Latest news with #JamesHunt
Daily Mail
3 days ago
- Business
- Daily Mail
Bankrupt WeightWatchers seeks salvation with 'complementary' deal on fat jabs that nearly destroyed it
WeightWatchers is joining the fat-jab revolution as it seeks to reinvent itself after going bust. The storied U.S. dieting firm - which filed for Chapter 11 bankruptcy earlier this month - has teamed up with a UK-based anti-obesity drug firm named CheqUp. As part of the tie-up, CheqUp members will get access to a new WeightWatchers app designed to assist those taking weight-loss injections. WeightWatchers has helped millions lose weight by selling low-calorie foods, diet and exercise advice. However, the company has failed to compete with Ozempic and other breakthrough drugs that mean overweight consumers can shed weight quicker and with less effort. Its new app will support customers through the journey by recommending food choices that minimize the side effects of the medication while promoting healthy weight loss. These 'complementary offerings' will help those 'seeking sustainable weight loss through GLP-1 medication and behavioral support,' the two companies said in a joint statement. 'There is no doubt that the addition of WW breakthrough GLP-1 companion program will add enormously to our patients' ability to achieve sustainable weight loss,' James Hunt, deputy chief executive of CheqUp, said of the partnership. 'This partnership offers the most attractive proposition in the market for those looking to benefit from the incredible potential of GLP-1 medications and behavior change' Hunt added. CheqUp provides both semaglutide jabs, the active ingredient in Ozempic, and Wegovy and Mounjaro, which contains tirzepatide. WeightWatchers filed for bankruptcy in May after months of negotiations with its lenders. The weight loss company has been struggling under $1.6 billion of debt and a sinking stock price. The company, now known as WW, has already negotiated a deal with its creditors so it will enter Chapter 11 bankruptcy with a pre-packaged filing. The company will be taken over by the institutional investors that own its debts. This should allow the company to move out of bankruptcy quickly and keep its business running as normal in the process. Weight Watchers was founded in 1963 by Jean Nidetch, a housewife from Queens, New York. It all began in her kitchen, where she invited a group of friends over to talk about dieting and offer each other support. At the time, Jean was following a diet prescribed by the New York City Board of Health, but she realized that support and accountability made all the difference. The company has influenced millions of people in the U.S. and around the world, selling diet meals, magazines, books, and memberships to its weight-loss programs. Over the years, celebrities like Oprah Winfrey and Jessica Simpson have helped market the brand. In 2014, Simpson appeared in ads at age 33, showing off her post-baby weight loss in a form-fitting black dress. Alarm bells first rang for the company in March 2023, when shares hit an all-time low amid declining sales. The situation worsened when longtime investor Winfrey — who admitted to using weight-loss medication — stepped down from the board. Since then, the stock has continued its downward spiral. WeightWatchers' stock fell so low following the announcement of its bankruptcy that it was delisted by the Nasdaq index and has suspended trading. By comparison, Ozempic-maker Novo Nordisk is valued at around $297 billion.
Daily Mail
4 days ago
- Business
- Daily Mail
Storied 60-year-old American company forced to scrap its business model due to Ozempic
WeightWatchers has turned its back on its traditional business model and has caved to peddling the weight loss drugs that bankrupted it. WeightWatchers, which filed for Chapter 11 bankruptcy earlier this month, has announced plans to team up with an anti-obesity drug company CheqUp in the UK. The 60-year-old company has been an iconic American staple, helping millions lose weight by selling low-calorie foods, diet and exercise advice. However, the company has failed to compete with Ozempic and other breakthrough drugs that mean overweight consumers can shed weight quicker and with less effort. As part of the new deal current CheqUp members will get access to a new WeightWatchers app that has been designed for those taking weight-loss injections. The app will support customers through the journey by recommending food choices that minimize the side effects of the medication while promoting healthy weight loss. These 'complementary offerings' will help those 'seeking sustainable weight loss through GLP-1 medication and behavioral support,' the two companies said in a joint statement. 'There is no doubt that the addition of WW breakthrough GLP-1 companion programme will add enormously to our patients' ability to achieve sustainable weight loss,' James Hunt, deputy chief executive of CheqUp said of the partnership. 