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WeightWatchers has laid out plans to push deeper into women’s healthcare and appointed a new board of directors, as the dieting brand seeks to reposition itself for a landscape upended by the emergence of GLP-1 weight loss drugs.
The company, which rebranded as WW International in 2019, filed for bankruptcy in May after succumbing to competitive pressure from a new breed of weight loss drugs, including Wegovy and Ozempic.
In a statement on Tuesday WeightWatchers said it planned to relist on the Nasdaq after its restructuring and focus on supporting women through the stages of the menopause.
WeightWatchers said its forthcoming menopause programme — which will deliver “tailored nutritional and behavioural strategies” — is a “strategic move to address a broader gap in healthcare”.
Founded in 1961, WeightWatchers sells monthly plans and online health services to people looking to lose weight. For years, the company was promoted by daytime television billionaire and shareholder Oprah Winfrey.
In 2018, it had a market capitalisation of more than $7bn, but its model of hosting in-person workshops was hammered by the Covid-19 pandemic. Annual revenue declined from $1.5bn in 2018 to less than $800mn by 2024 after heavy subscriber losses.
At a bankruptcy hearing in May its lawyers said WeightWatchers could no longer service a $1.6bn debt load because of an “evolution in consumer preferences and the rapid rise of GLP-1s”.
The company is now seeking to incorporate GLP-1 drugs into its attempt to help people lead healthier lifestyles. In 2023, WeightWatchers bought telehealth company Sequence that gave it the capacity to prescribe the novel drugs.
In May, President Donald Trump directed his administration to facilitate “direct-to-consumer” purchasing for pharmaceutical companies that bypass intermediaries.
WeightWatchers also said on Tuesday that it had assembled a new board of directors, which included the appointment of former Eli Lilly president Mike Mason, who oversaw the development of GLP-1 medications including Mounjaro.
“As medical treatments like GLP-1s become more widely used, the need for trusted, comprehensive care models that combine medication with lasting lifestyle change has never been greater,” Mason said in a statement.
WeightWatchers has also appointed Dr Kim Boyd, who it said comes with “extensive experience” in women’s health, as chief medical officer, tasked with leading its clinical strategy.
