Medifast Announces Expansion into Canadian Market
OWINGS MILLS, Md., March 10, 2014 /PRNewswire/ -- Medifast, Inc. (NYSE: MED), a leading United States manufacturer and provider of portion-controlled meal replacement products and programs, announced today that it will expand its international presence by launching in Canada in the first quarter of 2014. Initially, this expansion will take place through Medifast Direct, the company's e-commerce sales channel, and Medifast Medical Providers, a network of health care providers who, where available, will offer Medifast's program and products.
"Expanding into Canada is a major step in reaching new customers and growing the Medifast brand globally," said Michael MacDonald, Chairman and CEO of Medifast. "We are particularly excited to establish relationships with Canadian consumers as well as health care providers who wish to help individuals reach and maintain weight-loss and weight-management goals using the Medifast plan."
At launch, the program will include a variety of 11 Medifast Meal Replacement foods with plans to expand the line over time. Medifast will offer its 5 & 2 & 2 Plan™ through the Canadian e-commerce site, MedifastNow.ca. A Quick Start Guide will be provided with each initial order as the program is introduced into the Canadian market. Additional support from Medifast's Nutrition Support team and Client Solutions Center will also be available. Health care providers who would like to learn more can visit MedifastMD.ca.
Medifast (NYSE: MED) is the leading easy-to-use, portion-controlled weight-loss program in the United States. Medifast was founded in 1980 and is located in Owings Mills, Maryland. For more information, log onto www.MedifastNow.com.
Statements contained in this press release that are not purely historical, such as the timing of the expansion and the number of products that will be included at launch, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this press release. Statements made in this press release that are forward-looking in nature may involve risks and uncertainties. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, without limitation, general economic conditions and the timing for receipt of required regulatory approvals for all of the products at launch. Although Medifast believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, readers should not place undue reliance on such forward-looking statements. Medifast undertakes no obligations to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
SOURCE Medifast, Inc.