Medifast CEO wants ‘much larger share’ of wellness market as sales grow 23%

Medifast Inc. got 2022 off to a strong start after reporting 22.6% sales growth in the first quarter as the company continues its ascent within the weight-loss industry. The Baltimore-based maker of dieting and weight-loss products reported record sales of $417.6 million in the first quarter, compared with $340.7 million in the year-ago period. On the bottom line, Medifast’s profit increased 1.7% to $41.8 million, or $3.59 per share, compared with $41.1 million, or $3.46 per share, in the prior-year quarter.