OWINGS MILLS, Md., June 28 /PRNewswire-FirstCall/ -- Medifast, Inc. (NYSE: MED) a leading provider of clinically proven portion-controlled weight-loss programs, today announced its stock was added to the S&P SmallCap 600 GICS Personal Products Sub-Industry Index effective after the market close on Friday, June 25, 2010.
"We are pleased with our inclusion in the S&P SmallCap 600 Index, which reflects our 42 consecutive quarters of profitability and strong balance sheet," said Michael McDevitt, Medifast's chief executive officer. "We expect our addition to the S&P SmallCap 600 Index will help increase our visibility within the investment community and enhance shareholder value as we continue to execute on our strategic initiatives for long-term profitable growth and cash flow generation."
The S&P SmallCap 600 Index is designed to be an efficient portfolio of companies that meet specific inclusion criteria to ensure that they are investable and financially viable.
Medifast, Inc. (NYSE: MED) is a leading provider of clinically proven, portion-controlled weight-loss programs. Medifast has been recommended by over 20,000 doctors and used by over one million clients since 1980. The Company is committed to enriching lives by providing innovative choices for lasting health. Medifast programs have been proven effective through studies by major universities. 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) medically supervised 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, please visit http://www.choosemedifast.com.
Chief Financial Officer
SOURCE Medifast, Inc.