DarioHealth (NASDAQ: DRIO), a pioneer in the global digital therapeutics market, has released its financial and business update report for the fourth quarter and full year 2020. The company reports significant progress across all aspects of its long-term strategic operating plan, including securing several accounts in the B2B (“B2B”) channel that are generating revenue and enrolling members and completing financing that provides capital to move forward on growth initiatives. In addition, DRIO’s acquisition of Upright allows the company to expand its digital therapeutics offering to include musculoskeletal. Other highlights included DRIO’s agreement to provide its digital therapeutics solution to eligible employees of the subsidiary of a U.S.-based Fortune 500 technology and engineering company and its agreement to provide its exclusive remote patient monitoring (“RPM”) solution to Presbyterian Medical Services, one of the largest integrated healthcare systems in New Mexico. The company also saw key additions made to its commercial management team and advisory board. In addition to releasing the report, Dario will host a simultaneous webcast and conference call to discuss the quarterly report. Interested parties can access the event by calling 877-451-6152 (domestic) and 201-389-0879 (international). A replay of the call can be accessed by dialing 844-512-2921 (domestic) or 412-317-6671 (international) and using the replay passcode 13716928. “The year 2020 was transformational for our company, as we made significant progress across all three pillars of growth: our transformation to a software as a service (SaaS) business model with high margin recurring revenues; our transition to a Business-to-Business-to-Consumer (B2B2C) focused digital therapeutics provider with larger member pools and lower customer acquisition costs; and the ongoing expansion of our product offering to manage multiple chronic conditions,” said Dario CEO Erez Raphael in the press release. “We won multiple contracts during the year that I believe validate our transition to B2B2C and provide a foundation for meaningful growth in 2021. We believe that our successful implementation and penetration of these contracts will contribute to growing revenue throughout 2021. . . . As we enter 2021, we have already launched, and are generating revenue from, all of the contracts that we have previously announced. Early enrollment has been robust and consistent with our expectations. We believe that these customer launches will contribute, along with anticipated additional contracts, to growing revenue in 2021 and beyond.”
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About DarioHealth Corp.
DarioHealth Corp. is a leading global digital therapeutics company revolutionizing how people with chronic conditions manage their health. Dario’s next-generation, AI-powered, digital therapeutic solutions support 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 offers one of the highest-rated diabetes and hypertension solutions on the market. The company’s cross-functional team operates at the intersection of life sciences, behavioral science, and software technology and is rapidly expanding into new chronic conditions and geographic markets, using a performance-based approach to improve its users’ health. Dario makes the right thing to do the easy thing to do. For more information about the company, please visit www.DarioHealth.com.
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