Medifast's OPTAVIA Program Named #1 Weight Loss Program in the U.S. by Revenue for 2021*
BALTIMORE, Nov. 2, 2022 /PRNewswire/ -- Medifast (NYSE: MED), the global company behind one of the fastest-growing health and wellness communities, OPTAVIA®, today announced it was recognized by Euromonitor International, an independent market research firm. According to Euromonitor, Medifast's OPTAVIA Program was Named #1 Weight Loss Program in the U.S. by Revenue for 2021.*
Drawn from insights based on Medifast's 40 years of scientific and clinical heritage, the OPTAVIA program was designed as a holistic approach for consumers looking for a lifestyle solution, often starting with weight management and healthy eating. This evidence-based approach to health and wellbeing sets it apart from both traditional commercial weight loss programs and app-based solutions.
"We offer a simple yet comprehensive solution that helps consumers build healthy habits," said Dan Chard, Chairman and Chief Executive Officer of Medifast. "OPTAVIA has impacted more than two million lives through our approach that typically begins with weight loss but often serves as a catalyst for greater lifestyle changes. In the past five years, full-year revenue has increased by more than 455%. We are now looking to carve our path toward the larger health and wellness market and transform even more lives."
The fast-growing health and wellness company's revenue has consistently grown year-over-year – going from $501 million in 2018 to $1.526 billion in 2021 when OPTAVIA joined a select group of billion-dollar brands. Rising demand for OPTAVIA resulted in its independent OPTAVIA Coaches supporting over one million Clients in the last 12 months, as the majority of U.S. adults consider their health to be a top priority in life.**
Medifast will announce financial results for the third quarter, which ended September 30, 2022, on Thursday, November 3, 2022, at 4:30 p.m. ET. The conference call will be broadcast live over the Internet, hosted on the Investor Relations section of Medifast's website at MedifastInc.com or directly here, and will be archived online and available through November 17, 2022. To join via telephone, listeners may dial (855) 560-2579. A telephonic playback will be available from 6:30 p.m. ET, November 3, 2022, through November 10, 2022. Participants can dial (877) 344-7529 to hear the playback and enter passcode 5231199.
About Medifast:
Medifast (NYSE: MED) is the global company behind one of the fastest-growing health and wellness communities, OPTAVIA®, which offers scientifically developed products, clinically proven plans and the support of independent OPTAVIA Coaches and a Community to help Customers achieve Lifelong Transformation, One Healthy Habit at a Time®. As the publicly traded market leader by revenue in the U.S. $7 billion weight management industry, the company has impacted more than 2 million lives through its Community of OPTAVIA Coaches, who teach Customers how to develop holistic healthy habits through the proprietary Habits of Health® Transformational System. Medifast was recognized in 2022 as one of America's Best Mid-Sized Companies by Forbes, in 2020 and 2021 as one of FORTUNE's 100 Fastest-Growing Companies and was named to Forbes' 100 Most Trustworthy Companies in America list in 2017. For more information, visit MedifastInc.com or OPTAVIA.com and follow @Medifast on Twitter.
*Source Euromonitor International Limited; based on custom research conducted in Q2/2022; value sales for structured weight loss and meal replacement programs in 2021.
**Methodology: This online survey of 2,000 U.S. adults was commissioned by Medifast and conducted by market research company OnePoll, in accordance with the Market Research Society's code of conduct. Data was collected between April 21 and April 22, 2022. All participants are paid an amount depending on the length and complexity of the survey. This survey was overseen and edited by the OnePoll research team, who are members of the MRS and have corporate membership to ESOMAR and AAPOR.
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SOURCE Medifast
