DarioHealth Joins Philips-backed Innovation Hub HighTechXL to Empower More Diabetes Patients to Analyze and Personalize Their Treatment
Sep 20, 2017
CAESAREA, Israel and EINDHOVEN, Netherlands, Sept. 20, 2017 /PRNewswire/ -- DarioHealth Corp. (NASDAQ: DRIO), a smart diabetes solution, and HighTechXL, a corporate-backed accelerator based in Eindhoven, The Netherlands, announce their strategic collaboration to bring personalized healthcare management to diabetes and pre-diabetes patients around the world.
Backed by an alliance of corporations and regional organizations, including Philips, the HighTechXL Acceleration program selected DarioHealth because of its strong management team, innovative business model, and smart solutions for diabetes management.
DarioHealth develops cloud-based diabetes platforms that include a native mobile solution helping patients to manage diabetes related information and a platform that facilitates coaching. The all-in-one Dario Blood Glucose Monitoring System is capable of sharing real-time results with healthcare professionals via the personalized AI-driven application.
Globally, DarioHealth is already cleared by four major regulatory bodies including Health Canada, CE, TGA, and the U.S. FDA for both iOS and certain Android devices. The product is available in the United States, United Kingdom, Australia, Canada, New Zealand, The Netherlands, Israel, and Italy. In addition, DarioHealth has received reimbursement coverage for plans in the United Kingdom, Australia, Italy, and Canada, and is also covered by 3rd-party insurance agreements in the United States.
Guus Frericks, Managing Director of HighTechXL acknowledges: "We were impressed by DarioHealth's solution and by the execution capabilities of the company. The company managed to create and enroll a very user-centric solution that is truly data-driven and personalized. We believe HighTechXL's team experience and network can help DarioHealth accelerate its penetration to market and get its product to millions of patients over the world."
Erez Raphael, Chairman and CEO of DarioHealth commented: "We are extremely honored and proud to be selected by the Philips-backed accelerator. We believe the industry is transforming from a device-driven industry to a personalized managed care, data and clinical outcome driven industry. It is encouraging that Philips' executives share the same vision. We are looking forward to collaborate with the accelerator team and find new ways to accelerate our growth."
The HighTechXL Accelerator is a three-month, corporate-backed program designed to accelerate startups to their next stage of development, including to help them gain broader customer traction and secure development partnerships. In addition, the program team facilitates the possibility for scaling companies to explore options including starting a pilot project with the corporations constituting the HighTechXL partner network, or integrating their product or service into the corporation's existing business line.
For the selection of its latest batch, the HighTechXL team invited 75 startups and scale-ups from 23 different countries. Selected companies were invited to participate in a joint three-day selection event by HighTechXL and Get in the Ring in collaboration with ABN AMRO bank, ASML, EY, NTS-Group, and Philips. 35 of the 75 companies were focused on the development of healthcare solutions and medical devices.
DarioHealth competed in a medical technology track, during which companies were given the opportunity to assess the fit of their business and technology propositions against Philip's current product lines with executives and innovation managers.
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 describes the potential benefits of the collaboration with HighTechXL, and when the Company describes its beliefs in industry trends, 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.
HighTechXL is an innovation hub which accelerates innovative solutions to market success. We help startup founders and corporations alike. With a main office at the High Tech Campus Eindhoven, HighTechXL runs effective acceleration and launchpad programs which support entrepreneurs and in-corporate ventures throughout all chapters of their entrepreneurial quest - from idea to prototype to scale-up. The comprehensive programs are backed by the leading high-tech, med tech and financial actors in the region: ABN AMRO, ASML, BOM, EY, NTS-Group and Philips, forging an open innovation ecosystem where the strengths of both the startup and corporate worlds complement each other to create new and sustainable business opportunities. HighTechXL is headquartered in Eindhoven, the Netherlands with offices in Shanghai, China and Boston, the U.S.
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SOURCE DarioHealth Corp. and HighTechXL