The new platform services subscription contract with a top six U.S. pharma client marks a pivotal shift in Dario's pharma channel, transitioning the business model from milestone-based to recurring service subscription fees by expanding engagement with payors and pharmacy benefit managers (PBMs)
NEW YORK, Nov. 4, 2024 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) ("Dario" or the "Company"), a leader in the global digital health market, announced today a new collaboration with a pharma company that will utilize Dario Connect (formerly Twill Care) among their patient populations to further their direct-to-consumer efforts using Dario's refined engagement and navigation technologies.
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In an effort to strengthen and expand connections across patient populations that are candidates for a new drug to treat psoriasis, a top pharmaceutical company chose Dario to pilot a cutting-edge initiative aimed to help onboard patients that will engage with the drug via the platform. This collaboration is designed to collect critical insights on patient outcomes and drug effectiveness, with Dario Connect's innovative community-building capabilities playing a key role in enhancing patient engagement.
Dario Connect's collaboration goes beyond just connecting patients with the new drug. As part of the contract, a participating consumer health platform will work in congruence with the pharma company to enable patients to aggregate all of their medical records in one place. This allows the pharmaceutical companies to access de-identified, aggregate data to monitor patient outcomes and gain insights into prescription trends for the drug. The financial structure of the collaboration with Dario will start with a fixed configuration fee, followed by a platform and services subscription fee structure that allows Dario Connect to continue to bring engaged patients directly to the pharma company's digital environment.
"Dario Connect's advanced approach aims to redefine how pharmaceutical companies engage with patients, offering unparalleled opportunities for data-driven insights and patient support that can shape the future of healthcare. We are excited to stand at the forefront of this industry trend, with this new and innovative use for our product, especially with one of the top ten global and top six U.S. pharma companies. We believe that we have great momentum in our pharma channel pipeline, and we anticipate seeing more recurring revenue-based collaborations in this channel going forward," said Steven Nelson, Chief Commercial Officer at Dario.
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.
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 expected new pharma collaboration; the benefits of Dario Connect's technology for patients and pharmaceutical companies; the financial structure of the collaboration with Dario; Dario's pharma channel pipeline; and Dario anticipating seeing more recurring revenue-based collaborations going forward. 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.