'This partnership offers the most attractive proposition in the market for those looking to benefit from the incredible potential of GLP-1 medications and behavior change' Hunt added. CheqUp provides both semaglutide jabs, the active ingredient in Ozempic, and Wegovy and Mounjaro, which contains tirzepatide. WeightWatchers filed for bankruptcy in May after months of negotiations with its lenders. The weight loss company has been struggling under $1.6 billion of debt and a sinking stock price. The company, now known as WW, has already negotiated a deal with its creditors so it will enter Chapter 11 bankruptcy with a pre-packaged filing. The company will be taken over by the institutional investors that own its debts. This should allow the company to move out of bankruptcy quickly and keep its business running as normal in the process. Weight Watchers was founded in 1963 by Jean Nidetch, a housewife from Queens, New York. Jean Nidetch, founder of Weight Watchers, with devotees of the movement in 1984 WeightWatchers became a byword for the traditional weight-loss industry It all began in her kitchen, where she invited a group of friends over to talk about dieting and offer each other support. At the time, Jean was following a diet prescribed by the New York City Board of Health, but she realized that support and accountability made all the difference. The company has influenced millions of people in the U.S. and around the world, selling diet meals, magazines, books, and memberships to its weight-loss programs. Over the years, celebrities like Oprah Winfrey and Jessica Simpson have helped market the brand. In 2014, Simpson appeared in ads at age 33, showing off her post-baby weight loss in a form-fitting black dress. Alarm bells first rang for the company in March 2023, when shares hit an all-time low amid declining sales. The situation worsened when longtime investor Winfrey — who admitted to using weight-loss medication — stepped down from the board. Since then, the stock has continued its downward spiral. WeightWatchers' stock fell so low following the announcement of its bankruptcy that it was delisted by the Nasdaq index and has suspended trading. By comparison, Ozempic-maker Novo Nordisk is valued at around $297 billion.
Daily Mail
22-05-2025
- Business
- Daily Mail
WeightWatchers given lifeline from bankruptcy...thanks to deal signed with fat jab firm
WeightWatchers has teamed up with slimming jab company in bid to save itself from bankruptcy. The weight loss company had been struggling under $1.6billion (£1.2billion) of debt after losing business to revolutionary weight loss drugs such as Ozempic and Wegovy. But the company, which filed for bankruptcy in the US earlier this month, has now teamed up with British weight loss injection supplier CheqUp. Under the deal, CheqUp members will be able to access a bespoke WeightWatchers, now known as WW, 'companion' diet and lifestyle support app to help slimmers make the most out of the drugs. It will provide advice on subjects like which foods to eat that minimise some of the side effects of weight loss jabs, such as nausea. The move is largely seen as lifeline to WW amid its financial struggles. James Hunt, deputy chief executive of CheqUp, said the partnership was the first of its kind in the UK and would offer more to patients taking the jabs, also known as GLP-1s. 'There is no doubt that the addition of WW breakthrough GLP-1 companion programme will add enormously to our patients' ability to achieve sustainable weight loss through its science-backed and proven programmes, together with their global community of like-minded individuals,' he said. 'This partnership offers the most attractive proposition in the market for those looking to benefit from the incredible potential of GLP-1 medications and behaviour change.' Scott Honken, chief commercial officer at WW, added data from the US demonstrated the value of offering patients on the jabs a companion programme. 'In the US, that our members on obesity medications, who also participate in our nutritional and behavioural lifestyle program, lose 11 per cent more weight on average than those using the medication alone,' he said. 'When medication is part of the journey, it's the combination with behavioural support that leads to more sustainable, superior results. 'We recognize the demand for GLP-1 medications in the UK is growing as more people seek effective weight management solutions. 'That's why we're proud to partner with CheqUp to deliver our GLP-1 Companion Programme to meet this growing need.' CheqUp provides both semaglutide jabs, the active ingredient in Ozempic and Wegovy and Mounjaro which contains tirzepatide. The move follows a study earlier this month that showed patients who stop taking weight-loss jabs pile all the pound they lost pile it all back on within 10 months if they don't maintain a healthy lifestyle afterwards. WeightWatchers was founded in 1963 by Jean Nidetch, a housewife from Queens, New York. It all began in her kitchen, where she invited a group of friends over to talk about dieting and offer each other support. This launched a business based around selling low-calorie foods, diet and exercise advice to overweight people. A 2017 study published in The Lancet found participants on the programme lost an average of 4.75kg after 12 weeks and 6.76kg after a year. However, experts have previously warned that the low point scores promoted by WeightWatchers with certain foods don't always equal high nutritional value. Others have cautioned that weight loss through calorie-restricted diets is not often sustained. Over the years, celebrities like Oprah Winfrey and Jessica Simpson have helped market the brand. In 2014, Simpson appeared in ads at age 33
