DarioHealth Announces Agreement with Leading National Health Plan
DarioHealth Corp. (Nasdaq: DRIO) has entered an agreement with a major U.S. national health plan to provide its digital behavioral health solution to self-insured employers. Initial member access is expected in Q4 2021, with wider rollout in 2022. Dario will earn a monthly fee for each member. This partnership aims to enhance mental health care access and improve member experience through AI-driven personalized care options. The agreement could generate millions in annual revenue and signifies potential for further opportunities with this client.
- Partnership with a major U.S. national health plan providing a path to millions in annual revenue.
- AI-driven personalized care options enhance member experience.
- None.
NEW YORK, Oct. 14, 2021 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO), a leader in the global digital therapeutics (DTx) market, announced today it has entered into an agreement with one of the largest U.S. national health plans ("Plan") to offer its self-insured employer customers the Dario digital behavioral health solution as part of its behavioral health offering. Initial members are expected on the platform in the fourth fiscal quarter of 2021, with additional rollout anticipated over the course of 2022. Dario will be paid a monthly fee for members that have access to the platform.
Improving access to mental health care continues to be a top priority for payers, and technology-enabled care plays a key role in augmenting traditional provider networks. The Plan chose Dario's digital behavioral health solution to help improve access by using the Dario behavioral health platform as a central digital point of engagement to connect members with Dario tools, coaching and the Plan's full suite of behavioral health resources.
The integration is also anticipated to help improve the experience for Plan members by utilizing Dario's highly personalized approach to care. Using Dario's AI-driven screening and triage capabilities, members will receive a set of care options tailored to their unique needs.
"Mental health care is complex and rife with barriers to care. We are excited to partner with the Plan to help solve for these issues and support their vision of more accessible and effective care that delivers better results for their clients," said Rick Anderson, President and General Manager of North American at DarioHealth. "This is a landmark agreement for Dario that has the potential to generate millions of dollars in annual revenue. While this partnership represents a significant opportunity on its own, we believe it is just one of many potential opportunities with this customer."
About DarioHealth Corp.
DarioHealth Corp. (Nasdaq: DRIO) is a leading global digital therapeutics company revolutionizing how people with chronic conditions manage their health. DarioHealth offers one of the most comprehensive digital therapeutics solutions on the market - covering multiple chronic conditions including diabetes, hypertension, weight management, musculoskeletal and behavioral health within one integrated technology platform.
Dario's next-generation, AI-powered, digital therapeutic platform supports more than just an individual's disease. Dario provides adaptive, personalized experiences that drive behavior change through evidence-based interventions, intuitive, clinically proven digital tools, high-quality software, and coaching to help individuals improve health and sustain meaningful outcomes.
Dario's unique user-centric approach to product design and engagement creates an unparalleled experience that is highly rated by users and delivers sustainable results.
The company's cross-functional team operates at the intersection of life sciences, behavioral science, and software technology and utilizes a performance-based approach to improve its users' health.
On the path to better health, Dario makes the right thing to do the easy thing to do. 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 potential benefits that may be realized by Plan members utilizing the Dario platform, the expected timing of the enrollment of the Plan's members, the expected potential annual revenues that may be realized and its belief that this agreement is one of many potential opportunities with this customer. 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
Suzanne Bedell
VP Marketing
suzanne@dariohealth.com
+1-347-767-4220
Media Contact:
Josephine Galatioto
Josephine.Galatioto@russopartnersllc.com
+1-212-845-4262
View original content:https://www.prnewswire.com/news-releases/dariohealth-announces-agreement-with-leading-national-health-plan-301400114.html
SOURCE DarioHealth Corp.
FAQ
What new partnership did DarioHealth announce on October 14, 2021?
When is the expected rollout of DarioHealth's services to the health plan members?
How much revenue is expected from the agreement with the national health plan?
What technology does DarioHealth utilize to improve member experience?
