DarioHealth Corp. Strengthens Board of Directors with Two Additional Appointments
Mar 2, 2017
CAESAREA, Israel, March 2, 2017 /PRNewswire/ --
Two new board members are Managing Partners at OurCrowd Qure
New board members Dr. Yossi Bahagon and Allen Kamer bring unique vision and years of successful digital health executive and entrepreneurship experience
DarioHealth Corp. (NASDAQ: DRIO), a leader in digital health and mobile health solutions and the developer of the Dario™ Blood Glucose Monitoring System, today announced that two seasoned executives were appointed to its Board of Directors.
The two new board members are Dr. Yossi Bahagon and Allen Kamer – Managing Partners at OurCrowd Qure, the exclusive digital health fund that led the previously announced fundraising round in DarioHealth for an aggregate raise of up to $5.1 million, of which approximately $3.1 million has already closed. Both have had successful digital health careers in their own right, and bring over 45 years of combined senior managerial experience.
Prior to joining OurCrowd Qure, Dr. Bahagon founded and managed the second largest digital healthcare system in the world, touching millions of patients each month. In addition, Mr. Kamer brings extensive leadership experience, as he previously co-founded Humedica, a transformative population health and analytics company, which was sold to UnitedHealth (NYSE UNH - the largest U.S. health insurer) in 2013.
Erez Raphael, Chairman and CEO of DarioHealth commented on the appointment: "We have formed a strategic alliance with OurCrowd Qure and the appointment of Dr. Bahagon and Mr. Kamer solidifies this alliance. Dr. Bahagon is an expert in the digital health space, and Mr. Kamer is a leading expert on big data analysis. I believe their influence, mentorship and business development abilities will take DarioHealth to greater heights."
Allen Kamer, Managing Partner of OurCrowd Qure said, "DarioHealth is an extremely innovative company, and we are equally impressed with Mr. Raphael and his ability to lead the company and the outstanding accomplishments the company has achieved to date. The digital health self-management market is an emerging market and we think Dario's solution offers an exceptional user experience approach. Dr. Bahagon and myself are looking forward to working with the team and to execute the company's strategy and disrupt current healthcare delivery."
About DarioHealth Corp.
DarioHealth is a leader in digital health self-management solutions. DarioHealth delivers the ability to combine and analyze consumer health data to personalize treatment and advance medical knowledge. Dario's™ smart diabetes management solution is a platform for diabetes management that combines the Dario™ Blood Glucose Monitoring System all-in-one blood glucose meter, native smart phone app, website portal and a wide variety of treatment tools to support more proactive and better informed decisions by users living with diabetes, their doctors and healthcare systems. Having recently launched in the largest market in the world for glucose monitoring, U.S. sales are expected to have a significant impact on revenues and gross margins. With marketing clearance in Europe and the U.S., the Dario iOS mobile app recently launched with reimbursement in the United Kingdom, Australia, Israel, Italy, and Canada, and has also launched in New Zealand, Netherlands, Italy, and Belgium. For more information, visit http://mydario.investorroom.com/
About OurCrowd Qure
OurCrowd Qure, Israel's first exclusively focused digital health fund is focusing on investing in disruptive digital health companies. Qure focuses on solutions that significantly improve quality of patient care and health services, reduce costs of healthcare delivery, create transparency of information and empower consumers to make better health choices. Qure is OurCrowd's first sector fund dedicated to the rapidly developing digital health market. Qure has already established agreements with a global network of leading strategic partners to provide its portfolio companies with validation of value, fast track market access, on-going feedback and exposure of unmet needs. This digital health ecosystem raises the qualifications of our portfolio companies and enhances their ability to become market leaders.
OurCrowd is the leading global equity crowdfunding platform for accredited investors. Managed by a team of seasoned investment professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities, invests its own capital, and brings companies to its accredited membership of global investors. OurCrowd provides post-investment support to its portfolio companies, assigns industry experts as mentors, and takes board seats. The OurCrowd community of over 17,000 investors from over 110 countries has invested over $400M into 110 portfolio companies and funds.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of DarioHealth Corp. (the "Company") 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. 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. For example, when the Company describes the belief that the influence, mentorship and business development abilities of Messrs. Bahagon and Kamer will take the Company to new heights and that the U.S. sales are expected to have a significant impact on revenues and gross margins,, it is using 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™) 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 and Media Contact
DarioHealth Investor Relations Contact
Rob Fink / Brett Maas
+1-646-415-8972 / +1-646-536-7331
OurCrowd Qure Media and Investor Relations Contact
OurCrowd Communications Director
SOURCE DarioHealth Corp.