About LifeMD

LifeMD, Inc., a direct-to-patient telehealth company, provides patients a way of accessing comprehensive virtual healthcare. The LifeMD telehealth platform seamlessly integrates a clinician-centric electronic medical record (EMR) system, proprietary algorithms for case-load balancing and scheduling, customer relationship management (CRM) functionality, remote and in-home lab testing, and digital prescription capabilities, patient-provider audio/video interfacing, cloud pharmacy fulfillment, and more. The company’s proprietary technology platform, combined with its 50-state affiliated provider network, enables the management of virtual treatment offerings and complex patient journeys for hundreds of conditions spanning men’s and women’s health, dermatology, urgent, and primary care, chronic care management and more. The company’s telehealth offerings in general seek to connect patients to licensed providers for diagnoses, virtual care, and prescription medications when appropriate. The company also offers over-the-counter (OTC) products that are complementary to the conditions it treats. The company’s virtual primary care services are primarily offered on a subscription basis. The company plans to build a diverse portfolio of differentiated telehealth service offerings that meet the needs of a growing and diversified patient base. The company has helped approximately 680,000 customers and patients, providing them greater access to high-quality, convenient, and affordable care in all 50 states. In addition to its telehealth business, the company owns 73.64% of WorkSimpli, which operates PDFSimpli, a rapidly growing software as a service platform for converting, signing, editing, and sharing PDF documents. Platform The company is delivering seamless end-to-end virtual healthcare to consumers. The company’s platform enables it to deliver modern personalized health experiences and offerings through its websites and mobile applications, spanning customer discovery, purchase, and connection with licensed providers, to pharmacy and OTC order fulfillment, through ongoing care. The company’s proprietary platform also facilitates and accelerates the development and launch of novel offerings throughout clinical protocol establishment, marketing, and fulfillment. Its offerings are sold to consumers on a subscription basis thus creating convenience and discounted pricing opportunities for patients and recurring revenue streams for the company. The company’s offerings range from prescription medication fulfilled on a recurring basis, to complementary OTC products, to ongoing care from a team of medical providers. In general, the company’s offerings seek to serve a patient from beginning to end, starting from brand or offering discovery to the medical intake and product selection process, after which a licensed the United States (U.S.) physician conducts a virtual consultation and determines a treatment plan. As appropriate, prescription medications and OTC products are filled by pharmacy fulfillment partners, and if preferred, shipped directly to the patient. The number of patients and customers the company serves across the nation continues to increase at a robust pace, with more than 680,000 individuals having purchased its products and services to date. Serving as a robust CRM system, and with built in analytics and integrations with best-in-class performance marketing platforms, the company’s platform also enhances its ability to effectively and efficiently acquire new patients and customers and drive brand visibility through strategic media placements, influencer partnerships, and direct response advertising methods across highly scalable marketing channels (i.e., national TV, streaming TV, streaming audio, YouTube, podcasts, Out of Home, print, magazines, online search, social media, and digital). The company leverages its telehealth technology platform and services across the three core areas described below: Direct-to-Consumer Virtual Primary Care In the first quarter of 2022, the company launched its flagship virtual primary care offering under the LifeMD brand, LifeMD PC. This offering provides patients in all 50 states with 24/7 access to an affiliated high-quality provider for their primary care, urgent care, and chronic care needs. LifeMD’s virtual primary care offering is a mobile-first full-service destination that provides seamless access to high-quality clinical care, including virtual consultations and treatment, prescription medications, diagnostics, and imaging, wellness coaching and more. This offering is also supported by robust partnerships that provide the company’s patients benefits, such as substantial discounts on lab work and a prescription discount card that can be presented at over 60,000 pharmacies to save up to 92% on their prescription medication. Direct-to-Patient Telehealth The company also leverages its telehealth platform’s provider network, cloud pharmacy, and EMR capabilities across its direct-to-patient telehealth brands. The company’s telehealth brands RexMD, ShapiroMD, NavaMD, and Cleared address largely unaddressed or underserved needs and are leading destinations in their respective treatment verticals of men’s health, hair loss, dermatology, and immunology. RexMD is a men’s telehealth platform brand that offers access to virtual medical treatment for a variety of men’s health needs. After treatment from an affiliated licensed physician, if appropriate, one of the company’s partner pharmacies will dispense and ship prescription medications and OTC products directly to the customer. Since RexMD’s initial launch in the erectile dysfunction treatment market, it has expanded into additional indications, including but not limited