Telemedicine and Weight Loss Stocks to Watch
Stocks Discussed: Integrated Ventures, Inc. (OTCQB:
$INTV), Hims & Hers Health Inc. (NYSE: $HIMS),
LifeMD, Inc. (Nasdaq: $LFMD),
23andMe Holding Co. (Nasdaq: $ME)
September 4,
2024 - Investorideas.com, a go-to investing platform covering health and wellness issues a
snapshot looking at news and developments for the telemedicine and weight loss market,
featuring new player in the market, Integrated
Ventures, Inc. (OTCQB: INTV), a portfolio holdings company,
focused on e-commerce technology, digital assets and consumer-focused
investments.
According to Meticulous Research, the global telehealth market is set to experience significant
growth, with an anticipated CAGR of 21.6% from 2022 to reach $539.73 billion by
2029. This robust expansion is primarily driven by several key factors,
including the rising elderly population, the increasing incidence of chronic
diseases, supportive government policies, and heightened awareness of
telehealth benefits.
Research and Markets reports, “The United States
Telehealth Market was valued at USD 21.11 Billion
in 2023 and is expected to reach USD 35.58 Billion by 2030 with a CAGR 8.95%.”
Focusing on the growing trend of telemedicine
and weight loss, Integrated Ventures, Inc. (OTCQB: INTV), just announced the formation and
launch of their second, fully funded, 100% owned subsidiary - MedWellDirect,
LLC, a Direct-To-Consumer (D2C) telemedicine solutions provider, mainly for
weight loss and GLP-1 products as well as the acquisition of a 51% stake in
GetTrim.Com™, owned by Healthy Lifestyle USA – an innovative telemedicine
weight loss services provider.
Paid news dissemination for INTV
Read this article, featuring INTV in
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This strategic move positions Integrated Ventures at the
forefront of the rapidly expanding medical weight loss industry, which is
experiencing significant growth driven by the increasing consumer adoption of
new, weight loss medications such as Semaglutide and Tirzepatide.
Healthy Lifestyle USA has developed
and launched two consumer-targeted platforms, GetTrim.Com and JoinTrim.Com,
each offering unique and effective weight loss solutions, tailored to a wide
audience. The dual-platform strategy, supported by advanced technological
infrastructure and sophisticated marketing funnels, is designed to deliver
accessible, effective and personalized weight loss services. By integrating
cutting-edge telemedicine capabilities with a robust tech stack, Healthy
Lifestyle USA, aims to create seamless, high-quality solutions and experiences
for consumers, seeking safe and effective medical weight loss options.
The acquisition comes at a pivotal
moment for the industry. Companies like Hims & Hers Health Inc., with a 3.2+
billion market cap, and Ro, have demonstrated the immense potential in this
market, indicating a strong shift toward telemedicine-based weight loss
solutions. The GetTrim and JoinTrim platform is trademarked and well-positioned
to build on this success with its integrated telemedicine platforms for online
consultations, real-time customer communication and secure transactions. By
leveraging outsourced customer service models and third-party marketing
funnels, the program is strategically designed to enhance user experience and
achieve high conversion rates.
More from the news: Healthy Lifestyle USA’s platforms are built on a unified,
cloud-based architecture that offers scalability, reliability, and security,
compliant with HIPAA and GDPR regulations. Advanced reporting and analytics
provide real-time insights into user behavior and treatment outcomes, utilizing
machine-learning algorithms to enhance user experience and service delivery.
The intuitive user interface ensures a seamless experience across all devices
and telehealth features, further enhancing the comprehensive e-commerce
functionalities.
Compliant with regulations to operate
and provide medical consulting services in 49 states, including major markets
like California, Florida, Texas, and New York, the GetTrim platform is
well-positioned to reach a broad audience across the United States. This
extensive reach aligns with Integrated Ventures' growth strategy to become a
leading player in the medical weight loss sector.
More from the news Steve Rubakh, CEO of Integrated Ventures, Inc.,
commented, "The acquisition of GetTrim.Com is the engine to our
multi-faceted B2C/D2C growth strategy and reinforces our commitment to
investing in high-growth sectors. The GetTrim program, with its dual-platform
approach and cutting-edge technology, is uniquely positioned to address the
growing consumer demand for medical weight loss solutions like Semaglutide and
Tirzepatide. We are excited to work closely with the Healthy Lifestyle USA team
to scale these platforms, enhance user experience, and drive long-term
shareholder value. Note that additional details related to this transactions
are available via 8K, filed with SEC."
Showing the growth potential of the sector, Hims &
Hers Health Inc. (NYSE: HIMS), the leading health and wellness platform, on
August 5th announced financial results for the second quarter ended June 30, 2024 in a
shareholder letter that is posted at investors.hims.com.
"Our second quarter results mark an acceleration in
what was already an incredible trajectory. During the quarter, subscribers on
our platform approached 1.9 million, increasing 43% year-over-year," said
Andrew Dudum, co-founder and CEO. "We believe access to life-changing
solutions should be simple, convenient, affordable, and designed for the
individual. As we expand the capabilities on our platform, we are only more
convinced that we can help an individual in every household in the country feel
great."
