LifeMD Divests Majority Interest in WorkSimpli Software, Positioning Company as a Pure-Play Virtual Care and Pharmacy Platform

Transaction Values WorkSimpli at $65 Million Enterprise Value; Supports LifeMD’s Strategic Focus on Scaling its Virtual Care and Pharmacy Businesses

NEW YORK, Nov. 04, 2025 (GLOBE NEWSWIRE) -- LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual healthcare services and pharmacy, today announced the sale of its majority ownership interest in WorkSimpli Software LLC (“WorkSimpli”) in a transaction valuing WorkSimpli at an enterprise value of approximately $65 million. The buyer group was led by WorkSimpli founder and CEO Sean Fitzpatrick, with support from a private investment group. This transaction represents a key milestone in LifeMD’s strategic transformation, further positioning the Company as a pure-play healthcare company exclusively focused on expanding its virtual care and pharmacy offerings.

Under the terms of the agreement, LifeMD received approximately $22 million in cash at closing, representing 91.6% of the $24.0 million base purchase price attributable to the 80% interest sold, with a portion of these proceeds held back subject to adjustments for net working capital, cash, closing date indebtedness, and company transaction expenses.

The sellers are eligible to receive up to an additional $28.0 million in cash upon WorkSimpli achieving defined growth and operational targets over the next three years. The transaction closed on November 4, 2025.

“This transaction represents a defining moment for LifeMD and for WorkSimpli,” said Justin Schreiber, Chairman and CEO of LifeMD. “By divesting our majority stake in WorkSimpli, we are sharpening our focus on what we do best: building and scaling one of the most comprehensive virtual care technology platforms in the industry. This strategic move strengthens our balance sheet and positions LifeMD to accelerate growth across our core business lines, expand into new clinical verticals, and deliver even greater value to our patients, providers, and shareholders. On behalf of LifeMD, I want to congratulate WorkSimpli founder and CEO Sean Fitzpatrick and his team for their dedication and hard work in building such an exceptional business. Sean is an incredible entrepreneur, operator and marketer, and I have no doubt that WorkSimpli will continue to thrive as an independent, private company.”