The new contract marks the eighth health plan for Dario and will contribute to revenues starting immediately.
NEW YORK, Oct. 30, 2024 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) ("Dario" or the "Company"), a leader in the global digital health market, announced today a new contract with a regional health plan in the Medicaid space, which has launched with the full suite of cardiometabolic solutions.
The launch with this new health plan marks the third Medicaid client for Dario, continuing a solid momentum within the Medicaid space. The newly signed health plan, familiar with Dario's results with another regional health plan, chose Dario based on the Company's success and reputation for driving engagement among diverse populations. Dario's ability to drive highly personalized member experiences across a wide range of channels and support modalities is attractive to Medicaid plans managing members with limited access to traditional channels. Starting with an initial pilot program, Dario will work closely with the health plan to bring its proven solutions to the plan's population, which includes nearly 10,000 Medicaid members.
"We believe that this contract demonstrates our ability to drive user engagement with historically hard-to-reach Medicaid populations, a challenge that few in our industry have successfully addressed," said Steven Nelson, Chief Commercial Officer at Dario. "Medicaid members present unique engagement challenges for digital health solutions, but our track record and novel approach to engagement has proven that Dario is ideally suited for this population. We pride ourselves on delivering value to our clients, which in this case has paved the way to this new relationship, which we estimate will contribute to our revenues in the fourth quarter of 2024. We see much more opportunity to expand in this segment of the market and we are committed to broadening our strategy to further our focus on Medicaid in 2025."
About DarioHealth Corp.
DarioHealth Corp. (Nasdaq: DRIO) is a leading digital health company revolutionizing how people with chronic conditions manage their health through a user-centric, multi-chronic condition digital therapeutics platform. Dario's platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain and behavioral health.
Dario's user-centric platform offers people continuous and customized care for their health, disrupting the traditional episodic approach to healthcare. This approach empowers people to holistically adapt their lifestyles for sustainable behavior change, driving exceptional user satisfaction, retention and results and making the right thing to do the easy thing to do.
Dario provides its highly user-rated solutions globally to health plans and other payers, self-insured employers, providers of care and consumers. To learn more about Dario and its digital health solutions, or for more information, visit http://dariohealth.com.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of DarioHealth Corp. related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses the benefits of the Company's solutions, particularly with respect to Medicaid members; the Company's ability to drive user engagement with historically hard-to-reach Medicaid populations; the expectation that the new relationship will contribute to its revenues in the fourth quarter of 2024; the Company's future opportunities to expand in the Medicaid segment of the market; and the company's commitment to broadening its strategy and further its focus on Medicaid in 2025. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company's commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
DarioHealth Corporate Contact
Mary Mooney
VP Marketing
mary@dariohealth.com
+1-312-593-4280
DarioHealth Investor Relations Contact
Kat Parrella
Investor Relations Manager
kat@dariohealth.com
+315-378-6922
Media Contact
Scott Stachowiak
Scott.Stachowiak@russopartnersllc.com
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SOURCE DarioHealth Corp.
