Business
Dario Launches Agreement with Large Regional Health Plan and Announces Preliminary Results for Second Quarter of 2023 as well as Business Update
New account is set to launch in July 2023 for eligible members NEW YORK, July 24, 2023 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) ("Dario" or the
About this update from Dariohealth Corp.
[{"type":"text","content":"New account is set to launch in July 2023 for eligible members \nNEW YORK, July 24, 2023 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) (\"Dario\" or the \"Company\"), a leader in the global digital health market, announced today a new agreement with a large regional health plan (the \"Plan\") to deliver highly personalized digital health solutions to more than 160,000 Plan members living with hypertension. The Plan is set to launch in late July 2023.\n \n \nThe Plan selected Dario's digital solution for hypertension, part of the Company's cardiometabolic product suite, to engage the Plan's members with a highly personalized and consumer-centric approach to managing hypertension. Dario's solution is proven to improve clinical outcomes and keep members engaged over time, and a streamlined implementation process made it easy for the Plan to launch and scale the program across eligible members.\n\"Dario's proven ability to effectively drive outcomes-based engagement and deliver better results for our partners is a winning proposition for payers,\" said Rick Anderson, President of Dario. \"We are excited to launch our new partnership with the Plan this month and start engaging its members with highly personalized support to help improve hypertension outcomes.\"\nDario Announces Preliminary Second Quarter Results and Business Update\nDario also announced today preliminary unaudited revenue results for the three months ended June 30, 2023 of between $6.0 million and $6.15 million, driven by growth in its Business-to-Business (B2B) sales channel, which has grown for the tenth quarter in a row due to the Company's strategic shift in resources. Revenue from strategic partnerships was less than expected in the second quarter due to fewer milestone deliveries than anticipated.\nDario's preliminary unaudited revenues for the six months ended June 30, 2023 were between $13 million and $13.15 million, resulting from the expected reduction in direct sales to consumers that took place during the same period.\nDario had preliminary unaudited cash and cash equivalents of $52.6 million as of June 30, 2023.\nStrategic partnerships continue to mature and yielded two notable wins for Dario this quarter, including contracts with MedOne Pharmacy Benefits Solution (MedOne) attributed to Sanofi, and the Plan attributed to Solera. Both contracts are exp...