WeightWatchers is taking a bite out of the weight-loss drug and telehealth industries.
The weight-loss program — also known as WW International — is set to purchase the company Sequence.
Sequence, a telehealth and medical subscription service, links patients with doctors who can prescribe them controversial weight-loss and diabetes drugs, such as Ozempic, Wegovy and Mounjaro. The company also offers access to fitness coaches and dietitians to help them craft personal weight loss plans. WW will promote Sequence’s services to its members and the deal will enable them to incorporate weight-loss drugs as part of its existing diet, fitness and lifestyle offerings.
Executives unveiled the $132 million deal earlier this week.
“As science advances rapidly, we know there is a significant opportunity to improve outcomes for those using medications,” WeightWatchers CEO Sima Sistani said in a statement.
“It is our responsibility, as the trusted leader in weight management, to support those interested in exploring if medications are right for them,” Sistani went on.
Dr. Gary Foster, chief scientific officer of WeightWatchers, also issued a statement on the deal.
“WeightWatchers’ nutrition and behavior-change program can provide the support needed to help people build livable healthy habits for the long term and manage the dietary-induced side effects often felt while taking chronic weight management medications, such as glucagon-like peptide-1s (GLP-1s),” Foster said.
WeightWatchers rebranded itself as WW International in 2018.Bloomberg via Getty Images
Weight-loss drugs like Wegovy and Ozempic work by mimicking GLP-1, a hormone that curbs hunger. Medication is released into the gut making the person feel fuller and less likely to overeat. The drug is administered via an injection into the leg, stomach or arm.
Foster said that WW would also offer strength-training programs and high-protein diet plans to those on weight-loss drugs to prevent them from losing muscle mass as they shed pounds, the Wall Street Journal reported.
“As we build out our clinical weight management pathway, we will be learning and likely tailoring our nutrition program for this distinct member journey,” Foster said
Both WW and Sequence hope their union will make way for a new kind of weight-loss plan. Since Sequence launched in 2021, it has rapidly increased its annual revenue. As of February, it accumulated over 24,000 members across America.
The program costs $99 a month after a $49 initial consultation fee.
WeightWatchers has been in the weight-loss business since its inception in 1963.Bloomberg via Getty Images
Rémi Cossart, CEO and co-founder of Sequence, released a statement saying, “in combination with WeightWatchers’ best-in-class behavior change program, [we can] deliver a one-of-a-kind scientifically sound solution to comprehensive care.”
“With our science-backed lifestyle program and Sequence’s tech platform – which puts complex, slow insurance processes on tech rails – this is an unmatched opportunity for us to create an integrated product offering,” Sistani added.
Cossart assured users in his own memo, alongside Sequence’s medical director Spencer Nadolsky and co-founder Calvin Young, that nothing will be changing in the program and “we’ll continue to operate independently.”
“WeightWatchers’ nutrition and behavior-change program can provide the support needed to help people build livable healthy habits for the long term,” Foster said in a statement.Bloomberg via Getty Images
They also explained that the new partnership with WW “gives us the opportunity to invest even more in what we’ve built [and] will continue to fulfill our joint mission of livable, sustainable, science-backed weight management.”
Drugs like Ozempic are controversial, in part, because of their popularity in Hollywood. Diet meds make the glittering promise of rapid weight loss, a shrinking waistline and a less glamourous side effect — a sagging face.
Additionally, the increase in demand for these injections for cosmetic reasons has left people who need them for diabetes with a decrease in supplies.
Weight-loss drugs also don’t come without health risks. Researchers recently posted a claim about a deadly side effect regarding Ozempic, revealing a potential “increased risk” of intestinal obstruction when ingesting the meds.
The Post has reached out to WeightWatchers for comment.
Source link: https://nypost.com/2023/03/08/new-weightwatchers-deal-gives-dieters-access-to-ozempic/