Dario Achieves Goal of 100 Business-to-Business Contracts in 2022

Rhea-AI Summary

DarioHealth Corp. (NASDAQ: DRIO) announced a partnership with a major Northeast supermarket chain to enhance employees' cardiometabolic health starting in Q1 2023. This contract marks Dario's achievement of 100 enterprise contracts, validating its strategic position in the digital therapeutics market. The suite focuses on managing diabetes, hypertension, and weight management via integrated solutions. The Company anticipates growth due to increasing demand for multi-condition solutions from enterprise customers.

Positive

• Achievement of 100 enterprise contracts, indicating strong market validation.
• The contract with a supermarket chain signifies growing demand for integrated multi-condition solutions.
• Dario's holistic approach to health management could drive user satisfaction and retention.

Negative

• None.

Northeast supermarket chain will deploy Dario's cardiometabolic suite in 2023

NEW YORK, Jan. 3, 2023 /PRNewswire/ -- DarioHealth Corp. (NASDAQ: DRIO) ("Dario" or the "Company"), a leader in the global digital therapeutics (DTx) market, announced today that a large Northeast U.S. supermarket chain (the "Employer") selected Dario to help improve the cardiometabolic health of its employees beginning in the first quarter of 2023, marking the Company reaching 100 enterprise contracts signed. This milestone achievement validates the Company's strategic position as a leading provider of integrated digital chronic condition management solutions in the employer and payer markets.

The Employer selected Dario's cardiometabolic suite to support employees living with diabetes, high blood pressure and weight management needs using a holistic approach that combines connected devices, smart technologies and human support to improve overall health.

"Throughout 2022 we saw that the demand for our integrated multi-condition solutions grow at a steady pace, and the addition of this Employer marks a tremendous achievement for Dario. Hitting our goal of 100 contracts by the end of 2022 is a testament to the vision we set forth over a year ago.  The fact that most of the contracts signed in 2022 and more than 50% of our pipeline are for multiple conditions represents market validation of our multi-condition suite approach. There is a clear trend with enterprise customers seeking multiple conditions from less vendors. Given our multi-condition suite strategy we believe that we are well positioned for growth in the future market," said Rick Anderson, President of Dario.

About DarioHealth Corp.

DarioHealth Corp. (NASDAQ: DRIO) is a leading digital therapeutics (DTx) company revolutionizing how people with chronic conditions manage their health through a user-centric multi-chronic condition platform. Our platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain, and behavioral health. 

Our user-centric platform offers people continuous and customized care for health, disrupting the traditional episodic approach to healthcare. This approach empowers people to holistically adapt their lifestyles for sustainable behavior change, driving exceptional user satisfaction, retention, and results. Making the right thing to do the easy thing to do.

Dario provides its highly user rated solutions globally to health plans and other payors, self-insured employers, providers of care and directly to consumers. To learn more about DarioHealth and its digital health solutions, or for more information, visit http://dariohealth.com.

Cautionary Note Regarding Forward-Looking Statements

This news release and the statements of representatives and partners of DarioHealth Corp. related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses the expected timing of the contract launch, the potential benefits that may be realized by users utilizing the Dario platform for multiple conditions, the market's trend of enterprise customers seeking multiple conditions from less vendors,  that the Company is starting to see momentum building through its partnerships as those relationships mature and its belief that it is well positioned for growth in the future market. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company's commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

DarioHealth Corporate Contact

Mary Mooney
VP Marketing
mary@dariohealth.com
+1-312-593-4280

Media Contact:

Scott Stachowiak
Scott.Stachowiak@russopartnersllc.com
+1-646-942-5630

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SOURCE DarioHealth Corp.

FAQ

What significant milestone did DarioHealth achieve in January 2023?

DarioHealth announced it signed its 100th enterprise contract, marking a significant milestone for the company.

What services will DarioHealth provide to the Northeast supermarket chain?

DarioHealth will provide its cardiometabolic suite to improve the health of employees dealing with diabetes, hypertension, and weight management.

How does DarioHealth plan to support employee health?

The Company utilizes a holistic approach combining connected devices, smart technologies, and human support.

When will DarioHealth's program for the supermarket chain launch?

The program is set to launch in the first quarter of 2023.

What market trend is DarioHealth capitalizing on with its recent contracts?

DarioHealth is capitalizing on the trend of enterprise customers seeking multiple condition management solutions from fewer vendors.