NEW YORK, June 16, 2020 (GLOBE NEWSWIRE) -- Conversion Labs, Inc. (CVLB), a direct-to-consumer telemedicine and wellness company, has appointed noted expert in internal medicine, Dr. Jeff Toll, to its medical advisory board.
As an industry thought-leader on holistic health and preventative care, Dr. Toll has joined the board to help guide the development and expand awareness of Conversion Labs’ growing portfolio of telemedicine brands, including Rex MD, Shapiro MD and SOS Rx.
Dr. Toll brings to Conversion Labs an extensive record of medical experience, research and accomplishment. Board certified in internal medicine, Dr. Toll completed his medical training at Cedars-Sinai Medical Center in Los Angeles, which ranks among the top 10 hospitals in the country. He earned his bachelor’s degree from the University of Southern California and medical doctorate from Thomas Jefferson University in Philadelphia. A popular influencer on social media, Dr. Toll has more than 38,000 followers on his Instagram.
“We look forward to benefiting from Dr. Toll’s real-world clinical experience and his deep knowledge and experience with innovative and novel health and wellness products,” commented Justin Schreiber, CEO of Conversion Labs. “Our telemedicine platform improves access to medical treatment, prescription medications and innovative over-the-counter products. Endorsements and support from influential and opinion leading physicians like Dr. Toll help us to fulfill our mission of using this platform to improve the quality of care.”
Dr. Toll’s Los Angeles-based private practice is focused on delivering integrated preventive care. His holistic approach provides highly personalized care that caters to each patient’s whole health, including mind, body and soul. Dr. Toll is also a volunteer faculty member at Cedars-Sinai Internal Medicine Residency, teaching interns, residents and UCLA medical students. His medical research has been published in the areas of medical genetics, cancer and addiction.
“In a post-COVID-19 world, telemedicine is one of the fastest growing segments of healthcare, and it will fundamentally change how clinicians like myself treat patients forever,” commented Dr. Toll. “Telemedicine enables doctors to do very positive things for patients, including increase quality of care and access to care.
“I joined Conversion Labs’ telemedicine advisory board because I was impressed with the nationwide telemedicine platform they built over the past year and its strong commercial traction within just six months from launch. I plan to utilize my knowledge and experience in concierge medicine and clinical research to help Conversion Labs further grow their portfolio of telemedicine brands and maximize the quality of care provided to each Conversion Labs customer.”
The company launched Rex MD as its first telemedicine brand last December. Rex MD has been initially focused on treating erectile dysfunction, with the global 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 received FDA 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.
The company also recently reported that its overall sales jumped 274% in May to a record $3.2 million. The May results indicate an annualized net revenue run-rate of more than $38 million in 2020 versus total net revenues of $12.5 million in 2019. This rapid growth is being driven by a combination of well-designed and effective products and a major consumer shift to eCommerce and telemedicine following the outbreak of COVID-19.
About Conversion Labs
Conversion Labs, Inc. is a telemedicine company with a portfolio of online direct-to-consumer brands. The company’s brands combine 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 Conversionlabs.com.
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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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Juan Manuel Piñeiro Dagnery
Conversion Labs Investor & Media Relations Contact
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566