Welcome to our dedicated page for Lifemd news (Ticker: LFMDP), a resource for investors and traders seeking the latest updates and insights on Lifemd stock.
News for LifeMD, Inc. 8.875% Series A Cumulative Perpetual Preferred Stock (Nasdaq: LFMDP) is closely tied to developments at LifeMD, Inc., the issuer of this preferred security. LifeMD regularly publishes updates about its virtual primary care and pharmacy operations, financing activities, and corporate governance, all of which can be relevant to investors following LFMDP.
Company announcements describe LifeMD as a provider of virtual primary care services and pharmacy solutions, with telemedicine, laboratory access, and pharmacy services supporting treatment across more than 200 conditions. News items highlight growth in telehealth revenue, expansion into areas such as weight management, women’s health, mental and behavioral health, and cardiometabolic care initiatives, and the evolution of its virtual care platform.
Investors tracking LFMDP can expect news related to LifeMD’s clinical programs, including collaborations with pharmaceutical manufacturers. Recent releases discuss expanded collaboration with Novo Nordisk, access to Wegovy and Ozempic within LifeMD’s weight management program, and the addition of the Wegovy pill to its virtual obesity care offering. Other updates cover developments in women’s health programs, including the appointment of clinical advisors, and the scaling of men’s health and RexMD-branded services.
Corporate and financial news is also significant for LFMDP followers. LifeMD has issued press releases on quarterly financial results, changes in independent registered public accounting firms, the divestiture of its majority interest in WorkSimpli Software LLC to focus on virtual care and pharmacy, and the establishment of a revolving credit facility. The company has additionally announced quarterly cash dividends on the 8.875% Series A Cumulative Perpetual Preferred Stock.
By reviewing the LFMDP news feed, readers can monitor how LifeMD’s virtual care strategy, partnerships, financial decisions, and governance updates may influence the context in which this preferred stock operates. Regular news provides a consolidated view of operational milestones and capital structure developments that matter to preferred and common equity holders alike.
LifeMD (Nasdaq: LFMD) has launched the acceptance of private health insurance for its virtual primary care services, including weight management, in selected states. This initiative aims to provide broader coverage options nationwide by 2025, with plans to start accepting Medicare early next year. The company intends to enhance access to high-quality, affordable care and improve clinical outcomes and patient retention rates through this phased rollout. Initially, patients will benefit from significantly reduced out-of-pocket costs for non-covered services, coupled with a streamlined claims submission and prior authorization process.
LifeMD (Nasdaq: LFMD) will participate in the Truist Securities Healthcare Disruptors & Digital Health Summit on June 25-26, 2024, at the Lotte New York Palace, New York City. CEO Justin Schreiber will join a panel discussion on “Weight Management/Diabetes Care: Tools to Manage Cost vs Benefit.” Additionally, LifeMD management will hold one-on-one meetings with institutional investors. Interested investors should contact their Truist Securities representative for more details.
LifeMD (Nasdaq: LFMD) will join the Russell 3000 Index after the 2024 Russell U.S. Indexes annual reconstitution. This inclusion will take effect at the start of U.S. equity markets on July 1, 2024. The Russell 3000 Index captures the 4,000 largest U.S. stocks by market capitalization. Membership means automatic inclusion in either the Russell 1000 or Russell 2000 Index, along with the corresponding growth and value style indexes. This inclusion reflects LifeMD's growth in providing affordable primary care and other healthcare services. The Russell indexes, managed by FTSE Russell, serve as benchmarks for approximately $10.5 trillion in assets. The annual rebalancing ensures the indexes accurately represent market segments.
LifeMD reported a strong first quarter of 2024 with a 33% revenue increase year-over-year to $44.1 million. Telehealth revenue grew by 53% compared to the previous year. The company raised full-year revenue guidance to at least $205 million, showing growth in all business segments. Weight management subscribers surpassed 50,000, with cash-adjusted EBITDA at $4.8 million, a 108% increase. The company generated $5.2 million in cash flow and had a $2.0 million net increase in cash during the quarter.
LifeMD, Inc.® (Nasdaq: LFMD) partners with Withings Health Solutions to enhance virtual patient care for GLP-1 weight-loss patients. By providing advanced in-home health monitoring devices, LifeMD aims to improve patient outcomes through real-time data, drive compliance, and enhance clinical decision-making. This partnership sets a new standard in virtual care, revolutionizing weight management patient care and supporting chronic care management.
LifeMD, Inc. announced the appointment of Dr. Calum MacRae, a renowned clinician and researcher at Harvard Medical School, to its Board of Directors. Dr. MacRae's expertise in cardiology and chronic disease management will enhance the company's virtual primary care services. His track record in implementing innovative solutions and leveraging technology in healthcare is expected to drive LifeMD's growth and improve patient care.
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