OWINGS MILLS, Md., Feb. 5 /PRNewswire-FirstCall/ -- Medifast, Inc. (NYSE: MED), a leading portion-controlled weight-loss program, today announced that Executive Chairman of the Board Bradley MacDonald has been selected to participate in Leadership Maryland.
Founded in 1992, Leadership Maryland is an independent, educational, non-profit organization designed to inform top-level executives from the public and private sectors about the critical issues, challenges, and opportunities facing the state of Maryland and its regions. MacDonald is one of 46 accomplished and talented statewide leaders selected to participate in the eight-month program.
"I'm honored to be selected to participate in Leadership Maryland, and am excited to be making a valuable contribution to the program," said MacDonald. "At Medifast, we are proud to be founded and based in Maryland, and are dedicated to fighting the obesity epidemic and spreading a message of health."
Since the turnaround of Medifast in 1999, MacDonald has built the company from $5 million in revenues to over $100 million in revenues in 2008, and 36 consecutive quarters of profitability. This growth was spurred by MacDonald's sound management decisions, the introduction of key products to the market, and a financially responsible business model. As a result, Medifast is poised to continue to grow during the current economic climate and create new opportunities to further entrench itself as an industry leader.
During this time, MacDonald has grown Medifast from just 25 employees in the Owings Mills corporate offices to now employing close to 300 Marylanders. Medifast has been a leader in building a diverse team of leaders and board members with both African-Americans and women serving in key management and board positions.
Medifast has also been a leader in taking risks to provide community development and employment. Under MacDonald's watch, Medifast revived the town of Ridgely, Md., where in 2001 the Company opened a distribution center employing 15 residents. Now Medifast is the largest employer in Ridgely with over 100 employees in distribution, IT, digital printing, inventory, and quality control.
MacDonald was designated the Ernst & Young "Entrepreneur of the Year" for the consumer products category in 2006. In 2007, at age 60, he promoted Michael S. McDevitt to CEO and Margaret Sheetz to President, providing for an orderly management succession that has already proved to be extraordinarily successful as is demonstrated by the growth in revenues and profits.
"Everyone at Medifast is extremely proud of Brad's selection to Leadership Maryland," said McDevitt. "His dedication to helping Americans regain health and to his community goes unmatched."
MacDonald is very active in the Maryland community, serving on various boards. He serves as a Trustee of Stevenson University; in 2008 was elected Vice Chairman of the United States Marine Corps Reserve Toys for Tots Foundation; serves as a member of the Development Board of the Augustinian Order, Villanova, Pa; and is a Board Member of the HOA of Sunset Island, Ocean City, Md.
Following a two-day opening retreat in April, participants will attend five two-day and one one-day intense sessions focusing on issues such as economic development, education, health and human services, criminal and juvenile justice, environment, and multi-culturalism/diversity. More than 100 experts representing business, government, education, and the non-profit community will serve as panelists and guest speakers.
Medifast (NYSE: MED) is the leading easy-to-use, clinically proven portion-controlled weight-loss program. Medifast has been recommended by 15,000 doctors and used by over one million customers. It is committed to enriching lives by providing innovative choices for lasting health. Medifast programs have been proven effective through studies by major university teaching hospitals. The company sells its products and programs via four unique distribution channels: 1) the web and national call centers, 2) the Take Shape For Life direct-selling division 3) national network of physicians, and 4) medically supervised Medifast Weight Control Centers. Medifast was founded in 1980 and is located in Owings Mills, Maryland. For more information, log onto http://www.choosemedifast.com.
Contact: Brian Gleason 410-504-8260 email@example.com
|SOURCE Medifast, Inc.|
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