Medifast, Inc. engages in the production, distribution, and sale of weight loss, weight management, and healthy living products and other consumable health and diet products. The company primarily operates through its wholly owned subsidiaries, such as Jason Pharmaceuticals, Inc.; Take Shape For Life, LLC; Jason Enterprises, Inc.; Medifast Franchise Systems (MFSI), Inc.; Jason Properties, LLC; Medifast Nutrition, Inc.; and Seven Crondall, LLC. The company’s product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins. The company manufactures a major portion of its products at its manufacturing facility located in Owings Mills, Maryland. Products The company offers various weight loss, weight management, and healthy living products under the Medifast, Thrive by Medifast, Optimal Health by Take Shape For Life, and Essential 1 brands. In January 2016, the company announced the launch of a sports nutrition product line, Dual Fuel, which would be available for select private label customers. The Medifast meal replacement line includes approximately 70 options, including but not limited to, bars, bites, pretzels, puffs, cereal crunch, drinks, eggs, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups. The Thrive by Medifast and Optimal Health by Take Shape For Life lines include various specially formulated bars, shakes, and smoothies for those who are maintaining their weight for long-term healthy living. Medifast meals are individually portioned, calorie- and carbohydrate-controlled meal replacements that share a similar nutritional ‘footprint’ and provide a balance of protein and good carbohydrates, including fiber. Medifast meal replacements are also fortified to contain 24 vitamins and minerals, as well as other nutrients essential for good health. Marketing In 2015, the company continued to build and leverage its core Medifast brand through multiple marketing strategies for each distribution channel, such as Take Shape For Life, Medifast Direct (direct-to-consumer channel), Medifast Weight Control Centers, and Medifast Wholesale. Agreements The company has a three-year strategic partnership with Medix, which provides pharmaceutical obesity products in Mexico. The agreement granted Medix a license for the distribution of the company’s products and programs through physicians and weight control centers in Mexico under the Medifast brand. The company and Medix have amended their agreement to provide a five-year licensing agreement to increase distribution of Medifast meal replacement products and programs beyond Mexico and into Argentina, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru, Venezuela, and Uruguay. Seasonality Sales of the company's weight management products and programs have historically been seasonal. Traditionally, predisposition of consumers not to initiate a weight loss or management program during the holiday season impacts the fourth quarter (year ended December 2015) with fewer sales of weight management products and services. January and February generally show increases in sales, as these months are considered the commencement of the ‘diet season’. Governmental Regulation The formulation, processing, packaging, labeling, marketing, advertising and selling of the company's products is subject to regulation by federal, state and local agencies. Products must comply with the Federal Food Drug and Cosmetic Act, the Food Safety Modernization Act, the Federal Trade Commission Act, State Consumer Protection laws, and various other federal, state and local statutes and regulations applicable in localities in which the company’s products are made or are sold. The Federal Trade Commission has principal regulatory control over the company’s advertising and trade practices, its enforcement powers are aimed at protecting the consumer from being deceived by unfair marketing and trading practices. Competition The company’s identified peers and competitors in the general health and wellness diet industry include NutriSystem Inc.; Herbalife Ltd.; USANA Health Sciences; and Weight Watchers International, Inc. History Medifast, Inc., a Delaware corporation, was founded in 1980. The company was incorporated in 1993.
medifast inc (MED:New York)
3600 Crondall Lane
Owings Mills, MD 21117
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