LifeMD Adds FDA-Approved Oral Wegovy Pill Priced $149-$299 to Telehealth Offering
LFMD•LifeMD added Novo Nordisk’s FDA-approved oral Wegovy® GLP-1 therapy to its telehealth platform at $149-$299 monthly. The launch follows Phase 3 data showing a 16.6% mean weight loss advantage over placebo, positioning LifeMD for growth in virtual weight management.
1. LifeMD Closes $50 Million Revolving Credit Facility
LifeMD, Inc. announced the closing of a senior secured revolving credit facility with Citizens Bank, N.A., providing up to $50 million in total availability. The facility comprises $30 million of committed availability and an accordion feature allowing an additional $20 million, with a maturity date of January 2, 2029. At closing, no borrowings were outstanding, as LifeMD’s management expects existing cash balances and operating cash flow to fund its organic growth initiatives. Interest rates under the facility float at Term SOFR plus a spread of 150 to 225 basis points or the Alternate Base Rate plus 50 to 125 basis points; fees on unused committed amounts range from 0.225% to 0.30%, and no upfront fees were charged. CFO Marc Benathen highlighted the competitive pricing and financial flexibility the facility provides for corporate development and shareholder value–creating opportunities.
