DarioHealth's Digital Therapeutics Solution Selected as Employee Health Benefit by Self-Insured, Fortune 500 Company

Rhea-AI Summary

DarioHealth Corp. (Nasdaq: DRIO) has secured a contract to provide its digital therapeutic solutions to eligible employees of a Fortune 500 technology company, starting January 1, 2021. This initiative aims to enhance the health management of chronic conditions like diabetes and hypertension. The contract is a significant milestone, showcasing Dario's strategic pivot towards the B2B2C market. The award highlights the competitive strength of Dario's digital care solution, which is already used by tens of thousands of consumers globally.

Positive

• Contract secured with a Fortune 500 technology company for digital therapeutics, effective January 1, 2021.
• Marks a strategic shift towards the B2B2C market, validating the competitive strength of Dario's solutions.

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• None.

NEW YORK, Nov. 24, 2020 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO), a pioneer in the global digital therapeutics market, announced today that it has signed a contract to provide its digital therapeutics solution to eligible employees of a U.S.-based Fortune 500 technology company.

Dario will be available to eligible employees and dependents effective January 1, 2021, concurrent with the start of the benefits year.  Dario helps manage and improve the health of people living with chronic conditions such as diabetes and hypertension.

We believe that employees will benefit from Dario's unique therapeutic approach, which delivers adaptive, personalized experiences designed to drive behavior change through intuitive, clinically proven digital tools and coaching.  These employees will join a community of tens of thousands of members who engage with Dario every day to measurably improve their health.

"This contract was awarded through a request for proposal (RFP) process that included Dario's largest competitors and we believe it represents an important milestone in our strategic shift toward the business-to-business-to-consumer (B2B2C) market comprised of self-insured employers, healthcare provider networks, and insurance plans," commented Rick Anderson, President and GM of North America.  "We believe this further validates the competitive strength of our top-rated digital chronic care solution and will serve as an important market reference in converting our employer pipeline."

About DarioHealth Corp.

DarioHealth Corp. (Nasdaq: DRIO) is a leading global digital therapeutics company revolutionizing how people with chronic conditions manage their health. By delivering evidence-based interventions driven by connected devices, data, high-quality software, and coaching, that company makes the right thing to do the easy thing to do. The company's cross-functional team operates at the intersection of life sciences, behavioral science, and software technology. Dario offers one of the highest-rated diabetes and hypertension solutions on the market its highly engaging, user-centric MyDario™ mobile app is used regularly by tens of thousands of consumers worldwide. The company is rapidly expanding into new chronic conditions and geographic markets, using a performance-based approach to improve its users' health. 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. (the "Company") 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. 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. For example, the Company is using forward-looking statements in this press release when it states its belief that employees will benefit from the Company's unique therapeutic approach, which delivers adaptive, personalized experiences designed to drive behavior change through intuitive, clinically proven digital tools and coaching,  that the contract represents an important milestone in the Company's strategic shift toward the B2B2C market comprised of self-insured employers, healthcare provider networks, and insurance plans and the belief that the agreement further validates the competitive strength of the Company's top-rated digital chronic care solution and will serve as an important market reference in converting its employer pipeline. 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™) 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

Investor Relations Contact:

Chuck Padala
chuck@lifesciadvisors.com
+1-646-627-8390

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SOURCE DarioHealth Corp.

FAQ

What is DarioHealth's latest contract announcement?

DarioHealth has announced a contract to provide its digital therapeutics solution to eligible employees of a Fortune 500 technology company, starting January 1, 2021.

How does DarioHealth's digital solution help employees?

Dario’s solution helps manage chronic conditions such as diabetes and hypertension through personalized digital tools and coaching.

What market shift is DarioHealth aiming for?

DarioHealth is shifting towards the B2B2C market, targeting self-insured employers and healthcare provider networks.

When will the DarioHealth services be available to employees?

The services will be available to employees starting January 1, 2021.

What benefits does DarioHealth's solution provide?

The solution is designed to improve health outcomes for chronic condition management through adaptive and clinically proven digital tools.