Local franchisee to open four Medifast Weight Control Centers in Baltimore
market
OWINGS MILLS, Md., Feb. 18 /PRNewswire-FirstCall/ -- Medifast, Inc.
(NYSE: MED) today announced that Medifast Franchise Systems has sold its
first franchise of Medifast Weight Control Centers. The Company has sold
the rights to open four Medifast Weight Control Centers in the Greater
Baltimore Metropolitan Area.
The entire build-out process will take no more than two years to
complete. The franchisee also has the right to open four additional
Medifast Weight Control Centers in the Baltimore area over the next two
years, bringing the total to eight locations.
"The sale of the first Medifast Weight Control Centers franchise is an
important development in the growth of our business, and presents an
exciting growth opportunity for potential franchisees," said Michael S.
McDevitt, Chief Executive Officer, Medifast, Inc. "Our headquarters is in
the Baltimore area, so having Medifast Weight Control Centers locally makes
perfect sense from both a business and a community aspect."
In December 2007, Medifast Franchise Systems received approval to sell
franchises in Maryland, as well as in California, Illinois, Minnesota, New
York, Rhode Island, and Virginia. The Medifast Weight Control Centers
franchise opportunity is now available in 43 states nationwide.
Medifast Weight Control Centers offers guaranteed results in a
medically- supervised program. Each patient receives a customized solution
to his or her weight-loss needs, and can expect to lose an average of two
to five pounds per week. Behavior modification tools to help individuals
change their overall lifestyles are also part of the program.
The Company currently operates 11 corporate-owned Medifast Weight
Control Centers in Texas and Florida, and will open three more Centers in
Houston by mid-March. The Company plans to open an additional 20
corporate-owned Centers over the next two years in selected markets.
For more information on this business opportunity, please visit
http://www.MedifastCenters.com.
Franchisee Requests:
Rick Logsdail
Vice President of Sales
Medifast Franchise Systems
410-504-8180
RLogsdail@ChooseMedifast.com
MED-G
About Medifast:
Medifast (NYSE: MED) is the leading easy-to-use, clinically proven
portion-controlled weight loss program. Medifast has been recommended by
15,000 physicians and used by over one million customers. It is committed
to enriching lives by providing innovative choices for lasting health.
Medifast programs have been proven effective through studies by major
university teaching hospitals. The company sells its products and programs
via four unique distribution channels: 1) the web and national call
centers, 2) national network of physicians, 3) medically supervised
Medifast Weight Control Centers, and 4) the Take Shape For Life
direct-selling division, a network of health coaches. Medifast was founded
in 1980 and is located in Owings Mills, Maryland. For more information, log
onto http://www.ChooseMedifast.com.
Please Note: This release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
Section 21E of the Securities Exchange Act of 1934, as amended, and the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements generally can be identified by use of phrases or terminology
such as "intend" or other similar words or the negative of such
terminology. Similarly, descriptions of Medifast's objectives, strategies,
plans, goals or targets contained herein are also considered
forward-looking statements. Medifast believes this release should be read
in conjunction with all of its filings with the United States Securities
and Exchange Commission and cautions its readers that these forward-looking
statements are subject to certain events, risks, uncertainties, and other
factors. Some of these factors include, among others, Medifast's inability
to attract and retain independent Associates and Members, stability in the
pricing of print, TV and Direct Mail marketing initiatives affecting the
cost to acquire customers, increases in competition, litigation, regulatory
changes, and its planned growth into new domestic and international markets
and new channels of distribution. Although Medifast's believes that the
expectations, statements, and assumptions reflected in these forward-
looking statements are reasonable, it cautions readers to always consider
all of the risk factors and any other cautionary statements carefully in
evaluating each forward-looking statement in this release, as well as those
set forth in its latest Annual Report on Form 10-K and Quarterly Report on
Form 10-Q, and other filings filed with the United States Securities and
Exchange Commission, including its current reports on Form 8-K. All of the
forward-looking statements contained herein speak only as of the date of
this release.
SOURCE Medifast, Inc.
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Related links:
http://www.ChooseMedifast.com
http://www.MedifastCenters.com
CONTACT:
Brian Gleason of Medifast, Inc.,
+1-410-504-8260, BGleason@ChooseMedifast.com
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