DarioHealth (NASDAQ: DRIO), a pioneer in the global digital therapeutics market, has completed a private placement transaction resulting in aggregate gross proceeds of an estimated $28.6 million. After deducting placement agent fees and other offering expenses, capital from the transaction, along with existing balance sheet cash, will be used to fund DRIO’s long-term strategic operating plan. “We are pleased to have the confidence of our largest shareholder and several new highly regarded healthcare investors as we expand our commercial to manage existing and anticipated near-term agreements with health care payers,” said Dario CEO Erez Raphael, chief executive officer of Dario. “The adoption rate of digital therapeutics has been accelerated by the current pandemic. Dario’s efficacious, value-oriented solution is well-positioned to compete in this largely untapped U.S. market.”
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About DarioHealth Corp.
DarioHealth is a leading, global, digital-therapeutics company revolutionizing the way people with chronic conditions manage their health. By delivering evidence-based interventions that are driven by data, high-quality software and coaching, the company empowers individuals to make healthy adjustments to their daily lifestyle choices to improve their overall health. The company’s cross-functional team operates at the intersection of life sciences, behavioral science and software technology to deliver highly engaging therapeutic interventions. Dario offers one of the highest-rated diabetes solutions in the market, and its user-centric MyDario(TM) mobile app is loved by tens of thousands of consumers around the globe. DarioHealth is rapidly moving into new geographic markets to address chronic conditions using a performance-based approach to improve the health of users managing chronic disease. For more information, visit the company’s website at www.DarioHealth.com
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