Business
DarioHealth Expands Employer Footprint with Three New Contracts
Demonstrates robust demand in the employer market Contract launches anticipated to begin producing revenue this quarter NEW YORK, July 12, 2021 /PRNewswire/
About this update from Dariohealth Corp.
[{"type":"text","content":"Demonstrates robust demand in the employer market\n Contract launches anticipated to begin producing revenue this quarter\n\n\nNEW YORK, July 12, 2021 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO), a leader in the global digital therapeutics (DTx) market, today announced the launch of three new employer client contracts, including one global partnership, for the Company's new behavioral health solution powered by wayForward. These contracts are for a fixed monthly fee based on the number of employees with access to the behavioral health platform and are expected to contribute to revenue beginning in the third quarter of 2021.\n \n \nThe COVID-19 pandemic highlighted the importance of supporting employee behavioral health, and today employers increasingly cite mental health as a top organizational concern. A recent study found that 70% of U.S. employers cite mental health as a major workplace issue, a significant increase from 59% in the year prior.1 \nWe anticipate additional agreements for our behavioral health solution over the next couple of quarters from our existing pipeline of employers. Dario's behavioral health solution uniquely addresses an unmet need that exists in most company's behavioral health benefits for the large number of people who would benefit from some assistance, but do not have the severity of behavioral health issues that require provider visits. Our artificial intelligence (AI) based screening mechanism, digital cognitive behavioral therapy modules and human coaching allows us to provide care to a greater number of people at a lower average cost- a differentiated approach relative to competition. Importantly, our solution has been shown to significantly reduce anxiety and depression in clinical studies. \n\"We are excited to add additional customers for Dario's behavioral health solution and believe it continues to validate the expansion of our platform through the acquisition of wayForward. We believe that these contracts demonstrate the importance of being able to provide individual and integrated solutions while delivering significantly improved health outcomes and savings,\" said Rick Anderson, President and General Manager, North America, DarioHealth, \"We are also pleased to report that we have recently been selected to provide multiple solutions for several employer customers and look forward ...