Medifast

#8858

Rank

$149.15M

Marketcap

United States

Country

Leadership team

Mr. James P. Maloney CPA (Chief Financial Officer)

Mr. Daniel R. Chard (Exec. Chairman & CEO)

Mr. Anthony E. Tyree (Chief Marketing Officer)

Products/ Services

Fitness, Health Care, Wellness

Number of Employees

1,000 - 20,000

Headquarters

Owings Mills, Maryland, United States

Established

1981

Company Registration

SEC CIK number: 0000910329

Net Income

100M - 500M

Revenue

Above - 1B

Traded as

MED

Social Media

URL

https://medifastinc.com

Overview

Location

Recognition and Award

References

Summary

Medifast, Inc., through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. The company offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serves, shakes, smoothies, soft bakes, and soups under the OPTAVIA, Optimal Health by Take Shape for Life, and Flavors of Home brands. It markets its products through point-of-sale transactions over ecommerce platform. The company was founded in 1980 and is headquartered in Baltimore, Maryland.

History

William Vitale, a medical doctor, founded Medifast in 1980. He sold his products directly to other doctors, who in turn prescribed them to their patients.The company is publicly traded on the New York Stock Exchange .On July 17, 1995, HealthRite changed its name from Vitamin Specialties Corp.

In 2001, the company changed its name to Medifast, Inc. In 2002, Retired Marine Colonel Bradley T. MacDonald and Chairman of the Board at the time, along with clinical specialist Dr. Wayne Scott Andersen, created Take Shape For Life as a personal Coach to Client system and the company’s “Habits of Health System.” In October 2010, Medifast was ranked number 1 on Forbes magazine's list of "America's 100 Best Small Companies". The company was ranked 18th as of the 2014 list.Medifast was named one of Forbes 100 Most Trustworthy Companies in America in 2016 and 2017.In July 2017, Medifast changed the name of its subsidiary Take Shape For Life to Optavia and introduced a new line of products, Optavia Essentials, directly sold from Coaches to clients.In October 2017, Medifast relocated its headquarters to Baltimore from Owings Mills, Maryland. The company is public with a market capitalization of $2.106 billion, as of June 2022.

Mission

Medifast is on a mission to enrich lives by providing innovative choices for lasting health.

Vision

We are passionate about offering hope to those who yearn to be healthy but haven't found the way. Obesity is both a physical and emotional problem, and any customer who comes to us for help is always treated with dignity, care, and respect.

Key Team

Ms. Lauren Walker (Exec. VP of Supply Chain Operations)

Mr. Nicholas M. Johnson (Pres of Coach & Client Experience)

Mr. Jonathan Barrett MacKenzie (VP of Fin. & Chief Accounting Officer)

Mr. Jason L. Groves Esq. (Exec. VP, Gen. Counsel & Corp. Sec.)

Ms. Claudia C. Greninger (Exec. VP of HR)

Recognition and Awards

Medifast has been recognized by the Better Business Bureau, the Weight Management Council and the International Affiliate of the Year Award. Medifast is also a member of the Direct Selling Association and a leader in the industry.