White Plains, New York — February 11, 2021 – Deutsch Capital LLC today announced an investment in Conversion Labs, Inc. (NASD: CVLB). Conversion Labs is a leading direct-to-patient telehealth company. Deutsch Capital’s investment was part of a $14 million unregistered private placement to certain individuals and institutions at $23 per share. Proceeds from the offering will be used in conjunction with the roll out of Life MD and to further expand the company’s telehealth pipeline.
Effective February 22, 2021, Conversion Labs will change its name to Life MD, followed by the official launch of its subscription-based primary care and concierge services offering designed to positively transform all aspects of a patient’s healthcare. Justin Schreiber, company co-founder and CEO, stated, “We see our new name reflecting our evolution and expansion from a branded telemedicine products company into a leading provider of end-to-end concierge telehealth services. Life MD expresses our desire to have a deeper connection to the daily lives of our patients who desire more convenient and on demand access to healthcare, prescriptions and over-the-counter medications.”
Mark Deutsch, President of Deutsch Capital, said, “Conversion Labs is at the forefront of changing the way many consumers receive healthcare. Its disruptive direct-to-consumer technology has enabled the company to grow rapidly. The addressable market is huge and I expect Conversion Labs to be a major competitor within the industry. We are extremely grateful that the company has chosen to work with Deutsch Capital.”
ABOUT CONVERSION LABS
Conversion Labs, Inc. is a leading telemedicine company with a portfolio of online direct-to-consumer brands. The company combines virtual medical treatment with prescription medications and unique over-the-counter products. Its network of licensed physicians offers telemedicine services and direct-to-consumer pharmacy to consumers across the U.S. To learn more, visit www.LifeMD.com.
ABOUT DEUTSCH CAPITAL
Based in White Plains, NY, Deutsch Capital is a private equity firm that invests in lower middle-market companies across a wide range of industries. Typical investments are in privately owned niche manufacturing, business services and building products companies with sales of $10 million to $75 million. Selectively, the firm also invests in early stage businesses. To learn more, visit www.DeutschCapital.com.