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DarioHealth Corp. (NASDAQ: DRIO) is a leading digital health company revolutionizing how people with chronic conditions manage their health through a user-centric multi-chronic condition digital therapeutics platform. Dario's 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.
DarioHealth's holistic approach offers continuous and customized care, disrupting the traditional episodic approach to healthcare. The company empowers people to adapt their lifestyles for sustainable behavior change, driving exceptional satisfaction, retention, and results. Dario's solutions are globally available to health plans, self-insured employers, care providers, and consumers.
One of DarioHealth's latest achievements includes the acquisition of Twill, Inc., a move that nearly doubles its pro forma revenues for 2023 and enhances its ability to deliver comprehensive digital health solutions. The integration of Twill is expected to create immediate scale, boost gross margins to approximately 80-85% by 2025, and accelerate the path to profitability through significant cost synergies.
Recent news highlights include Dario's partnership with Blue Shield of California to make its award-winning digital health platform, Wellvolution, more accessible to Spanish speakers. This initiative aims to close care gaps in underserved communities by offering personalized solutions for hypertension, diabetes, weight management, and mental health support. Additionally, Dario announced a new contract to provide its cardiometabolic solution to a regional union, further expanding its presence in the public and labor sectors.
DarioHealth's clinical research continuously demonstrates the efficacy of its digital solutions. For instance, a recent study published in the Journal of Internet Medicine (JMIR) showed significant reductions in blood glucose levels and BMI for members using Dario's weight monitoring features. Other studies presented at the 17th International Conference on Advanced Technologies and Treatments for Diabetes highlighted the company's ability to deliver improved health outcomes through integrated solutions.
Financially, DarioHealth reported strong performance in Q1 2024, with revenues of $5.8 million driven by growth in its Business-to-Business-to-Consumer (B2B2C) model. The company continues to launch new customer partnerships and expects further revenue growth throughout 2024.
With a strong cash position and ongoing innovation, DarioHealth is well-prepared to execute its strategy and solidify its leadership in the digital health space.
DarioHealth Corp. (Nasdaq: DRIO) announced a registered direct offering on February 28, 2022, with institutional investors, raising approximately $40 million. The sale includes about 5.34 million shares priced at $7.49 each, along with pre-funded warrants. The proceeds will support the expansion of its digital health platform in the U.S. market and further development of new solutions. The offering is expected to close by March 3, 2022. It is conducted under a shelf registration statement with the SEC, ensuring compliance with securities laws.
DarioHealth Corp. (Nasdaq: DRIO) announced a study published in the Journal of Medical Internet Research highlighting the effectiveness of its integrated digital therapeutics platform in managing both diabetes and hypertension. The study revealed that users managing both conditions saw a significant reduction in average blood glucose and blood pressure levels, with 27% achieving more than a 10mmHg systolic blood pressure reduction. Dario emphasizes the importance of a holistic approach to chronic condition management and aims to lead in integrated health solutions.
DarioHealth Corp. (Nasdaq: DRIO) announced an agreement to acquire assets from Physimax Technologies Ltd., specializing in computer vision technology for musculoskeletal screening. This technology, used by organizations like the NBA and U.S. military, offers automated injury assessments and personalized training programs. The acquisition involves issuing up to 256,660 shares and a cash payment of $500,000, alongside assuming liabilities of approximately $1,020,000. DarioHealth aims to enhance its offerings, promoting growth in musculoskeletal health care while reducing reliance on human support.
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.
DarioHealth Corp. (Nasdaq: DRIO) is set to host an investor webinar on January 19, 2022, at 8 am ET, focusing on emerging digital health trends. The event will feature insights from industry experts Sari Kaganoff and David Kaplan, along with DarioHealth executives detailing the company's digital therapeutics platform and 2021 achievements. DarioHealth aims to transform healthcare with its AI-powered platform addressing chronic conditions like diabetes and hypertension. To register, visit their website.
DarioHealth Corp. (Nasdaq: DRIO) announced a strategic partnership with a leading employer benefits brokerage to provide its digital therapeutic solutions for diabetes, hypertension, and musculoskeletal health. This new employee health benefits product will be available to over 2,300 small business clients starting early 2022. DarioHealth was selected for its proven engagement and cost-effective clinical results, positioning it as the exclusive chronic condition management solution in the benefits package, potentially benefiting millions of small business employees.
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