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The brand launch into tele-dermatology adds further portfolio diversification into exciting and fast-growing area of patient healthcare
NEW YORK, April 07, 2021 (GLOBE NEWSWIRE) -- LifeMD, Inc. (the “Company”) (NASDAQ: LFMD), a leading direct-to-patient telehealth company, today announced the successful launch of NavaMD™. The NavaMD website went live at the end of the first quarter of fiscal 2021 and is the Company’s personalized tele-dermatology brand and clinic, offering services to patients across all 50 states.
Justin Schreiber, Chairman and CEO commented, “We are pleased to bring the NavaMD brand to life in 2021, as this will be LifeMD’s third successful brand launch in four years. We are an early mover in the $40 billion-dollar high growth direct-to-patient tele-dermatology space and are well-positioned to grow market share. By empowering patients seeking telehealth services, we feel that LifeMD is best positioned to actively bring about a sea change in both the convenience and accessibility by which patients receive personalized services and medications when needed. As such, we remain focused on refining customer acquisition strategies and building a de-risked brand portfolio that addresses low risk, massively underpenetrated and addressable markets such as the NavaMD clinical skincare offering.”
“By focusing on fast growing, therapeutic areas with high unmet needs, whose treatments are proven to be safe, we are creating the best runway for unrivaled growth in telehealth customer acquisition, recurring revenues and return on shareholder value,” mentioned Stefan Galluppi, Chief Technology Officer.
NavaMD’s services will be available to any patient seeking dermatology services. Service offerings include the diagnosis and treatment of prevalent skin conditions such as acne, rosacea, hyperpigmentation, signs of aging, and other prevalent skin conditions. NavaMD’s customer acquisition strategy will be primarily set to growing its female customer base, fully supported by best-in-class direct response marketing, social media, and influencer campaigns. Online medical treatment and services will be rendered through LifeMD’s network of U.S. licensed physicians, pharmacies, and, if appropriate, prescription oral and compounded topical medications to treat many common dermatological conditions. In addition to the brand’s telemedicine offerings, NavaMD’s proprietary products leverage intellectual property and proprietary formulations licensed from Restorsea, a leading medical grade skincare technology platform. NavaMD is the first external provider to offer Restorsea’s patented medical-grade over-the-counter products for treating these prevalent skin conditions.
Like other LifeMD brands, NavaMD tele-dermatology services is highly personalized, powered by a proprietary technology stack. The engagement with patients is seamless and is driven by a simple three-step customer journey consisting of:
Completing a free consultation: whereby a questionnaire and patient photo is submitted for review.
Getting prescribed a custom formulated treatment regimen: NavaMD’s licensed U.S. doctors, and clinicians then work to design a custom prescription skincare treatment. A quick and convenient checkout process powered by LifeMD’s telehealth platform fills a prescription.
The patient receives a personalized treatment by mail: LifeMD’s pharmacy services prepares and delivers a customer’s custom prescription treatment on a monthly recurring basis or as often as needed.
LifeMD, Inc. (formerly Conversion Labs) is a leading telehealth company that is transforming the healthcare landscape with direct-to-patient product and service offerings. 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.
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 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. While we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to LifeMD, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
LifeMD™, Shapiro MD™, Rex MD™ and Nava MD™ are trademarks of LifeMD. All other trademarks are the property of their respective owners.
Marc Benathen, CFO
Investor Relations Contact
LifeSci Advisors, LLC