Business
DarioHealth Reports First Quarter 2020 Results
Continued transformation to a software as a service (SaaS)-based membership model with recurring revenues and higher margin profile Established partnership
About this update from Dariohealth Corp.
[{"type":"text","content":"Continued transformation to a software as a service (SaaS)-based membership model with recurring revenues and higher margin profile\n Established partnership with Vitality Group to accelerate penetration into the self-insured employer market\n Expanded offering to include behavioral health coaching and full suite of telemedicine capabilities\n Positioned platform to potentially drive substantial revenue growth in the second half of this year\n Company to Host Conference Call and Webcast 8:30 am ET Today\n\n\nNEW YORK, May 12, 2020 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO), a pioneer in the global digital therapeutics market, today reported financial results for the first quarter 2020 and provided a corporate and commercial update.\n \n \n\"In the first quarter of 2020, Dario executed in line with its multi-year strategic operating plan of creating a best in class digital health solution with a strong economic profile, including recurring revenues and high margins. With additional clinical data, an expansion of our platform and new interest from both clients and partners, we believe we have set the foundation for penetration into multiple Business-to-Business-to-Consumer (B2B2C) channels in the second half of this year. Irrespective of the global pandemic, we successfully expanded our remote care offering by partnering with MediOrbis to provide our 50,000 users additional ways to engage using a full-service telemedicine network of physicians,\" said Erez Raphael, DarioHealth's Chief Executive Officer. \"To build on our success in the first quarter, I am thrilled that Dr. Manejwala has joined the team as Chief Medical Officer. He brings decades of experience working with patients to achieve behavioral changes that potentially result in health improvement. In addition, he has spent the last decade working with health plans and other payors to deliver value added clinical programs at the intersection of chronic conditions and behavioral health.\"\n\"In a world that is trying to avoid unnecessary physician office visits, urgent care visits, and inpatient treatments, Dario has empowered its members by bringing healthcare solutions to their mobile devices. More importantly, as a new normal emerges post COVID-19, we believe that Dario is well-positioned to thrive in this environment.\"\n\"We believe that we continue to be success...