OWINGS MILLS, Md., Dec. 11 Medifast, Inc. (NYSE: MED), a provider of leading clinically proven portion-controlled weight-loss programs, today announced that Executive Chairman of the Board Colonel Brad MacDonald, USMC (Ret.), recently completed an eight-month long leadership-development program sponsored by Leadership Maryland.
Advertisement
"The Leadership Maryland program was an invaluable experience and I look forward to utilizing lessons learned in the program and applying them to the continued success of Medifast," said Col. MacDonald. "At Medifast, we are proud to be founded and based in Maryland, and are dedicated to fighting the obesity epidemic and spreading a message of health."
Advertisement
Leadership Maryland, celebrating its 17th graduating class, honored Col. MacDonald, along with forty-five statewide classmates, at a black-tie reception and banquet held December 1, 2009, at the Renaissance Harborplace Hotel in Baltimore.
Leadership Maryland, an independent, educational leadership-development organization, informs top level executives from the public and private sectors about the critical issues, challenges, and opportunities facing the state of Maryland and its regions. After participating in a broad range of experiences, these statewide leaders are prepared to address these issues and serve as important participants in the unified effort to shape Maryland's future.
"To be informed about statewide and regional issues, and having the opportunity to engage and interact with leaders who put themselves on the front line every day, has prepared these individuals to be the catalyst for positive change in Maryland," stated Leadership Maryland Board Chairman Stephen A. Horvath. A 1998 graduate of the program, Mr. Horvath is senior vice president-group manager, PNC Bank, Gaithersburg.
"These are the leaders to watch, now and in the future," said Leadership Maryland President Nancy Minieri. "Their experience confirms that the quality of leadership affects the success of the solutions. Problems are solved when committed, dynamic leaders with vision and passion are willing to take the risk to lead."
Col. MacDonald's foresight and steady leadership has been instrumental to Medifast's growth. The Company experienced over $100 million in revenue in 2008, has reported revenue growth of 49% through the first nine months of 2009, and has posted 40 consecutive quarters of profitability. The Company has grown from just 25 employees in the Owings Mills Corporate Offices to now employing over 300 Marylanders. During this time of growth, Medifast has been a leader in building a diverse team of leaders and Board Members.
Medifast has been a leader in local community development and the Company has created jobs in the town of Ridgely, Md., where Medifast opened a distribution center in 2001 employing 15 residents. Now, Medifast is the largest employer in the town with over 100 employees in distribution, IT, digital printing, inventory, and quality control.
Col. MacDonald is very active in the Maryland community, serving on various boards. He serves as a Trustee of Stevenson University, in 2008 was elected Vice Chairman of the United States Marine Corps Reserve Toys for Tots Foundation, and also serves as a Director, Board Member of the Baltimore County Chamber of Commerce. Col. MacDonald's community activities also include serving as Board Member of the Institute of Notre Dame High School, Baltimore Md., Member of the Development Board of the Augustinian Order, Villanova, Pa., and Board Member of the HOA of Sunset Island, Ocean City, Md.
About Medifast:
Medifast (NYSE: MED) is the leading easy-to-use, clinically proven, portion-controlled weight-loss program. Medifast has been recommended by over 20,000 doctors and used by over one million customers since 1980. It is committed to enriching lives by providing innovative choices for lasting health. Medifast programs have been proven effective through studies by major university teaching hospitals. The company sells its products and programs via four unique distribution channels: 1) the web and national call centers, 2) the Take Shape For Life direct-selling division 3) medically supervised Medifast Weight Control Centers, and 4) a national network of physicians. Medifast was founded in 1980 and is located in Owings Mills, Maryland. For more information, log onto http://www.choosemedifast.com. MED-G
Safe Harbor Statement
Please Note: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as "intend" or other similar words or the negative of such terminology. Similarly, descriptions of Medifast's objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Medifast believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Medifast's inability to attract and retain independent Associates and Members, stability in the pricing of print, TV and Direct Mail marketing initiatives affecting the cost to acquire customers, increases in competition, litigation, regulatory changes, and its planned growth into new domestic and international markets and new channels of distribution. Although Medifast's believes that the expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.
Contact: Brian [email protected]
SOURCE Medifast, Inc.
