Dario Selected as Digital Therapeutics Partner by a Top-Ten Digitally Enabled Pharmacy Benefits Manager
DarioHealth Corp. (Nasdaq: DRIO) has announced a significant contract with a leading nationwide Pharmacy Benefits Manager (PBM) to provide its digital therapeutics, including a diabetes solution, starting in Q2 2023. This contract marks the first outcome of Dario's strategic partnership with Sanofi and is expected to replace the PBM's existing diabetes solution. The initiative aims to enhance Dario's portfolio in the employer and payer markets, generating revenue growth through 2023. The partnership is a vital step in Dario's strategy to expand its digital health solutions, demonstrating the value of collaborations in the rapidly growing digital therapeutics sector.
- New contract with a top nationwide PBM to provide digital therapeutics, indicating strong market demand.
- Expected revenue generation in the second quarter of 2023, with growth anticipated through the year.
- First contract resulting from the partnership with Sanofi, showcasing successful collaboration.
- None.
New agreement is the first contract resulting from strategic partnership with Sanofi
NEW YORK, March 27, 2023 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) ("Dario" or the "Company"), a leader in the global digital therapeutics (DTx) market, announced a new contract with a leading nationwide Pharmacy Benefits Manager (the "PBM") operating in 50 states to provide Dario's digital therapeutics, starting with the diabetes solution, to employer clients beginning in the second quarter of 2023.
Through the new contract, the PBM will replace an existing digital diabetes solution with Dario's proven cardio metabolic digital therapeutic. Dario's solution joins a growing roster of digital health solutions for the PBM, one of the top ten digitally-enabled PBM platforms in the country. Members who are currently users of the PBM's digital diabetes offering will be transitioned to Dario upon launch, which is expected to generate revenue in the second quarter and grow significantly through the rest of 2023. Post-launch, Dario's solutions will be part of the PBM offering to their recent and future customer additions.
The agreement is the first contract to originate through Dario's previously announced strategic partnership with Sanofi U.S. ("Sanofi"), representing a major milestone achievement one year into the agreement. The co-promotion of the Dario solution is one part of the agreement with Sanofi, which also includes ongoing development on the Dario platform and collaboration on data and studies supporting the Dario solution. This new agreement represents an expansion of Dario's partnership strategy into PBMs. Dario is focused on building a strong and diverse set of partnerships with market-leading health care companies to accelerate adoption of Dario's solutions across the employer and payer markets.
"We are fortunate to have our first PBM partner be with an organization that understands the value of digital therapeutics and has the experience and capabilities to deploy our solutions at scale," said Rick Anderson, President of Dario. "This contract also demonstrates the value of our partnership with Sanofi. After a year of working collaboratively to promote Dario's solutions to the market, we are excited to see the initial success of those efforts taking shape as the partnership matures."
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 their 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 and making the right thing to do the easy thing to do.
Dario provides its highly user-rated solutions globally to health plans and other payers, self-insured employers, providers of care and 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 agreement with the PBM, the transition of current users of the PBM's digital diabetes offering \to Dario and Dario's solutions being part of the PBM offering post launch, the expected revenue in the second quarter and expected growth through the rest of 2023, that the agreement with Sanofi represents an expansion of Dario's partnership strategy into PBMs, and Dario's focus on building a strong and diverse set of partnerships with market-leading health care companies to accelerate adoption of Dario's solutions across the employer and payer markets . 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.co
+1-646-942-5630
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SOURCE DarioHealth Corp.
FAQ
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