Medifast, Inc.
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| Medifast, Inc. | |
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| Type | Public (NYSE: MED) |
| Founded | 1980 |
| Headquarters | Owings Mills, Maryland, USA |
| Key people | Bradley T. MacDonald, CEO & Chairman Michael S. McDevitt, President |
| Industry | Weight loss |
| Products | Medifast diet |
| Revenue | ▲ $74.99 million USD (2006) |
| Operating income | ▲ $8.112 million USD (2006) |
| Net income | ▲ $5.082 million USD (2006) |
| Employees | 265 (2007) |
| Website | www.medifast1.com |
Medifast, Inc. (NYSE: MED) is a Diet food company based out of Owings Mills, Maryland, USA and owns five subsidiaries: Jason Pharmaceuticals, Inc. (Jason), Take Shape for Life, Inc. (TSFL), Jason Enterprises, Inc., Jason Properties, LLC and Seven Crondall, LLC.. Most of Medifast's operations are through two subsidiaries, Jason Pharmaceuticals, Inc. and Take Shape for Life, Inc. Medifast produces, distributes, and sells weight management and disease management products, including the Medifast Diet.
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[edit] History
Jason Pharmaceuticals was founded by William Vitale, MD in 1980.
[edit] Businesses
[edit] Jason Pharmaceuticals
Jason Pharmaceuticals, Inc., produces over 80% of the Medifast products in a new food and pharmaceutical-grade 3.4 million USD plant in Owings Mills, Maryland. Additional shifts are planned to increase capacity and improve sales by approximately 250 million USD. [1]
[edit] Take Shape For Life
Take Shape For Life is a network of weight-loss centers that focus on a triad of health: mind, body, and finances. Franchisees are trained as coaches to assist customers in participating in the Medifast Diet weight-loss program. [2]
Take Shape for Life is a wholly owned subsidiary of Medifast, Inc. It is well capitalized, strong financially, and owns and controls its own FDA inspected manufacturing facilities, as well as significant warehousing and distribution facilities. [[ Wayne Andersen, M.D.]] is the chief architect and co-founder ofTake Shape for Life.
[edit] Management
Bradley T. MacDonald
Chairman of the Board
Michael J. McDevitt
Chief Executive Officer, Chief Financial Officer, Director
Margaret MacDonald
President, Chief Operating Officer
Leo V. Williams
Executive Vice President
Brendan N. Connors
Vice President - Finance
Conrad Sump
General Counsel, Corporate secretary
Wayne Andersen, MD
Medical Director
[edit] References
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Please help improve this article or section by expanding it. Further information might be found on the talk page or at requests for expansion. (January 2008) |
