Mass.-based company purchases 10% of Medifast shares

A supply chain and logistics company based in Waltham, Mass., has purchased nearly 10 percent of the shares of Medifast, a weight loss program company based in Owings Mills, in a series of transactions since late July, according to a Securities and Exchange Commission filing.

ModusLink Securities Corp., a wholly owned subsidiary of ModusLink Global Solutions Inc., purchased nearly 1.3 million shares of Medifast for about $35.4 million, which includes brokerage commissions.

The Massachusetts company said it invested in Medifast as part of its evaluations of potential acquisition and investment opportunities and will consider increasing or decreasing its stake based on market conditions.

Neither company could be immediately reached for comment.

lorraine.mirabella@baltsun.com