Medifast

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Description

Medifast is an American nutrition and weight loss company based in Baltimore, Maryland. Medifast produces, distributes, and sells weight loss and health-related products through websites, multi-level marketing, telemarketing, and franchised weight loss clinics.

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 (symbol: MED).

On July 17, 1995, HealthRite (predecessor of Medifast) 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 $1.4 billion, as of May 2018.