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.
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Investor Contact
Marc Benathen, Chief Financial Officer
marc@lifemd.com
Media Contact
Jessica Friedeman, Chief Marketing Officer
press@lifemd.com
