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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) has been chosen as a digital health provider by Alabama Regional Medical Services (ARMS), a Federally Qualified Health Center focused on hypertension management. This partnership aims to utilize Dario's Remote Patient Monitoring (RPM) technologies to improve health outcomes for underserved populations in Alabama, where over 40% report high blood pressure. This contract marks Dario's second recent win in the RPM sector. The alliance is expected to enhance clinical care while supporting financial goals for ARMS.
DarioHealth Corp. (Nasdaq: DRIO) will have its Chief Medical Officer, Omar Manejwala, M.D., present at the DTx Europe virtual conference on July 14, 2021, at 5:55 a.m. EST. His presentation, titled "Rebalancing: Digital Therapeutics in a Post-Pandemic Healthcare System," will address the evolving role of digital therapeutics post-pandemic. The conference focuses on defining the success of digital therapeutics, emphasizing how these solutions can effectively manage health outcomes and costs. DarioHealth aims to enhance health management through its innovative digital therapeutics platform.
DarioHealth Corp. (Nasdaq: DRIO) presented new clinical research at the ADA 81st Scientific Sessions, highlighting the effectiveness of its AI-driven personalization engine. The study involved 9,794 users, showing a 56% increase in engagement and a 12% reduction in average high-blood glucose readings over six months. A second study with 11,101 Type 2 diabetes members revealed a significant rise in target in-range readings from 28.4% to 54.8% over a year. These findings underscore Dario's commitment to enhancing health management through tailored interventions.
DarioHealth Corp. (Nasdaq: DRIO) has been selected as the digital health provider for Coastal Family Health Center, focusing on Remote Patient Monitoring (RPM) for hypertension. This initiative targets the high rate of hypertension in Mississippi, enabling better management for over 4,500 patients. Dario's AI-driven platform enhances patient-provider interactions and aims to reduce cardiac events and hospital admissions. The company plans to announce more B2B clients shortly, reinforcing its market position in digital therapeutics.
DarioHealth Corp. (NASDAQ: DRIO) has launched the Upright GO S, a wearable sensor designed to enhance back health accessibility. This product aligns with Dario's growth strategy, targeting both business partnerships and consumer markets. Currently, Dario boasts over 185,000 platform members. The Upright GO S aims to meet the rising demand for affordable musculoskeletal care, particularly as chronic back pain becomes prevalent among lower socioeconomic groups. The device is expected to diversify user engagement by utilizing AI-driven personalization, enhancing user experience across demographics.
DarioHealth Corp. (Nasdaq: DRIO) announced its inclusion in the Russell 3000® and Russell 2000® Indexes, effective June 28, 2021, following the annual reconstitution. This inclusion reflects Dario's growth as a pioneer in digital therapeutics and is expected to enhance company visibility among institutional investors, as approximately $9 trillion in assets are benchmarked to Russell indexes. CEO Erez Raphael highlighted the achievement as a testament to the team's efforts in revolutionizing chronic disease management through AI-powered solutions.
DarioHealth Corp. (Nasdaq: DRIO) has completed the acquisition of PsyInnovations, Inc. (wayForward) for $30 million, comprising $6 million in cash and up to $24 million in stock, contingent on meeting revenue targets in 2022. Approximately 898,500 shares will be issued at a price of $21.09 per share, with an additional 237,000 shares available based on performance. The founders of PsyInnovations will join DarioHealth, bringing expertise in behavioral health, enhancing Dario's digital therapeutic offerings.
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