmacy allows LifeMD to deliver a personalized experience, including customized care packages and bundled shipments that combine prescription and wellness products, tailored to each patient’s unique needs and health journey.

“The launch of our affiliated pharmacy represents a transformative milestone for LifeMD as we become one of the few fully integrated telehealth providers in the country,” said Justin Schreiber, Chairman and CEO of LifeMD. “This facility will allow us to deliver a truly curated, end-to-end care experience that not only improves patient convenience and satisfaction, but also enhances the quality and affordability of care. With patients now offered a fully integrated journey, we are uniquely positioned to set a new standard in patient-centric telehealth and personalized healthcare.”

With its ecosystem, LifeMD is redefining virtual care through a holistic, vertically integrated model that combines purpose-built technology, a nationwide medical network, and a fully integrated pharmacy solution. This comprehensive infrastructure allows LifeMD to anticipate and meet the evolving needs of patients, offering unmatched convenience and continuity of care.

About LifeMD, Inc.

LifeMD is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men’s and women’s health, weight management, and hormone therapy. The Company leverages a vertically integrated, proprietary digital care platform, a 50-state affiliated medical group, a 22,500-square-foot affiliated pharmacy, and a U.S.-based patient care center to increase access to high-quality and affordable care. For more information, please visit LifeMD.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.

Investor Contact
Marc Benathen, Chief Financial Officer
marc@lifemd.com

Media Contact
Jessica Friedeman, Chief Marketing Officer
press@lifemd.com