02:06 PM EST, 11/04/2025 (MT Newswires) -- LifeMD ( LFMD ) said Tuesday it has sold its majority stake in WorkSimpli Software in a deal valuing the firm at an enterprise value of about $65 million to focus on expanding its virtual care and pharmacy offerings.

The buyer group was led by WorkSimpli founder and CEO Sean Fitzpatrick, with support from a private investment group, the company said.

LifeMD ( LFMD ) said it received about $22 million in cash at closing, representing 91.6% of the $24.0 million base purchase price attributable to the 80% interest sold. The deal closed on Nov. 4.

The sellers are eligible to receive up to an additional $28.0 million in cash upon WorkSimpli achieving defined growth and operational targets over the next three years, it said.

Shares of LifeMD ( LFMD ) were over 3% lower in recent trading.

Price: 5.55, Change: -0.19, Percent Change: -3.31