Dennis Matheis, President of Optima Health, a Multi-line Health Plan With More Than 850,000 Members and over 26,000 Providers, and Former President of Anthem Blue Cross and Blue Shield Central Region, Appointed to the Board of DarioHealth Corp

Rhea-AI Summary

DarioHealth Corp. (Nasdaq: DRIO) announced the appointment of Dennis A. Matheis to its Board of Directors as of July 2, 2020. Matheis, president of Optima Health, brings nearly 30 years of healthcare experience. His expertise is expected to enhance Dario's transition to a business-to-business-to-consumer model, focusing on chronic disease management. DarioHealth is known for its digital therapeutic solutions, particularly its MyDario™ app, which is well-regarded in the market.

Positive

• Appointment of Dennis A. Matheis adds significant healthcare experience to the Board.
• Matheis's background in health plans may strengthen Dario's B2B2C transition.
• DarioHealth's MyDario™ app is one of the highest-rated diabetes solutions.

Negative

• None.

NEW YORK, July 6, 2020 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO), a pioneer in the global digital therapeutics market, today announced that the company has appointed veteran health plan executive Dennis A. Matheis to its Board of Directors, effective July 2, 2020. Mr. Matheis brings to the Dario Board nearly 30 years of experience leading regional and national health care plans and related organizations. He currently serves as President of Optima Health, a division of Sentara Healthcare which has more than 850,000 members and a network of over 26,000 providers.

"We are very pleased that someone of Dennis' caliber and experience has agreed to join our Board at this critical time in Dario's evolution," said Erez Raphael, DarioHealth's Chief Executive Officer. "His insights and guidance will prove invaluable as we continue our transition to a business-to-business-to-consumer (B2B2C) enterprise serving people suffering from chronic diseases through direct relationships with health plans, large employers and benefits administrators. With the addition of Dennis, I believe we now have the leadership team and Board to fully support our vision for Dario."

"Over the course of my health care career, I have seen first-hand how even modest behavior changes can positively impact the long-term health of people suffering from costly and in some cases debilitating chronic medical conditions," stated Mr. Matheis. "I have been aware of Dario for some time now, and I believe the company's highly-engaging user platform sets the company apart and provides tangible results for patients and demonstrated savings for payers."

Dennis Matheis currently serves as President of Optima Health, a division of Sentara Healthcare with more than 850,000 members and over 26,000 providers. He also serves as Executive Vice President of Sentara Healthcare, a not-for-profit integrated health system located in Virginia. He has spent the past 28 years in senior leadership roles within the healthcare industry. Prior to joining Optima Health, Mr. Matheis spent 13 years at Anthem, Inc., including as President of Anthem's Central Region and Exchanges encompassing six states and representing $12 billion in annual revenue. He previously served in senior leadership roles at Anthem Blue Cross and Blue Shield of Missouri, CIGNA Healthcare and Humana Health Plan, as well as Advocate Health Care in Chicago.

Mr. Matheis serves on the Executive Committee of the Virginia Association of Health Plans (VAHP), the Board of Directors of the Virginia Chamber of Commerce and is a member of the Board of America's Health Insurance Plans (AHIP). He earned his B.S. in Accounting from the University of Kentucky and practiced as a Certified Public Accountant before entering the healthcare industry.

 About DarioHealth Corp.

DarioHealth Corp. (Nasdaq: DRIO) is a leading, global digital therapeutics company revolutionizing the way people with chronic conditions manage their health. By delivering evidence-based interventions that are driven by data, high-quality software and coaching, we empower individuals to make healthy adjustments to their daily lifestyle choices to improve their overall health. Our cross-functional team operates at the intersection of life sciences, behavioral science and software technology to deliver highly engaging therapeutic interventions. Dario is one of the highest-rated diabetes solutions in the market, and its user-centric MyDario™ mobile app is loved by tens of thousands of consumers around the globe. DarioHealth is rapidly moving into new chronic conditions and geographic markets, using a performance-based approach to improve the health of users managing chronic disease. To learn more about DarioHealth and its digital health solutions. For more information, visit http://mydario.investorroom.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 discusses its belief that it now has the leadership team and Board to fully support its vision for Dario which, if successful, will benefit patients and shareholders alike and the belief that it's highly-engaging user platform sets the company apart and provides tangible results for patients and demonstrated savings for payers.. 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.

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DarioHealth Corporate Contact:
Claudia Levi
Content & Communications Manager
claudia@mydario.com
+1-347-767-4220

Media Inquiries:
Investor Relations Contact:
Matthew Picciano
MPicciano@lifesciadvisors.com
+1-646-889-1200

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SOURCE DarioHealth Corp.

FAQ

Who is Dennis A. Matheis and what is his role at DarioHealth?

Dennis A. Matheis is the newly appointed Board member at DarioHealth, effective July 2, 2020. He is also the president of Optima Health.

What experience does Dennis A. Matheis bring to DarioHealth?

Matheis brings nearly 30 years of experience in regional and national healthcare plans, enhancing DarioHealth's strategic direction.

What is DarioHealth known for?

DarioHealth is known for its digital therapeutic solutions, particularly its MyDario™ app, which aids in managing chronic conditions.

How might Matheis's appointment affect DarioHealth's business strategy?

His expertise is expected to support DarioHealth's transition to a B2B2C model for chronic disease management.

What is the stock symbol for DarioHealth?

The stock symbol for DarioHealth is DRIO.