NEW YORK, June 01, 2026 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ:LFMD), a leading direct-to-patient telehealth company, today announced the appointment of Umesh Sripad as Chief Technology Officer (CTO), effective immediately. In this role, Mr. Sripad will lead LifeMD's technology strategy, platform transformation, AI enablement, cybersecurity, data infrastructure, and enterprise scalability initiatives as the company continues its rapid expansion.
"Over the past five years, LifeMD has grown from a small men's virtual pharmacy platform into a 50-state virtual primary, specialty care, and pharmacy platform that serves nearly 350,000 patients," said Justin Schreiber, Chairman & Chief Executive Officer of LifeMD. "As we look to the future and envision a platform that will serve the needs of millions of patients, Umesh's deep experience leading technology and product for some of the largest companies in the world will be invaluable. We are thrilled to welcome him to the LifeMD team."
Mr. Sripad brings more than two decades of experience driving large-scale digital modernization, operational transformation, and customer-centric innovation across public companies, high-growth consumer platforms, and private equity-backed organizations. He joins LifeMD from PetMeds, where he served as Chief Digital and Technology Officer and led enterprise-wide transformation across digital commerce, pharmacy technology, data platforms, customer experience, and core enterprise systems.
Prior to PetMeds, Mr. Sripad served as Chief Product Officer at PureRED, a private equity-backed digital commerce and marketing technology company. Earlier in his career, he held the role of SVP and Chief Digital Officer at Bed Bath & Beyond, and Chief Digital Officer for IKEA USA, where he scaled the company's U.S. digital business into a multibillion-dollar platform. He has also held executive roles at Overstock.com, CNN, and The Weather Channel.
"I am excited to join LifeMD at such a pivotal moment in the company's evolution," said Mr. Sripad. "LifeMD has built a remarkable platform that is already transforming how patients access care across the country. I look forward to partnering with the team to accelerate our technology capabilities, harness the power of AI, and build the scalable infrastructure that will enable us to serve millions of patients with best-in-class digital health experiences."
Mr. Sripad is an active Forbes Technology Council member, an advisor to emerging technology and product organizations, and a frequent speaker at industry conferences focused on digital transformation, AI strategy, innovation, and operational excellence.
Employment Inducement Grant
In accordance with Nasdaq rules, the Company hereby discloses that as a material inducement to Mr. Sripad's employment, the Company will grant Mr. Sripad 150,000 restricted stock units, of which 75,000 units will vest based on his continued service, with 25,000 units vesting on each of the first, second, and third anniversaries of his appointment, and 75,000 units will vest based on the Company's achievement of performance targets.
About LifeMD
LifeMD® is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men's and women's health, weight management, and hormone therapy. The Company leverages a vertically integrated, proprietary digital care platform, a 50-state affiliated medical group, a state-of-the-art affiliated pharmacy, and a U.S.-based patient care center to increase access to high-quality and affordable care. For more information, please visit LifeMD.com.
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This news release includes 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 safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release may be identified by the use of words such as: "believe," "expect," "anticipate," "project," "should," "plan," "will," "may," "intend," "estimate," predict," "continue," and "potential," or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition.
Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, "Risk Factors" identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods.
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