NEW YORK, April 14, 2020 (GLOBE NEWSWIRE) -- Conversion Labs, Inc.(OTCQB:CVLB), a direct-to-consumer telemedicine and wellness company, has appointed Dr. Jeremy Fine, a noted expert in internal medicine, to its medical advisory board.
Dr. Fine will be involved in guiding and advancing Conversion Labs' expanding portfolio of telemedicine brands that include Rex MD, Shapiro MDand SOS Rx, as well as future brands and products under development.
Dr. Fine brings to Conversion Labs more than 15 years of award-winning medical experience, innovation and accomplishment. Los Angeles Magazine named Dr. Fine one of LA's Best Physicians for his exemplary skills and innovative approach to medicine. He has also been named one of California's Favorite Physicians by Patients' Choice and Most Compassionate Doctor by Consumer Research. He has been ranked as a Top 10 Doctor by Vitals and among Top Doctors by Castle Connolly for delivering the best in American medicine.
Dr. Fine has practiced medicine and lectured in cities across the globe, including Oslo, Sydney, Nagasaki, and Tel Aviv. Board certified in Internal Medicine, Dr. Fine completed his medical training at Cedars-Sinai Medical Center in Los Angeles, which is rankedamong the top 10 hospitals in the country. The hospital appointed Dr. Fine as its Chief Resident to teach physicians and medical students the art of medicine.
"We expect Dr. Fine's leadership and extensive medical experience to provide valuable insights and guidance as we continue to grow our portfolio of telemedicine and wellness brands," commented Justin Schreiber, CEO of Conversion Labs. "Dr. Fine's background and top ranking among his peers reflects the exceptional quality of our team of advisors which is helping us fulfill our mission of creating proprietary prescription and OTC products that can dramatically improve health or health security, and are convenient and accessible for patients."
Dr. Fine has been a clinical instructor of medicine at David Geffen School of Medicine at UCLA and Keck School of Medicine of USC, and served on the bioethics committee and the medical informatics committee at Cedars-Sinai Medical Center. He earned his Bachelor of Arts in Biology from UCLA and Yeshiva University, and medical degree from the Sackler School of Medicine, Tel Aviv.
"I'm excited to join Conversion Labs at this pivotal time in its growth and development, especially with the recent launches of Rex MD and SOS Rx," said Dr. Fine. "Telehealth is an important part of the future of medicine, as patients increasingly seek a more convenient way to obtain medical treatment and prescription medications. Conversion Labs has done a phenomenal job integrating telemedicine with an exceptional product offering designed to provide a higher quality of healthcare for a large number of patients across the country."
The company launched Rex MD as its first telemedicine brand last December. Rex MD has been initially focused on treating erectile dysfunction (ED), with the global ED market expected to exceed $2.9 billion by 2023. Rex MD plans to soon offer treatments for longevity, strength and endurance, hair loss, skin care and other indications.
Conversion Labs recently reportedits sales jumped 50% to $12.5 million in 2019. Extensive investments in telemedicine, technology, brand development, and customer acquisition in 2019 have been helping to accelerate the company's growth. Its annualized revenue run rate hit $18 million in the first quarter of 2020, setting revenue on track to exceed $30 million for the year.
Telemedicine sales of newly launched brands and brand extensions support this positive outlook. Under development long before the global outbreak of the COVID-19 coronavirus, Conversion Lab's new SOS Rx Disaster Pack provides a formulated package of prescription drugs for use in the event of similar disaster scenarios, including flu epidemics, radiological exposure or bioterrorism.
The company also recently receivedFDA 510(k) clearance for its new hair regrowth product, the Shapiro MD Laser Hair Restoration Device. The device addresses the global hair restoration market that is growing at a 4.6% compounded annual growth rate and expected to exceed $12 billion by 2026.
About Conversion LabsConversion Labs, Inc. is a health and wellness focused e-commerce company with a portfolio of online direct-to-consumer brands. The company's proprietary over-the-counter products and formulated medications can be prescribed online by Conversion Labs' network of licensed telehealth physicians across the U.S. To learn more, please visit ConversionLabs.com.
Important Cautions Regarding Forward-Looking Statements This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to Conversion Labs, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
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Conversion Labs Appoints Award-Winning Physician, Dr. Jeremy Fine, to Advisory Board to Advance Telemedicine Brand Portfolio - Benzinga
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