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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 appointed Eitan Shay as Chief Product Officer and Arnaud Robert as Strategic Advisor to the CEO. These strategic appointments aim to enhance Dario's digital therapeutics platform amidst increasing market demand. Eitan Shay brings extensive experience from Livongo, Teladoc Health, and Meta Platforms. On April 3, 2023, Shay was granted stock options to purchase 100,000 shares at $3.93, alongside performance-based options for an additional 80,000 shares. Dario's innovative solutions empower individuals to manage chronic conditions more effectively, reinforcing the company's commitment to continuous improvement in healthcare delivery.
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.
DarioHealth Corp. (Nasdaq: DRIO) has entered into a strategic partnership with Amwell (NYSE: AMWL), integrating Dario's cardiometabolic solutions into Amwell's digital care delivery platform, which covers over 90 million lives. This collaboration aims to enhance the care experience for individuals with conditions such as diabetes and hypertension by providing access to Dario's personalized digital health solutions. The Dario cardiometabolic suite will be available to Amwell customers in the second half of 2023, promoting a seamless member journey and supporting better health management.
Amwell (NYSE: AMWL) has announced the launch of its new cardiometabolic program, enhancing its ecosystem of digital health solutions to better serve members with chronic diseases like diabetes and high blood pressure. This initiative, in partnership with DarioHealth (Nasdaq: DRIO), integrates Dario's personalized digital therapeutic solutions into the Amwell platform, facilitating seamless referrals for clinicians. The program aims to improve health outcomes by ensuring continuous care and engagement for over one-third of Americans living with metabolic conditions. Through connected devices and coaching, members experience a holistic approach to managing their health.
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