From the news: Yemi Okupe, CFO, stated, "An
approach to democratizing access to high-quality personalized solutions on our
platform at an affordable price continues to resonate with consumers. We are
seeing this improve our ability to attract new users to longer-tenured
specialties, while also allowing us to more rapidly scale new specialties.
During the second quarter, these dynamics drove an acceleration in revenue
growth and record profitability levels. We are updating our full year outlook
to reflect this improving momentum and continue to believe we are on a clear
path toward serving tens of millions of customers as we scale this increasingly
powerful and efficient model."
On August 7th, LifeMD, Inc. (Nasdaq: LFMD),
a leading provider of virtual primary care services, reported
financial results for the three and six months ended June 30, 2024.
From the news: Management Commentary
“LifeMD’s core telehealth business had a very strong
quarter, led by continued outperformance in our GLP-1 weight management
offering. Telehealth revenue increased 67% over the prior year and our patient
subscriber base grew to approximately 254,000 by quarter end. Importantly, our
telehealth business became profitable on an adjusted EBITDA basis, one quarter
ahead of guidance,” said Justin Schreiber, Chairman and CEO of LifeMD. “The
demand we continue to generate for our virtual care services and pharmacy
offerings is indicative of the significant market opportunity that exists for
the convenient and affordable access to high-quality healthcare our telehealth
platform and affiliated medical group offers. What we continue to demonstrate,
quarter over quarter, is that we have a sustainable and now profitable business
that is well positioned to leverage the transformational shift that is
occurring in how consumers access healthcare.”
“WorkSimpli’s performance during the quarter was pressured
by an unexpectedly challenging advertising environment for its products and
executional issues, which have since been addressed by their leadership. Based
on its current operational performance and following recent strategic efforts,
we expect WorkSimpli’s financial results to improve in the second half of the
year, and to return to peak profitability by year-end 2024 on a monthly
run-rate basis with significant growth in 2025. While we remain confident in
our ability to monetize this non-core asset, we expect our core telehealth
business will be the driving force of long-term growth in revenue and
profitability,” he added.
“We are extremely pleased with the performance of our
telehealth business, which led to positive net cash flow for LifeMD on a consolidated
basis. On a standalone basis, this business posted cash flow from operations of
approximately $3 million for the quarter and generated positive adjusted
EBITDA,” commented Marc Benathen, Chief Financial Officer of LifeMD. “Our core
telehealth business’ performance continues to be ahead of expectations and, as
such, we are raising our 2024 telehealth revenue guidance to $150 million from
$140 million previously and are introducing adjusted EBITDA guidance for
telehealth of $3 to $4 million, both ahead of previous expectations. Despite
the outperformance of telehealth, due to WorkSimpli’s first half results we are
revising 2024 consolidated adjusted EBITDA guidance to $13 million to $15
million, with no change to consolidated revenue guidance. We remain bullish on
the consolidated business led by our core telehealth platform, which remains
well positioned as the long-term growth driver.”
On August 28th,
Lemonaid Health, Inc., a subsidiary of 23andMe Holding Co., (Nasdaq: ME),
and a leading telemedicine provider, announced
it is now offering Ozempic®, Wegovy® and compounded semaglutide through a
weight loss program on its telehealth platform, providing consumers with access
to affordable weight management care through a convenient subscription-based
model.
If prescribed, Lemonaid Health patients will now have
access to once-weekly injectable GLP-1 medication offerings through an
accessible monthly membership subscription that includes clinician
consultations (via video or phone), a GLP-1 prescription (additional cost),
ongoing care and support, as well as an annual lab order (as needed).
“We are excited to be helping our customers get access to
potentially life changing weight management programs and GLP-1 medication
through Lemonaid Health and 23andMe,” said Anne Wojcicki, CEO and Co-Founder of
23andMe. “We are focused on helping customers live healthier, longer lives and
believe weight management is an important pillar. We also remain enthusiastic
as we see encouraging research come out about additional applications for
GLP-1s and ways they may be able to prevent or mitigate disease.”
From the news: After an initial consultation with
a clinician to confirm eligibility and medication preference, the membership is
$49 per month with no long-term commitment required, and transparent medication
pricing that doesn’t change based on dosage amount. Medication is charged
separately starting at $299 a month for compounded semaglutide. Lemonaid
provides fast shipping directly to patients, and purchases may be eligible for
payment via HSA and FSA programs.
Marketdata
estimates that the
market for telehealth weight loss services was worth $6.9 billion in 2023.
Revenues are forecast to grow 8.2% in 2024, and 7.5% annually to 2028.
Continued: The average weight loss telehealth
service user has 5 follow-up visits per year, at a cost of $50 per visit.
Monthly subscription fees cost $30-80, so the average user spends about $610
per year, not including the cost of the medications. This estimate is likely
conservative.
Telehealth and weight loss appear to be a perfect marriage
for growth for the stocks capitalizing on this trend based on recent earning
reports from some of the key players, but as always, there are winners and
losers in every sector and investors need to do their due diligence.
Research and find more biotech and
telemedicine stocks at Investorideas.com
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