LifeMD Launches NavaMD™ Adding Direct-to-Patient Clinical Skincare Services to its Portfolio of Personalized Telehealth Brands
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LFMD
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LifeMD, Inc.
Wed, April 7, 2021, 8:31 AM
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LFMD
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The brand launch into tele-dermatology adds further portfolio diversification into exciting and fast-growing area of patient healthcare
NEW YORK, April 07, 2021 (GLOBE NEWSWIRE) -- LifeMD, Inc. (the “Company”) (NASDAQ: LFMD), a leading direct-to-patient telehealth company, today announced the successful launch of NavaMD™. The NavaMD website went live at the end of the first quarter of fiscal 2021 and is the Company’s personalized tele-dermatology brand and clinic, offering services to patients across all 50 states.
Justin Schreiber, Chairman and CEO commented, “We are pleased to bring the NavaMD brand to life in 2021, as this will be LifeMD’s third successful brand launch in four years. We are an early mover in the $40 billion-dollar high growth direct-to-patient tele-dermatology space and are well-positioned to grow market share. By empowering patients seeking telehealth services, we feel that LifeMD is best positioned to actively bring about a sea change in both the convenience and accessibility by which patients receive personalized services and medications when needed. As such, we remain focused on refining customer acquisition strategies and building a de-risked brand portfolio that addresses low risk, massively underpenetrated and addressable markets such as the NavaMD clinical skincare offering.”
“By focusing on fast growing, therapeutic areas with high unmet needs, whose treatments are proven to be safe, we are creating the best runway for unrivaled growth in telehealth customer acquisition, recurring revenues and return on shareholder value,” mentioned Stefan Galluppi, Chief Technology Officer.
NavaMD’s services will be available to any patient seeking dermatology services. Service offerings include the diagnosis and treatment of prevalent skin conditions such as acne, rosacea, hyperpigmentation, signs of aging, and other prevalent skin conditions. NavaMD’s customer acquisition strategy will be primarily set to growing its female customer base, fully supported by best-in-class direct response marketing, social media, and influencer campaigns. Online medical treatment and services will be rendered through LifeMD’s network of U.S. licensed physicians, pharmacies, and, if appropriate, prescription oral and compounded topical medications to treat many common dermatological conditions. In addition to the brand’s telemedicine offerings, NavaMD’s proprietary products leverage intellectual property and proprietary formulations licensed from Restorsea, a leading medical grade skincare technology platform. NavaMD is the first external provider to offer Restorsea’s patented medical-grade over-the-counter products for treating these prevalent skin conditions.
Like other LifeMD brands, NavaMD tele-dermatology services is highly personalized, powered by a proprietary technology stack. The engagement with patients is seamless and is driven by a simple three-step customer journey consisting of:
Completing a free consultation: whereby a questionnaire and patient photo is submitted for review.
Getting prescribed a custom formulated treatment regimen: NavaMD’s licensed U.S. doctors, and clinicians then work to design a custom prescription skincare treatment. A quick and convenient checkout process powered by LifeMD’s telehealth platform fills a prescription.
The patient receives a personalized treatment by mail: LifeMD’s pharmacy services prepares and delivers a customer’s custom prescription treatment on a monthly recurring basis or as often as needed.
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