LifeMD Partners With Prescryptive Health, Expanding Convenience and Affordability for Patients
LifeMD, Inc. (NASDAQ: LFMD) announced a strategic partnership with Prescryptive Health, enhancing its telehealth capabilities. This collaboration will provide LifeMD with access to a nationwide pharmacy network and a digital pharmacy fulfillment platform. Key benefits include improved delivery times for prescriptions, expanded medication offerings, and the introduction of a prescription drug discount program. This initiative aims to strengthen LifeMD's position in the $500 billion U.S. prescription pharmacy market and enhance patient access to healthcare services.
- Access to a nationwide network of 50,000 pharmacies.
- Improved delivery times for prescription medications.
- Expansion of medication catalogue available on LifeMD's platform.
- Introduction of a prescription drug discount card program.
- Strategic entry into the $500 billion U.S. prescription pharmacy market.
- None.
Strategic partnership provides LifeMD with a vertically integrated, best-in-class pharmacy fulfillment and e-prescribing technology platform and immediate access to nationwide pharmacy network
NEW YORK, Aug. 30, 2021 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ: LFMD), a leading direct-to-patient telehealth company, today announced its strategic partnership with Prescryptive Health (Prescryptive), a healthcare technology company empowering consumers by improving the way healthcare is delivered. The partnership is expected to accelerate growth for both companies by combining LifeMD’s expanding direct-to-patient telehealth brands and soon-to-launch primary care platform with Prescryptive’s best-in-class digital pharmacy fulfillment and e-prescribing technology platform.
The partnership will enable LifeMD to:
- Leverage a nationwide network of partner pharmacies to improve delivery times for prescription and over-the-counter products creating an enhanced patient experience with a strengthened technology and fulfillment platform;
- Dramatically expand the catalogue of medications available to users of the LifeMD platform;
- Offer a prescription drug discount card program to its primary care patients, expanding access to important medications from over 50,000 pharmacies;
- Expand into additional condition-specific offerings; and
- Further augment its soon-to-launch primary care platform with best-in-class digital pharmacy capabilities.
Through Prescryptive’s network and technology, patients of LifeMD’s affiliated providers will gain access to a nationwide network of 50,000 pharmacies, including specialty and mail-order outlets. This, in turn, will strengthen LifeMD’s order fulfillment capabilities and dramatically increase convenience for its patients, especially for urgent medications. The strategic partnership advances LifeMD closer to its vision of delivering a fully comprehensive telehealth experience with a pharmacy infrastructure that provides peerless delivery times across all its telemedicine offerings.
“Pharmacy is a pillar of healthcare. At LifeMD, our goal is to make healthcare more affordable, more convenient, and more transparent. This Prescryptive partnership represents a major step forward towards that goal across our brands and emerging primary care platform,” said LifeMD Founder and CTO Stefan Galluppi. “Americans fill about six billion prescriptions each year. Through this partnership, we’re capable of offering massive price and rebate pass-throughs to patients that are on the LifeMD platform,” Galluppi said.
The strategic partnership will also vastly increase the number of medications available through LifeMD’s channels and offer HIPAA-compliant and mobile-centric access to prescription and fulfillment information, real-time notifications, and updates via text.
The strategic partnership will also broaden and accelerate LifeMD’s entry into the
“Empowering healthcare patients with information is at the core of what we do at Prescryptive, and we are honored to work with LifeMD,” said Chris Blackley, CEO of Prescryptive Health. “Together, we are delivering a modern digital healthcare experience with the transparency and simplicity that patients need.”
Galluppi noted that this strategic partnership enables a nationwide telehealth platform capable of delivering prescriptions direct to patients with same-or-next day delivery, resulting in best-in-class delivery times and customer service.
“Our strategic partnership is a major step forward in our mission of creating and providing elevated, cost-effective healthcare. Prescryptive’s unique capabilities allow us to think and act more boldly in shaping the telehealth experience,” Galluppi said. “Finally, we are most excited to integrate Prescryptive’s enhancements into our upcoming fully-comprehensive primary care platform, which will provide patients with cheaper, better, more accessible high-quality healthcare.”
About LifeMD
LifeMD, Inc. is a rapidly growing direct-to-patient telehealth company that offers cash-pay virtual medical care across all 50 states. LifeMD's telemedicine platform enables virtual access to affordable and convenient medical treatment from licensed providers and, when appropriate, prescription medications and over-the-counter products delivered directly to the patient's home. To learn more, go to LifeMD.com.
About Prescryptive Health
Prescryptive Health is a healthcare technology company delivering solutions that empower consumers. Prescryptive’s secure, mobile-first products connect consumers, pharmacists, and employers, ultimately providing people with the information they need to make informed decisions and take control of their health. To learn more about Prescryptive Health, visit www.prescryptive.com.
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Company Contact
LifeMD, Inc.
Marc Benathen, CFO
Email Contact
Prescryptive Health Contact
Anne Coyle
Senior Director, Marketing
857-222-6363
Investor Relations Contacts
Ashley Robinson
LifeSci Advisors, LLC
arr@lifesciadvisors.com
