The new platform services subscription contract with a top
six U.S. pharma client marks a pivotal shift in Dario's pharma
channel, transitioning the business model from milestone-based to
recurring service subscription fees by expanding
engagement with payors and pharmacy benefit managers (PBMs)
NEW
YORK, Nov. 4, 2024 /PRNewswire/ -- DarioHealth
Corp. (Nasdaq: DRIO) ("Dario" or the "Company"), a leader in the
global digital health market, announced today a new collaboration
with a pharma company that will utilize Dario Connect (formerly
Twill Care) among their patient populations to further their
direct-to-consumer efforts using Dario's refined engagement and
navigation technologies.
In an effort to strengthen and expand connections across patient
populations that are candidates for a new drug to treat psoriasis,
a top pharmaceutical company chose Dario to pilot a cutting-edge
initiative aimed to help onboard patients that will engage with the
drug via the platform. This collaboration is designed to collect
critical insights on patient outcomes and drug effectiveness, with
Dario Connect's innovative community-building capabilities playing
a key role in enhancing patient engagement.
Dario Connect's collaboration goes beyond just connecting
patients with the new drug. As part of the contract, a
participating consumer health platform will work in congruence with
the pharma company to enable patients to aggregate all of their
medical records in one place. This allows the pharmaceutical
companies to access de-identified, aggregate data to monitor
patient outcomes and gain insights into prescription trends for the
drug. The financial structure of the collaboration with Dario will
start with a fixed configuration fee, followed by a platform and
services subscription fee structure that allows Dario Connect to
continue to bring engaged patients directly to the pharma company's
digital environment.
"Dario Connect's advanced approach aims to redefine how
pharmaceutical companies engage with patients, offering
unparalleled opportunities for data-driven insights and patient
support that can shape the future of healthcare. We are excited to
stand at the forefront of this industry trend, with this new and
innovative use for our product, especially with one of the top ten
global and top six U.S. pharma companies. We believe that we have
great momentum in our pharma channel pipeline, and we anticipate
seeing more recurring revenue-based collaborations in this channel
going forward," said Steven Nelson,
Chief Commercial Officer at Dario.
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 people continuous and
customized care for their 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 and 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 new pharma collaboration; the benefits
of Dario Connect's technology for patients and pharmaceutical
companies; the financial structure of the collaboration with Dario;
Dario's pharma channel pipeline; and Dario anticipating seeing more
recurring revenue-based collaborations going forward. 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.
DarioHealth Corporate Contact
Mary Mooney
VP Marketing
mary@dariohealth.com
+1-312-593-4280
DarioHealth Investor Relations Contact
Kat Parrella
Investor Relations Manager
kat@dariohealth.com
+315-378-6922
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SOURCE DarioHealth Corp.