DarioHealth Corp., a leader in the global digital therapeutics (DTx) market, announced today that it has entered into a contract with a U.S. national employer (the "Employer") for the Company's full multi-condition suite of chronic condition management solutions, including diabetes, pre-diabetes, hypertension, musculoskeletal, behavioral health, and digital employee assistance programs. Enrollment of the Company's multi-condition suite of chronic condition management solutions is expected to begin in the first quarter of 2022, consistent with the Employer's benefit year.
"This new contract continues to validate Dario's investment in building a comprehensive, multi-condition digital therapeutics platform," said Erez Raphael, Chief Executive Officer of DarioHealth. "This new Employer is the first of many customers in our pipeline seeking an integrated multi-condition solution for some of their highest cost chronic conditions. Importantly, these full suite agreements can potentially generate 4-6 times more revenue than a single condition solution for Dario by expanding both the number of people eligible and the revenue per member."
Chronic conditions often co-occur, which creates challenges for employers that have historically had to identify and manage multiple vendors of point solutions when trying to improve employee health across conditions. It also creates a confusing and disjointed employee experience trying to use multiple solutions that don't interact with each other to manage their co-existing conditions. Dario's multi-chronic platform offers employers and employees a way to address the most common health comorbidities: diabetes, hypertension, obesity, behavioral and musculoskeletal health in one member experience across multiple conditions. Using a single AI-driven behavior change engine, Dario solutions deliver holistic support and a seamless user experience to help deliver better engagement and results.
"Employers recognize that siloed health management solutions are holding back progress. Dario's integrated multi-condition suite solution addresses the most commonly linked chronic conditions using one behavior change engine to impact the underlying causes in one seamless experience. We look forward to delivering a superior experience for the Employer's population to help engage and improve the health of the employees across the nation," said Rick Anderson, Dario's President and General Manager of North America.
About DarioHealth Corp.
DarioHealth Corp. (Nasdaq: DRIO) is a leading global digital therapeutics company revolutionizing how people with chronic conditions manage their health. DarioHealth offers one of the most comprehensive digital therapeutics solutions on the market - covering multiple chronic conditions including diabetes, hypertension, weight management, musculoskeletal and behavioral health within one integrated technology platform.
Dario's next-generation, AI-powered, digital therapeutic platform supports more than just an individual's disease. Dario provides adaptive, personalized experiences that drive behavior change through evidence-based interventions, intuitive, clinically proven digital tools, high-quality software, and coaching to help individuals improve health and sustain meaningful outcomes.
Dario's unique user-centric approach to product design and engagement creates an unparalleled experience that is highly rated by users and delivers sustainable results.
The company's cross-functional team operates at the intersection of life sciences, behavioral science, and software technology and utilizes a performance-based approach to improve its users' health.
On the path to better health, Dario makes the right thing to do the easy thing to do. To learn more about DarioHealth and its digital health solutions, or for more information, visit http://dariohealth.com.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of DarioHealth Corp. 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. For example, the Company is using forward-looking statements in this press release when it discusses timing of the enrollment of the Company's multi-condition suite of chronic condition management solutions, the Company's pipeline of customers, and potential revenues from full suite agreements. 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. 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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