Labcorp Elevates Employee Health Benefits with WeightWatchers for Business Full-Spectrum Weight Health Platform
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The partnership between WeightWatchers and Labcorp signifies a strategic move within the corporate wellness sector, reflecting a broader trend where companies are increasingly integrating comprehensive health and wellness programs into their employee benefits. This collaboration is particularly noteworthy as it leverages WeightWatchers' expertise in behavior change programs and Labcorp's extensive employee base, potentially setting a precedent for similar initiatives within the industry.
From a business perspective, the deal could enhance WeightWatchers' competitive positioning by showcasing the scalability and effectiveness of its weight health platform when deployed across a large workforce. For Labcorp, offering such a program may lead to improved employee health outcomes, which can translate into lower healthcare costs, higher productivity and reduced absenteeism. These factors are critical as businesses seek to manage escalating healthcare expenses and foster a healthier workforce.
Moreover, the inclusion of GLP-1 medications, which are typically used for diabetes management and weight loss, indicates an advanced level of care within the program. This aspect could appeal to employees with specific clinical needs, further differentiating the program and potentially leading to better health outcomes and employee satisfaction.
The expansion of WeightWatchers for Business within Labcorp underlines the growing importance of employer-sponsored health initiatives. Companies are recognizing that investing in employee wellness programs is not only beneficial for the workforce but also for the organization's bottom line. The comprehensive nature of the program, which includes virtual clinic care and medication management, reflects a shift towards more holistic and personalized approaches to employee health.
By offering these services at no cost to employees and their eligible family members, Labcorp is positioning itself as a forward-thinking employer. This could serve as a valuable recruiting and retention tool, especially in a competitive job market where health benefits can be a significant differentiator. Additionally, the focus on sustained health outcomes through science-backed behavior-change programs aligns with the preventive health care model, which is gaining traction as a cost-effective way to manage long-term health risks.
The announcement of the deepened partnership between WeightWatchers and Labcorp has potential implications for the stock market performance of both companies. For WeightWatchers, the expanded deal with Labcorp could signal to investors the company's ability to secure large-scale corporate contracts, which may be viewed as a growth driver and a positive indicator of future revenue streams. As WeightWatchers continues to diversify its offerings beyond consumer weight management into corporate wellness solutions, it could attract further interest from institutional investors seeking exposure to the health and wellness sector.
For Labcorp, the investment in employee health could be seen as a proactive measure to control operational costs related to healthcare benefits. If the program leads to measurable improvements in employee health metrics, it could result in reduced insurance premiums and healthcare-related expenses for Labcorp. This could potentially be reflected in the company's financial performance, making it an area of interest for investors focused on companies with sustainable cost management strategies.
NEW YORK and BURLINGTON, N.C., Feb. 07, 2024 (GLOBE NEWSWIRE) -- WeightWatchers (NASDAQ: WW), (“WeightWatchers,” “WW,” or the “Company”) today announced that Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, is deepening its existing partnership with WeightWatchers for Business to offer their full-spectrum weight health platform, with individualized pathways of both behavioral and clinical interventions, available at no cost to Labcorp’s U.S. employees. Spouses and domestic partners covered under a Labcorp medical plan are also eligible.
WeightWatchers for Business is the complete weight health platform designed for employers, payers, and health plans, providing science-proven behavior change programs, access to virtual clinic care, and medication management for those eligible.
“We’ve had a long-standing collaboration with WeightWatchers for Business, and we’re excited to expand on that partnership with this new comprehensive offering for our employees,” said Brian Caveney, M.D., Chief Medical and Scientific Officer, Labcorp. “From implementation to client management, WeightWatchers for Business makes it easy for Labcorp to offer our employees some of the best, most streamlined, and easy-to-navigate programs to meet and sustain their weight health goals.”
For nearly a decade, Labcorp has been a valued client of WeightWatchers for Business, incorporating its behavioral program into its benefits offerings. Building on the existing partnership, Labcorp and WeightWatchers for Business will expand this benefit to offer a full-spectrum weight health platform for Labcorp employees and their eligible spouses and domestic partners. This comprehensive approach delivers individualized pathways based on clinical need and is designed to optimize both the experience and outcomes for members. The result is an end-to-end solution covering everything from behavioral programs to access to clinical evaluations and treatment options, as well as medication management for those eligible and in need of a high-touch solution. Highlights of the program include:
- WeightWatchers’ science-backed behavior-change programs for sustained outcomes - including the #1 doctor-recommended Points Program,1 as well as weight management programs tailored to those living with diabetes and those on GLP-1 medications.
- Access to virtual clinic care and medication management for those eligible, including GLP-1s, when appropriate, under the guidance of board-certified clinicians as well as registered dietitians, fitness specialists, and care coordinators.
- Robust virtual and real-life community coaching support at scale and integrated health insights.
“Labcorp and WeightWatchers for Business share a philosophy of opening access to a full spectrum of clinically proven weight health tools and resources,” said Amy Meister, D.O., Chief Medical Officer, WeightWatchers. “Implementing this comprehensive program reflects Labcorp’s commitment to their employees to ensure they have the holistic support they need to achieve sustained health outcomes.”
About WW International, Inc.
WeightWatchers is a human-centric technology company powered by our proven, science-based, clinically effective weight loss and weight management programs. For six decades, we have inspired millions of people to adopt healthy habits for real life. We combine technology and community to help members reach and sustain their goals on our programs. To learn more about the WeightWatchers approach to healthy living, please visit ww.com. For more information about our global business, visit our corporate website at corporate.ww.com.
About Labcorp
Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's more than 60,000 employees serve clients in over 100 countries, worked on over
1 Based on a 2020 IQVIA survey of 14,000 doctors who recommend weight-loss programs to patients.
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