to, premature ejaculation, testosterone, and hair loss. RexMD is a leading men’s telehealth platform across the U.S. and has served more than 390,000 customers and patients with a 4.6-star Trustpilot rating. ShapiroMD offers access to virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and Food and Drug Administration (FDA) approved medical devices treating male and female hair loss through the company’s telehealth platform. ShapiroMD has emerged as a leading destination for hair loss treatment across the U.S. and has served more than 260,000 customers and patients. NavaMD is a female-oriented, tele-dermatology brand that offers access to virtual medical treatment from dermatologists and other providers, and, if appropriate, prescription oral and compounded topical medications to treat dermatological conditions, such as aging and acne. In addition to the brand’s telehealth offerings, NavaMD’s proprietary products leverage intellectual property and proprietary formulations licensed from Restorsea, a leading medical grade skincare technology platform. Cleared is a telehealth brand that provides personalized treatments for allergy, asthma, and immunology. Offerings include in-home tests for both environmental and food allergies, prescriptions for allergies and asthma, and FDA-approved immunotherapies for treating chronic allergies. Cleared leverages a network of affiliated medical professionals and providers in all 50 states, various pharmaceutical partners, and treatments and tests that cost up to 50 percent less than the brand-name competition. The offerings include free consultations, prescription medication, complementary OTC products, and ongoing care from the U.S.-licensed allergists and nurses. Enterprise Telehealth Offerings The company’s unique telehealth technology platform and virtual clinical expertise is well-positioned to address the unmet needs of healthcare product companies as they relate to digital patient awareness, access to care, adherence and compliance. Majority Owned Subsidiary: WorkSimpli Software, LLC (WorkSimpli) WorkSimpli operates PDFSimpli, an online software as a service platform that allows users to create, edit, convert, sign, and share PDF documents. WorkSimpli was acquired through the purchase of 51% of the membership interests of WorkSimpli Software LLC, a Puerto Rico limited liability company, which operates a marketing-driven software solutions business. In addition to WorkSimpli’s growth business model, this acquisition added deep search engine optimization and search engine marketing expertise to the company. On January 22, 2021, the company consummated a transaction and increased its ownership of WorkSimpli to 85.6%. Effective September 30, 2022, two option agreements were exercised which further restructured the ownership of WorkSimpli. As a result, the company’s ownership interest in WorkSimpli decreased to 73.64%. WorkSimpli was ranked in the top 7,840 websites globally, with more than 40 million registrants. WorkSimpli has converted or edited over 258 terabytes of documents for customers from the legal, financial, real-estate and academic sectors. WorkSimpli had over 167,000 active subscriptions as of December 31, 2022. Customers The company’s customer base includes men and women seeking virtual primary care and virtual medical treatment for hair loss, men’s sexual health issues, dermatology, and allergy and asthma. Government and Environmental Regulation The company’s business is heavily regulated by the U.S. Food and Drug Administration (FDA) and the Federal Trade Commission (FTC). The company’s hair loss products are regulated as cosmetics under the Federal Food, Drug and Cosmetic Act (FDCA). Under the U.S. regulations, its products must comply with certain labeling requirements enforced by the FDA and FTC. Since the company receives, uses, transmits, discloses and stores personally identifiable information, including health-related information, the company is subject to numerous state and federal laws and regulations that address privacy, data protection and the collection, storing, sharing, use, transfer, disclosure and protection of certain types of data. Such regulations include the CAN-SPAM Act, the Telephone Consumer Protection Act of 1991, the criminal healthcare fraud provisions of the federal Health Insurance Portability and Accountability Act of 1996, as amended by the Health Information Technology for Economic and Clinical Health Act (HITECH), and their implementing regulations, which the company collectively refers to as HIPAA, Section 5(a) of the Federal Trade Commission Act, and the California Consumer Privacy Act (CCPA). With respect to the company’s telehealth platform, it contracts with its physician-owned professional corporation, LifeMD PC, to deliver the company’s telehealth offerings to its patients in the U.S. Intellectual Property The company registers its principal brand names in the U.S. and certain foreign countries. Its material trademarks include ShapiroMD Hair Growth Experts and Cleared. Trademark applications have been filed and are being prosecuted for RexMD, LifeMD and NavaMD. The company has two U.S. patents relating to its Shapiro MD products’ method for the treatment of hair loss with a combination of natural ingredients with one granted on March 24, 2015 and the other on January 3, 2017. History The company was founded in 1994. It was incorporated in 1994. It was formerly known as Anina Resources, Inc. and changed its name to Immudyne, Inc. and its jurisdiction to the state of Wyoming by continuance in September 1987. In 1994, the company changed its jurisdiction to Delaware. Further, the company changed its name to Conversion Labs, Inc. in 2018 and then to LifeMD, Inc. in 2021.