Lindora Achieves Dramatic Growth with Subscription Model
Sep. 12, 2018
COSTA MESA, Calif.--(BUSINESS WIRE)--Sep 12, 2018--Lindora, one of the largest medically supervised weight loss and wellness companies in the country, said today that its new, flexible subscription pricing model has proven to be the overwhelming option for patients and is leading the company’s dramatic growth.
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John Tangredi, VP, Operations at Lindora, and Will Righeimer, CEO at Lindora, have lead the introduction of Lindora’s subscription membership program which is driving dramatic growth for the weight loss and wellness company. (Photo: Business Wire)
“The patient response has been remarkable,” said John Tangredi, Vice President of Operations at Lindora. “New patient growth has skyrocketed. In July, we brought on nearly twice as many new patients as we did last year and August was up more than 50 percent. We’re also seeing a significant increase in engagement among our current patients.”
Lindora, known for its ketogenic approach to weight loss for nearly 50 years, launched the subscription membership program in January, 2018.
Will Righeimer, CEO at Lindora, added “The whole reason we shifted to a subscription membership model was to make our premium, differentiated service accessible to more people. We’re now appealing to a much broader audience and we’re attracting a younger customer who sees subscription membership as a preferred way of buying services. For both Lindora and our patients, the approach has been an absolute home run.”
Lindora’s New Membership Pricing allows new and existing patients to choose from three core options where they can pay for their services monthly:Wellness – for those looking to maintain a healthy lifestyle. The Wellness option gives patients the ability to take advantage of Lindora’s extended services and products without having to participate in a weight loss program. Key benefits include medical lab and exam, body composition analysis, weekly booster shots and every day service and product discounts. Priced at $49 per month for an annual membership. Wellness Plus – for those looking to lose a moderate amount of weight and establish a healthy lifestyle. The Wellness Plus option gives patients the opportunity to participate in one weight loss program during the year with all of the benefits of the Wellnes s option. Priced at $99 per month with a $99 activation fee for an annual membership. Wellness Unlimited – for those looking to lose a significant amount of weight and establish a healthy lifestyle. The Wellness Plus option gives patients the opportunity to participate in as many weight loss programs as they want during the year with all of the benefits of the Wellnes s option. Priced at $149 per month with a $149 activation fee for an annual membership.
“I think the other reason we’re seeing such high adoption rates for subscription memberships is that our model allows us to bundle a number of services that had previously been a la carte services. When patients see everything they get for about $3 a day, it makes for an extremely compelling value proposition,” said Tangredi.
Along with the new subscription membership plan, Righeimer believes that Lindora’s recent success has also come from its collection of new, clean label, nutritional products. The company has introduced 30 new products in the last twelve months with several more slated by the end of the year.
Righeimer took the helm at Lindora in May of 2017. Since then, the company has focused on driving valuation by completing a comprehensive corporate rebranding, introducing new, in-demand nutritional and wellness products and services, and shifting to a subscription based, recurring revenue model.
In the near future, Righeimer and his team plan to launch additional growth strategies including a new line of healthy, prepared meals called LindoraFresh™, an online platform that would make Lindora programs available to anyone in the world, and industry partnerships with wellness providers and payers.
Lindora is one of the largest, medically supervised weight loss, wellness and consumer products companies in the United States. With an intense focus on improving patient outcomes, the nationally recognized brand has helped tens of thousands of people lose weight and live happier, healthier lives for nearly 50 years. Lindora’s comprehensive weight management and wellness programs teach patients how to lose weight rapidly through a ketogenic eating plan, exercise, and strategies to combat stress. Lindora operates 34 clinic locations in Southern California. Lindora’s mission is to transform people’s lives through weight loss and wellness. The company is owned by Solis Capital Partners and Innovate Partners, both located in Newport Beach, CA. For additional information about Lindora, visit lindora.com.
About Solis Capital Partners
Solis Capital Partners is a private equity firm specializing in the lower middle market. Headquartered in Newport Beach, California, Solis invests in companies with revenues of $15 to $100 million, typically in the service, consumer products, niche manufacturing, and software sectors. For additional information, visit soliscapital.com.
About Innovate Partners
Innovate Partners is an operationally oriented venture capital fund that makes equity and equity-related investments in companies that are active in the technology, business services and consumer products sectors, with a strategy currently focused on consumer technology and big data. For more information, visit innovatepartnersllc.com.
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Steve Patterson, 714.415.4618
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: HEALTH FITNESS & NUTRITION
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PUB: 09/12/2018 12:15 PM/DISC: 09/12/2018 12:15 PM