SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): July 15, 2021
(Exact name of Registrant as specified in its charter)
(State or other jurisdiction
800 Third Avenue, Suite 2800
New York, NY 10022
(Address of principal executive offices, including zip code)
(Registrant’s telephone number, including area code)
Check the appropriate box below if the 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
|[ ]||Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|[ ]||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|[ ]||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|[ ]||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
|Common Stock, par value $0.01 per share||LFMD||The Nasdaq Capital Market|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 8.01 Other Events.
On July 15, 2021, LifeMD, Inc. (the “Company”) issued a press release announcing its collaboration with the world’s leading provider of laboratory diagnostic services and a technology leader in in-home healthcare to deliver telehealth access to diagnostic laboratory testing services. Specifically, the Company, on behalf of its customers, has engaged Quest Diagnostics Incorporated (“Quest Diagnostics”) as the Company’s laboratory services provider to perform certain clinical laboratory diagnostic services based on orders submitted to Quest Diagnostics by licensed health care providers who are under contract with the Company and are authorized under U.S. federal or state law to order laboratory tests. Patients of LifeMD’s affiliated providers gain access to more than 150 of the most ordered laboratory tests at substantially discounted prices, and which can be completed in the comfort, safety, and convenience of their home or office. In addition, the Company has engaged Axle Health Inc. (“Axle Health”) to assist the Company in establishing a platform to enable patients of the Company’s medical practice clients (“MP Clients”) to schedule certain nursing services, including blood draws, injections, and other basic healthcare services, and to furnish operational support services to medical practices using the platform. In connection therewith, Axle Health granted the Company a revocable, nontransferable, non-exclusive right and license, with the right to grant sublicenses, to install and use the software and other technology relating to the platform developed, owned, or with the right to grant sublicenses to install and use the software and/or other technology developed, owned, or licensed by Axle Health, including the platform, to facilitate the scheduling and provision of certain nursing services to patients of MP Clients. A copy of the press release is filed hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Exhibits.
|99.1||Press Release, dated July 15, 2021|
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Dated:||July 15, 2021||By:||/s/ Justin Schreiber|
LifeMD Teams with a Leading Provider of Diagnostic Services and Axle Health to Deliver Telehealth Access to At-Home Diagnostics
Patients Gain Access to Comprehensive Suite of Laboratory and Diagnostic Services at Preferred Pricing, Performed in the Comfort and Convenience of Home
NEW YORK, July 15, 2021 — LifeMD, Inc. (NASDAQ: LFMD), a leading direct-to-patient telehealth company, has teamed with the world’s leading provider of laboratory diagnostic services and Axle Health, a technology leader in in-home healthcare, to deliver telehealth access to diagnostic laboratory testing services.
Patients of LifeMD’s affiliated providers gain access to more than 150 of the most ordered laboratory tests at substantially discounted prices, and which can be completed in the comfort, safety, and convenience of their home or office. This includes urine sample collection and blood draws performed by Axle’s highly trained healthcare professionals, who will ensure secure and timely delivery to local labs. Patients can also visit any of more than 2,200 lab service centers located nationwide.
“Adding laboratory diagnostics services to our LifeMD telehealth platform greatly advances our mission of fundamentally changing the way healthcare is accessed, delivered, and afforded,” noted LifeMD’s chief medical officer, Dr. Anthony Puopolo. “We know that early diagnosis can be critical to creating the best healthcare outcomes. We believe that through our partnership with two of the nation’s leading care providers, we can deliver diagnostics in a way that can better support early diagnosis and thereby have a profound impact on the health and well-being of patients.”
Axle Health’s co-founder and COO, Adam Stansell, commented: “LifeMD shares our forward-thinking approach to healthcare and commitment to providing the best in patient services. This new level of personalized services represents the next evolution of healthcare by bridging the gap between virtual and in-person care. It enables patients to take better care of their health and of their loved ones.”
“This unique technology integration of our respective healthcare platforms will provide our physicians timely and accurate diagnostic information critical to providing the highest quality health care,” said LifeMD CEO, Justin Schreiber. “Direct-to-patient diagnostics will play a major role in making LifeMD the best in virtual primary care, while also supporting the continued expansion of our portfolio of condition-specific telemedicine offerings.”
About Axle Health
Axle Health enables any healthcare company to offer in-home visits to their patients. Axle provides the software platform, operational management, and network of healthcare professionals to handle in-home care, so providers can maintain lasting relationships with their patients over video and chat, while Axle provides physical services in their home. To learn more, visit www.axlehealth.com.
LifeMD, Inc. is a rapidly growing, direct-to-patient, telehealth company offering 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, visit www.LifeMD.com
Cautionary Note Regarding Forward Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies, and prospects—both business and financial. While we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to LifeMD, Inc., or a person acting on its behalf, are expressly qualified in their entirety by this cautionary language.
Marc Benathen, CFO
Investor Relations Contact
LifeSci Advisors, LLC