DarioHealth Looks to Accelerate Market Penetration with Expanded Health Insurance Coverage to Target up to 10 Million Consumers
Jun 21, 2017
CAESAREA, Israel, June 21, 2017 /PRNewswire/ -- DarioHealth Corp. (NASDAQ: DRIO), a leading global digital health company with mobile health and big data solutions, today announced that it is expanding its insurance coverage provider network across the U.S. with additional service providers that will be able to target up to 10 million consumers with diabetes.
Earlier this year, DarioHealth began offering a 3rd party insurance coverage option for U.S. consumers who wanted to have their DarioHealth products reimbursed by insurance. After a successful pilot program, industry leader DarioHealth is expanding its provider network as it continues market acceleration with additional insurance coveragc e access for U.S. consumers.
Erez Raphael, Chairman and CEO of DarioHealth, commented, "Our goal is to deliver the Dario™ Blood Glucose Monitoring System into as many hands of those who need it, and with the additional insurance coverage option, we expect to have the capabilities to cover up to 30% of consumers in the U.S. diabetes market.
"In just a few months since launching our insurance health coverage initiative, we have received tremendous feedback and we are able to offer insurance reimbursement from companies such as Aetna, United HealthCare, and various Blue Cross Blue Shield organizations. As such, we have signed on additional partners to increase our U.S. market penetration."
The Dario® all-in-one diabetes management system, with a native smartphone app, is highly engaging and has the feel of a wearable technology, while maintaining the highest medical standards. Since its 2016 U.S. market launch, DarioHealth has shown sequential quarterly growth in its U.S.-customer base due to a user-centric approach, which is altering the digital health landscape.
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. For example, when the Company states that expanding its insurance coverage provider network will enable it to target up to 10 million consumers with diabetes, and that it expects to be able to cover up to 30% of consumers in the U.S. diabetes market, 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
SOURCE DarioHealth Corp.