OWINGS MILLS, Md., June 12 /PRNewswire-FirstCall/ -- Medifast, Inc. (NYSE: MED) today announced that it plans to increase the build out of new corporate-owned Medifast Weight Control Centers. Earlier in the year, the Company stated it would be more conservative in the build out, and analyze the success of the model throughout the year. As a result of strong success, the Company will be expanding its investment in this area.
Despite the economic environment, Medifast, Inc. has seen tremendous growth of in-store revenues and average store sales and has experienced a strong opening in its recent expansion into the Austin, Texas market. Due to this success, Medifast, Inc., plans to open 10 new corporate centers in Texas and Florida which will expand the presence in the markets where the Company currently has centers. The Company intends to continue to monitor the success of this model and anticipates continued expansion into new markets throughout 2010.
"The Medifast Weight Control Center model continues to prove itself and exceed expectations," said Michael S. McDevitt, Chief Executive Officer, Medifast, Inc. "We believe this is due to the fact that consumers, in tough times, demand value and superior service. Medifast Weight Control Centers provide a tremendous value in a location-based setting for the consumer looking for a proven weight-control program with initial medical evaluation and accountability."
Medifast, Inc. also intends to expand the Medifast Weight Control Center franchise-owned model. This model has already sold rights to 19 franchise-owned Medifast Weight Control Centers, including 10 which are currently open and operating in San Diego, Phoenix, Baltimore and San Ramon Calif., and two additional franchise-owned centers opening in 2009 in Tracey, Calif., and Chandler, Ariz. Medifast, Inc. recently sold the rights to a new franchisee in Tucson, Ariz., who has the right to open three centers over the next five years.
The heart and soul of the Medifast Weight Control Center program is the behavior lifestyle change approach and accountability, along with a weight-loss services guarantee. The Center helps each client design a personal program based on their lifestyle. Together the Center and client determine an achievable weight-loss program based on a personal profile analysis and an in-body scan that shows exactly where the fat is and how much weight the patient needs to lose, so there is no guessing.
Medifast Weight Control Centers offer the Medifast Program, which has been recommended by more than 15,000 doctors since 1980, along with a weight-loss services guarantee. Medifast Weight Control Centers offer a proven, safe, and effective option for clients who need personal support during their weight loss.
About Medifast, Inc.:
Medifast (NYSE: MED) is the leading easy-to-use, clinically proven, portion-controlled weight-loss program. Medifast has been recommended by over 15,000 doctors since 1980 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) 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.
|SOURCE Medifast, Inc.|
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