Medifast Announces Partnership with The V Foundation for Cancer Research

OWINGS MILLS, Md., Feb. 11, 2014 /PRNewswire/ -- Medifast, Inc. (NYSE: MED), a leading United States manufacturer and provider of clinically proven, portion-controlled weight-loss products and programs announced today its partnership with The V Foundation for Cancer Research, one of the nation's leading cancer research funding organizations. As part of this multi-faceted partnership with The V Foundation, Medifast will fund research grants that explore the link between obesity and cancer and the impact of healthy living on preventing cancer-related diseases.

The partnership will kick off with the Medifast Slam Dunk Contest. Medifast will match clients' contributions to The V Foundation, which can be made at MedifastNow.com and at corporate Medifast Weight Control Centers from February 10 to March 10, 2014.  Additional events will be announced throughout the year with support from each of Medifast's distribution channels.

"Partnering with an outstanding organization like The V Foundation for Cancer Research is an extremely proud moment for Medifast, and we are humbled by the opportunity to help make a difference in a way that is very personal to us," said Mike MacDonald, Chairman and Chief Executive Officer of Medifast. "Our corporate contributions, event partnerships, and client contributions throughout the year combined with our matched funds will help The V Foundation continue their essential and urgent work in finding cures for cancer and builds upon our mission to support healthy living."

"We cannot express how grateful we are that Medifast is making The V Foundation for Cancer Research a priority," said Susan Braun, CEO of The V Foundation for Cancer Research. "This important partnership with Medifast provides critical support as we work to put an end to cancer. This is a natural fit for our organization, and we are excited to do great work together."

The first in a series of events, the Slam Dunk Contest commences on February 10 and runs through March 10, 2014.  No purchase, payment, or donation of any kind is necessary to enter or win the contest.  Additional terms and conditions apply. Please see MedifastNow.com for Official Contest Rules. Contestants may voluntarily donate to The V Foundation for Cancer Research at the time of entry into the contest. The Grand Prize package includes two (2) round-trip air transportation tickets, five (5) nights lodging, two (2) tickets to the Men's NCAA Semi-Finals and Championship college basketball games, and two (2) tickets to the Slam Dunk Concert with Darius Rucker at Gilley's in Dallas, TX.  The Total package is valued at approximately $5000.   

All received donations directly benefit The V Foundation for Cancer Research, which has funded more than $115 million in cancer research grants nationwide, with 100 percent of cash donations funding cancer research.

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About Medifast:

Medifast (NYSE: MED) is the leading easy-to-use, clinically proven, portion-controlled weight-loss program. 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 personal coaching division, 3) Medifast Weight Control Centers, and 4) a national network of physicians. Medifast was founded in 1980 and is located in Owings Mills, Maryland. For more information, log onto www.MedifastNow.com.

About The V Foundation:

The V Foundation for Cancer Research was founded in 1993 by ESPN and the late Jim Valvano, legendary North Carolina State basketball coach and ESPN commentator. Since 1993, The Foundation has funded more than $115 million in cancer research grants nationwide. It awards 100 percent of all direct cash donations to cancer research and related programs. Due to generous donors, the Foundation has an endowment that covers administrative expenses.  The Foundation awards peer-reviewed grants through a competitive awards process strictly supervised by a Scientific Advisory Board. For more information on The V Foundation or to make a donation, please visit www.jimmyv.org.   

SOURCE Medifast, Inc.