DarioHealth Lowers Diabetes Healthcare Costs in Canada
Partnership with A&D and STI affords 1.5 million innoviCares card holders new opportunities in diabetes healthcare
May 4, 2017
CAESAREA, Israel, May 4, 2017 /PRNewswire/ -- DarioHealth Corp. (NASDAQ: DRIO), a leading global digital health company with mobile health and big data solutions, today announced that it is teaming up with Auto Control Medical, an A&D Company, and STI Technologies Limited to lower diabetes healthcare costs in Canada, effective immediately. Through STI's innoviCares card, which is available throughout all provinces and territories in Canada, DarioHealth customers will be eligible for additional savings when shopping for Dario supplies in local pharmacies.
The innoviCares card is a free program that assists over 1.5 million Canadians to save money on selected prescriptions and healthcare products. It works just like any insurance card and covers a portion of the cost on many brand name products. Any Canadian is eligible for the innoviCares program and there are no eligibility requirements. DarioHealth worked with Auto Control Medical, its exclusive Canadian partner, to secure this deal with STI. Under the agreement, diabetes consumers will get up to $10 off the cost of Dario™ Blood Glucose Test Strips.
With DarioHealth's diabetes management systems, consumers are enabled to track and monitor their blood glucose levels in a simple manner, as the acclaimed Dario™ Blood Glucose Monitoring System connects directly to ones' smartphone. This provides people with diabetes an unrivaled method for self-diabetes management.
Erez Raphael, Chairman and CEO of DarioHealth, commented on the announcement, "STI is more than a prescription reimbursement plan; they support the healthcare system in order to improve health outcomes for Canadian patients, and DarioHealth is excited to collaborate with them and A&D on this new initiative. We believe in giving consumers the best tools to manage their treatment. In Canada alone, there are 11 million people living with diabetes or prediabetes, and DarioHealth is dedicated to provide them with excellent treatment for their diabetes management."
Robert Burgy, General Manager of Auto Control Medical, said in a joint statement with STI, "We are pleased to announce the addition of Dario products to the innoviCares card. Effective immediately, the innoviCare card will provide financial assistance to customers seeking the Dario Blood Glucose Test Strips when they present their card with a prescription at their pharmacy. In addition to savings, we afford customers smart options like setting refill reminders, which ensures they never run out of the Dario test strips. 57% of people with diabetes in Canada report high out-of-pocket expenses and we believe this will alleviate some of the cost."
DarioHealth is the creator of the all-in-one blood glucose meter that is small enough to fit in one's pocket or purse. For more information about this partnership visit: https://www.innovicares.ca/en/dario.
About Auto Control Medical, an A&D Company
Auto Control Medical is a division of A&D Canada, Inc., a subsidiary of A&D Company.
Auto Control Medical is one of the premier distributors of hypertension, diabetes and respiratory products in Canada. Auto Control Medical has developed an extensive customer network in its more than 17 years of service, and distributes healthcare products through pharmacies, home care stores and other channels throughout Canada.
Since 1977, A&D Medical has manufactured and distributed a full line of advanced biometric monitoring solutions including blood pressure monitors, weight scales, activity monitors, and other health monitoring devices for consumer and professional use. A&D Medical is the worldwide leader in connected health and biometric measurement devices and services for consumer wellness and chronic condition management, marketing under the A&D brand globally and also the LifeSource brand in North America. A&D Medical is a division of A&D Company, a global manufacturer of measurement equipment, with operations in Asia, Europe, Australia, Russia, North America, and South America.
InnoviCares is Canada's largest free prescription savings card, covering more than 100 brand-name medications and healthcare products from 23 Canadian pharmaceutical manufacturers.
The innoviCares card works like any drug insurance card at the pharmacy, instantly paying a portion of the cost of participating products. Funded by participating pharmaceutical manufacturers, innoviCares is easy to use and available to all Canadians at no cost.
InnoviCares delivers choice, is easy to use, and supports Canadians to achieve better health outcomes. We're empowering Canadians to take control of their health.
More information: https://www.innovicares.ca/en.
About DarioHealth Corp.
DarioHealth Corp. is a leading global digital health company serving tens of thousands of users with dynamic mobile health solutions. We believe people deserve the best tools to manage their treatment, and harnessing big data, we have developed a unique way for our users to analyze and personalize their diabetes management. With our smart diabetes solution, users have direct access to track and monitor all facets of diabetes, without having the disease slow them down. The acclaimed Dario™ Blood Glucose Monitoring System all-in-one blood glucose meter and native smartphone app gives users an unrivaled method for self-diabetes management. DarioHealth is headquartered in Caesarea, Israel with a regional office in Burlington, Massachusetts. For more information, visit http://mydario.investorroom.com/.
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. 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
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SOURCE DarioHealth Corp.