In the news release, National Medicare Health Plan Partners with
Twill by Dario to Promote Healthy Aging with New Digital Mental
Health Benefits for Seniors, issued Oct. 1,
2024 by DarioHealth Corp. over PR Newswire, we are advised
by the company that an edit was made to the second paragraph. The
complete, corrected release follows:
National Medicare Health Plan Partners with Twill by Dario to
Promote Healthy Aging with New Digital Mental Health Benefits for
Seniors
The new contract significantly expands Dario's footprint with
more than a million eligible members beginning January 2025
NEW
YORK, Oct. 1, 2024 /PRNewswire/ -- DarioHealth
Corp. (Nasdaq: DRIO) ("Dario" or the "Company"), a leader in the
global digital health market, announced today a new contract with a
national Medicare Advantage health plan (the "Plan") to launch its
behavioral health solution for the Plan members beginning in
January 2025.
This new contract marks the beginning of a strategic
relationship, starting with Dario's behavioral health
solution, Twill by Dario, in 2025 and potentially expanding to
additional Dario solutions in 2026 and beyond. The contract is
expected to be a significant contributor to the annual recurring
revenue (ARR) growth in Dario's Business-to-Business-to-Consumer
(B2B2C) channel in 2025. This is the fourth national health plan
that Dario has contracted with, bringing the total to seven health
plans overall and marking the first national health plan contract
in the Medicare Advantage market.
The Plan selected Dario to offer a single solution to support
healthy aging by addressing broad emotional health and well-being
with integrated capabilities to address the Social Determinants of
Health (SDoH). Dario's AI-based network navigation will provide the
ability to integrate support across community resources and help
direct members to the right health plan benefits, optimizing
support for a wide variety of needs related to SDoH. Older
individuals engaging with Dario's digital Cognitive Behavioral
Therapy (CBT) programs will enjoy a tailored experience designed
for seniors to support healthy aging and drive improved behavioral
health outcomes.
Emotional health is a crucial aspect of the overall health of
seniors. In addition to existing mental health disorders, many
seniors experience mental health needs arising from changing life
circumstances, such as the loss of a loved one or serious illness
and may require support that extends beyond traditional mental
health care. Dario's behavioral health solution is proven to
effectively engage seniors and improve mental health with
evidence-based programs and emotional health and well-being support
that includes healthcare professionals, curated content, and
peer-to-peer communities.
"There is a misconception that seniors will not engage with
digital health, but our data tells us that is just a myth.
Pre-Twill, the senior population on the Dario's platform was
roughly 30%, a number that will expand with this partnership. The
high comorbidity rate between metabolic and mental health
conditions is something that Dario is prepared to address upon
expansion of this partnership down the road. Seniors will engage
with solutions that are tailored and relevant to their unique
needs, and we've proven this across behavioral health and chronic
health needs," said Steven Nelson,
Chief Commercial Officer at Dario. "We are excited about the
momentum of our B2B2C core channel to health plans and employers.
The addition of another national health plan to our client base
provides significant opportunity for revenue expansion and allows
us to implement our newly refined enrollment and engagement
technologies into a wider population of members. We believe that
our comprehensive product offering not only helps secure more
revenue from new clients but also generates additional revenues
from existing clients by exposing them to additional products or
larger populations. The B2B2C channel is contributing more than 70%
of our revenues as of the first quarter of 2024, and we expect it
to continue growing as a result of such contracts."
About DarioHealth Corp.
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.
Dario's user-centric platform offers continuous and customized
care for people's health, disrupting the traditional episodic
approach to healthcare. This approach empowers people to
holistically adapt their lifestyles for sustainable behavior
change, driving exceptional user satisfaction, retention, and
results, making the right thing to do the easy thing to do.
Dario provides its highly user-rated solutions globally to
health plans and other payers, self-insured employers, providers of
care, and consumers. To learn more about Dario 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
the expected timing of the contract launch, the potential for the
expansion of the contract with the Plan and expected implementation
timelines, the duration and value of the collaboration, the
potential increase in ARR in Dario's B2B2C channel in 2025, Dario's
AI-based network abilities and efficiency, future engagement of the
senior population on the Dario's platform, and the benefits of
Dario's platform and products. 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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DarioHealth Corporate Contact:
Mary Mooney
VP Marketing
+1-312-593-4280
DarioHealth Investor Relations Contact:
Kat Parrella
Investor Relations Manager
kat@dariohealth.com
+ 315-378-6922
Media Contact:
Scott Stachowiak
scott.stachowiak@russopartnersllc.com
+1-646-942-5630
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SOURCE DarioHealth Corp.