Local franchisee to open four Medifast Weight Control Centers in Baltimore
OWINGS MILLS, Md., Feb. 18 /PRNewswire-FirstCall/ -- Medifast, Inc. (NYSE: MED) today announced that Medifast Franchise Systems has sold its first franchise of Medifast Weight Control Centers. The Company has sold the rights to open four Medifast Weight Control Centers in the Greater Baltimore Metropolitan Area.
The entire build-out process will take no more than two years to complete. The franchisee also has the right to open four additional Medifast Weight Control Centers in the Baltimore area over the next two years, bringing the total to eight locations.
"The sale of the first Medifast Weight Control Centers franchise is an important development in the growth of our business, and presents an exciting growth opportunity for potential franchisees," said Michael S. McDevitt, Chief Executive Officer, Medifast, Inc. "Our headquarters is in the Baltimore area, so having Medifast Weight Control Centers locally makes perfect sense from both a business and a community aspect."
In December 2007, Medifast Franchise Systems received approval to sell franchises in Maryland, as well as in California, Illinois, Minnesota, New York, Rhode Island, and Virginia. The Medifast Weight Control Centers franchise opportunity is now available in 43 states nationwide.
Medifast Weight Control Centers offers guaranteed results in a medically- supervised program. Each patient receives a customized solution to his or her weight-loss needs, and can expect to lose an average of two to five pounds per week. Behavior modification tools to help individuals change their overall lifestyles are also part of the program.
The Company currently operates 11 corporate-owned Medifast Weight Control Centers in Texas and Florida, and will open three more Centers in Houston by mid-March. The Company plans to open an additional 20 corporate-owned Centers over the next two years in selected markets.
For more information on this business opportunity, please visit
Vice President of Sales
Medifast Franchise Systems
Medifast (NYSE: MED) is the leading easy-to-use, clinically proven portion-controlled weight loss program. Medifast has been recommended by 15,000 physicians 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) national network of physicians, 3) medically supervised Medifast Weight Control Centers, and 4) the Take Shape For Life direct-selling division, a network of health coaches. Medifast was founded in 1980 and is located in Owings Mills, Maryland. For more information, log onto http://www.ChooseMedifast.com.
Please Note: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as "intend" or other similar words or the negative of such terminology. Similarly, descriptions of Medifast's objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Medifast believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Medifast's inability to attract and retain independent Associates and Members, stability in the pricing of print, TV and Direct Mail marketing initiatives affecting the cost to acquire customers, increases in competition, litigation, regulatory changes, and its planned growth into new domestic and international markets and new channels of distribution. Although Medifast's believes that the expectations, statements, and assumptions reflected in these forward- looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.
|SOURCE Medifast, Inc.|
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