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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 partnership with Presbyterian Medical Services to deliver its remote patient monitoring (RPM) solution starting January 1, 2021. This collaboration aims to enhance care for patients with chronic conditions like diabetes and hypertension. Following a rigorous evaluation process, Dario's AI-powered RPM was selected for its superior technology and ability to improve patient engagement and health outcomes. The financial details of the agreement were not disclosed.
DarioHealth Corp. (Nasdaq: DRIO) has secured a partnership with Presbyterian Medical Services to implement its remote patient monitoring (RPM) solution, effective January 1, 2021. This collaboration aims to enhance care for patients with chronic conditions like diabetes and hypertension. Following a competitive evaluation, Dario's RPM solution was chosen for its superior technology and user experience. Financial terms of the agreement were not disclosed, but the partnership highlights Dario's commitment to improving patient health outcomes, particularly during the COVID-19 pandemic.
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.
DarioHealth Corp. (NASDAQ: DRIO) presented a clinical study at the 20th Annual Diabetes Technology Society Meeting, highlighting significant improvements in diabetes management for adults aged 65 and older using its digital therapeutics platform. The study, involving 940 participants, showed a 13% reduction in average blood glucose levels over six months and a 38.1% drop in high blood glucose readings in subjects older than 65. Results indicated that outcomes for older adults were comparable or even better than those for younger participants, suggesting the platform's efficacy in managing chronic conditions.
DarioHealth Corp. (Nasdaq: DRIO) reported third-quarter 2020 revenues of $2.04 million, a 14.2% sequential increase. The company successfully penetrated the B2B2C market, establishing partnerships with Vitality Group and HMC Healthworks to expand its user base. Despite growth, gross profit fell by 37% to $549,000, and operating losses rose to $6.6 million, a 136% increase year-over-year. Cash reserves stand at $37 million, the highest in company history, supporting further investments. However, total operating expenses increased by 94.7%, primarily from marketing and compensation costs.
DarioHealth Corp. (Nasdaq: DRIO) announced it will release its financial results for Q3 2020, ending September 30, on November 12, 2020. A conference call is scheduled for 9:00 AM Eastern Time to discuss the results, featuring key executives including CEO Erez Raphael. The call will allow investors to gain insights into the company's financial performance and future outlook within the digital therapeutics market. A replay of the call will be accessible for two weeks following the event.
DarioHealth Corp. (Nasdaq: DRIO) announced its digital therapeutics solutions will be integrated into Vitality Group's new Gateway Flex offering. This partnership aims to provide employers with personalized healthcare solutions, enhancing employee engagement and cost-effectiveness. Dario's President, Rick Anderson, expressed confidence that this inclusion validates their digital therapeutic solutions. The partnership with Vitality Group, initiated in March 2020, aims to accelerate Dario's reach within the self-insured employer market, catering to the increasing demand for tailored health applications.
DarioHealth Corp. (Nasdaq: DRIO) has partnered with HMC HealthWorks to integrate its digital therapeutics solutions into HMC's care management programs. This collaboration enables HMC to offer DarioHealth's platform both independently and as part of its comprehensive health management services. DarioHealth aims to enhance chronic condition management for patients, validating its transition to a digital therapeutics provider. The partnership is expected to expand DarioHealth's distribution and build a client pipeline within HMC's extensive customer base.
DarioHealth Corp. (Nasdaq: DRIO) has appointed Eric Milledge as Chairman of its newly-formed Scientific Advisory Board (SAB). With over 34 years at Johnson & Johnson, Milledge brings extensive experience in pharmaceuticals and medical devices. His leadership roles included overseeing successful product launches and managing strategic hospital contracts. At DarioHealth, he will guide the SAB in enhancing digital therapeutics for chronic conditions, focusing on creating data supporting Dario's technology platform and expanding its offerings, like the integration of continuous glucose monitors.
DarioHealth Corp. (Nasdaq: DRIO) announced the acceptance of a poster for presentation at the virtual ADCES 2020 Annual Conference from August 13-16, 2020. The poster titled "Impact of Digital Management on Clinical Outcome in Patients with Chronic Conditions: Diabetes and Hypertension" highlights a study with 345 participants using Dario's digital therapeutics platform. Results show a 70% improvement in blood pressure and significant reductions in glucose levels among users diagnosed with diabetes. The findings position Dario's platform as a valuable tool for managing chronic diseases.
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