Business
DarioHealth Reports Second Quarter 2020 Results
Advanced discussions with health plans and self-insured employers furthering our transformation to a B2B2C digital therapeutics leader Established multiple
About this update from Dariohealth Corp.
[{"type":"text","content":"Advanced discussions with health plans and self-insured employers furthering our transformation to a B2B2C digital therapeutics leader\n Established multiple Remote Patient Monitoring agreements in the U.S. and U.K./Ireland\n Appointed health plan executive Dennis Matheis to its Board of Directors\n Completed a successful private placement of shares raising gross proceeds of $28.6 million\n Company to Host Conference Call and Webcast 9:00 am ET Today\n\n\nNEW YORK, Aug. 12, 2020 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO), a pioneer in the global digital therapeutics market, today reported financial results for the second quarter 2020 and provided a corporate and commercial update.\n \n \n\"The COVID-19 pandemic has accelerated our ongoing transformation to a business-to-business-to-consumer (B2B2C) digital therapeutics leader,\" said Erez Raphael, Chief Executive Officer of Dario. \"We advanced late-stage discussions with health plans and self-insured employers, who we believe recognize how our industry-leading user engagement and satisfaction metrics lead to improved health for their member and employee populations. Our pipeline continues to grow and mature, and although the normal sales cycle can be lengthy, we believe that we are poised to announce new and potentially transformational agreements in the next few weeks.\" \n\"At the same time, our Remote Patient Monitoring (RPM) product offering, which was just recently introduced, is seeing significant traction as evidenced by recently announced agreements in the U.S. and U.K. with more potential agreements in the pipeline.\" \n\"We believe that the expert webinar that we hosted in June featuring Key Opinion Leader (KOL) Dr. David Simmons, a diabetologist with 45 years of experience, reinforced the importance of digital therapeutics as a complement to current standards of care across the entire spectrum of chronic medical conditions. His work and expertise highlighted how behavior change, the core of the Dario platform, is at the root of improved health for the type 2 diabetes (T2D) population. At the American Diabetes Association's 80th Scientific Sessions, Dario added to its growing body of evidence with its presentation of the results of two studies demonstrating that digital therapeutics deliver tangible, sustainable health benefits to patients and cost savings to pa...