DarioHealth Enters into Agreement with Large Regional Health Plan

Rhea-AI Summary

DarioHealth Corp. (NASDAQ-CM: DRIO) announced a contract with a large regional health plan to provide its digital therapeutic solution for diabetes to eligible Medicaid members in the mid-Atlantic region. Expected to contribute to revenue in Q2 2022, this partnership aims to improve access to innovative diabetes care and reduce medical costs for Medicaid participants, who face significantly higher healthcare expenses. DarioHealth’s digital therapeutics platform addresses various chronic conditions, emphasizing personalized experiences and behavior change for better health outcomes.

Positive

• Contract with a large regional health plan to provide digital therapeutic solutions.
• Expected revenue contribution beginning in Q2 2022.
• Digital therapeutics aims to lower medical costs for Medicaid members with diabetes.

Negative

• None.

NEW YORK, Jan. 19, 2022 /PRNewswire/ -- DarioHealth Corp. (NASDAQ-CM: DRIO), a leader in the global digital therapeutics (DTx) market, announced today it has contracted with a large regional health plan (the "Plan") to deliver its digital therapeutic solution for diabetes for eligible Medicaid members in and around the mid-Atlantic region. The contract is expected to contribute to revenue beginning in the second quarter of 2022.

Medicaid participants living with diabetes have approximately three times higher cost of care compared to those living without the disease. Health plans face significant challenges in improving the health and reducing medical costs in these populations. Partnering with Dario to engage members via Dario's highly personalized digital therapeutics enables the Plan to deliver innovative solutions and improve access to digital care clinically shown to improve health and lower costs.

"We are pleased to partner with a leading regional plan to deliver cutting-edge diabetes care to their Medicaid members, an essential component often missing from public health programs. We have proven that we can engage people across socioeconomic backgrounds and believe that there are significant opportunities to address health inequities, through innovation, in Medicaid populations with our solution," said Rick Anderson, President and General Manager of North American at DarioHealth.

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 revenues to be derived from the contract and its belief that there are significant opportunities to address health inequities through innovation in Medicaid populations with its solution. 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.

Logo: http://mma.prnewswire.com/media/544126/DarioHealth_Logo.jpg

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-enters-into-agreement-with-large-regional-health-plan-301463752.html

SOURCE DarioHealth Corp.

FAQ

What is the significance of DarioHealth's contract with a regional health plan?

DarioHealth's contract is significant as it allows them to deliver diabetes care solutions to Medicaid members, which can improve health outcomes and reduce costs.

When will DarioHealth start generating revenue from the new contract?

DarioHealth expects to start generating revenue from the contract in the second quarter of 2022.

How does DarioHealth's solution benefit Medicaid participants?

DarioHealth's solution benefits Medicaid participants by providing personalized digital therapeutic care, which can lower their healthcare costs and improve disease management.

What conditions does DarioHealth's platform address?

DarioHealth's platform addresses multiple chronic conditions including diabetes, hypertension, weight management, musculoskeletal, and behavioral health.