Associated Press
22-05-2025
- Health
- Associated Press
CheqUp and WeightWatchers Announce Strategic Partnership to Support Growing Use of GLP-1 Medications in the UK
CHIPPENHAM, England, May 22, 2025 (GLOBE NEWSWIRE) -- CheqUp, one of the UK's leading providers of GLP-1 based weight loss services, and WeightWatchers, the global leader in science-backed weight management, have announced a partnership that will combine the offerings of both organizations to benefit patients seeking sustainable weight loss through GLP-1 medication and behavioural support. This partnership delivers a seamless solution that combines: Together, these complementary offerings provide a more effective solution to weight management, helping members achieve better results than with medication alone. With 12 million people in the UK qualifying for prescription GLP-1 medications, this partnership addresses the growing demand in the market by offering a holistic model of care to those currently on, or considering, GLP-1 medication. The UK Government is already examining the case for a wider rollout of GLP-1 medications, recognizing the significant potential of these medications to improve health and impact work productivity. 'We are delighted that WeightWatchers chose CheqUp to be its strategic partner when it comes to holistic healthcare in the GLP-1 category,' said James Hunt, Deputy CEO of CheqUp. 'We are seeing exponential growth in the number of people who are choosing CheqUp to help them through what is a sometimes difficult but incredibly rewarding journey of weight loss. There is no doubt that the addition of WeightWatchers' breakthrough GLP-1 companion programme will add enormously to our patients' ability to achieve sustainable weight loss through its science-backed and proven programmes, together with their global community of like-minded individuals. We are proud that WeightWatchers has put their trust in our human-centric approach and access to the expertise of our clinicians and Health Coaches. This partnership offers the most attractive proposition in the market for those looking to benefit from the incredible potential of GLP-1 medications and behaviour change.' 'The data is clear—we see in the U.S., that our members on obesity medications, who also participate in our nutritional and behavioural lifestyle program, lose 11% more weight on average than those using the medication alone. When medication is part of the journey, it's the combination with behavioural support that leads to more sustainable, superior results,' said Scott Honken, Chief Commercial Officer at WeightWatchers. 'At WeightWatchers, we recognize the demand for GLP-1 medications in the UK is growing as more people seek effective weight management solutions. That's why we're proud to partner with CheqUp to deliver our GLP-1 Companion Programme to meet this growing need. Our behavioural program provides a structured, science-backed and supportive approach for those using GLP-1 medications to manage their weight safely, effectively, and sustainably.' CheqUp members will now receive the following tools and resources from WeightWatchers' GLP-1 Companion Programme: The offering is available, at no cost, for all CheqUp members who pursue their weight loss journey with GLP-1 medications. For more than 60 years, WeightWatchers has been at the forefront of weight management, transforming lives through its holistic, science-backed model of care. By integrating personalized, accessible support for eligible members with proven behavioural tools—and fostering connection through a community of members that is millions strong—WeightWatchers delivers support to help members achieve and sustain their goals. In fact, in a study of 3,260 WeightWatchers Clinic patients in the U.S., members lost on average 21% of their body weight at 12 months—real-world results that demonstrate the strength of WeightWatchers' programs. About CheqUp CheqUp is a leading provider of medically supervised weight loss programmes, offering personalised treatment plans, clinical oversight, and one-on-one coaching. CheqUp empowers individuals to take charge of their health through accessible and evidence-based solutions. For media inquiries, please contact: CheqUp: [email protected] 020 8050 9928 WeightWatchers: Marielena Santana [email protected]
IOL News
03-05-2025
- Automotive
- IOL News
Is the Miami Grand Prix a poor man's Monaco
Miami Grand Prix The Miami Grand Prix has a lot of fake structures that are not worth the expensive ticket prices, argues the writer. Photo: AFP Comment by Jehran Naidoo If there's one thing the sport of Formula 1 is known for, it's the oozing of luxury and flexing of wealth among the world's high society. Prior to the arrival of James Hunt and Lord Alexander Fermor-Hesketh, caviar and champagne were not common sightings at an F1 race. But when you look at Monaco in modern days, with Ferrari F40's being crane lifted onto luxury yachts, you get the sense that the sport has kept true to its roots. Roots so deep that the American promoters who are staging the Miami Grand Prix had to fake a marina around the track just to keep up with appearances.
