CAESAREA, Israel and NEW YORK, July 25, 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 by entering into a strategic agreement with New York-based Byram Healthcare (Byram).
As reported last month, DarioHealth expanded its 3rd party insurance coverage option for U.S. consumers who want their DarioHealth products reimbursed by insurance. The addition of Byram to the DarioHealth provider network will further accelerate market penetration in the insurance reimbursable market for DarioHealth's U.S. consumers.
In operation since 1968, Byram is a market-leading distributor of reimbursable medical supplies to home patients and home health agencies in the United States. Byram has strong positions in its principal product lines of ostomy, wound care, urology, diabetes, and incontinence supplies, which are sold nationwide. Byram has built a portfolio of over 600 payor contracts covering more than 200 million lives, along with a dedicated revenue cycle management infrastructure to support claims filing and collection processes. With more than 900 teammates, Byram has national reach in the direct-to-patient market in the U.S., which it serves with an experienced management team and a sizable customer-facing sales and service team.
Perry Bernocchi, CEO of Byram Healthcare, commented, "We are excited about this new partnership with DarioHealth and look forward to strong mutual growth as a result of this expanded access."
Erez Raphael, Chairman and CEO of DarioHealth, commented, "DarioHealth initiated the provider network approach earlier in the year and it has been met with much success. By partnering with only the most reputable 3rd party providers, our team is fully committed to help consumers take control of their self-diabetes management."
With the addition of Byram Healthcare, DarioHealth expects to cover 30% of consumers in the U.S. diabetes market. In just a few months since launching the insurance health coverage initiative, DarioHealth has received tremendous feedback, and covered major insurance plans, such as Aetna, United HealthCare, and various Blue Cross Blue Shield programs.
About Byram Healthcare
Byram has been a national leader in disposable medical supply delivery since 1968. Byram provides quality supplies, services and support, specializing in diabetes supplies, ostomy supplies, wound care supplies, Urology supplies, incontinence supplies and enteral nutrition products. In 2008 Byram was acquired by Mediq, an international retail and distribution company, as their platform for expansion into the United States marketplace. Byram Healthcare, a Mediq Direct Company, is more prepared than ever to tackle the challenging, changing healthcare landscape. Byram Healthcare is here to deliver the products, services, and support needed to maximize clinical outcomes and manage complicated benefits. For more information about Byram, their mission or the products and services they offer, visit https://www.byramhealthcare.com.
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, Israelwith 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 the addition of Byram will further accelerate market penetration, and that it expects to cover 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.
Byram Healthcare Corporate and Media Contact: Judy Manning, Vice President, Marketing, firstname.lastname@example.org, 1- 914-286-2179
DarioHealth Corporate and Media Contact: Shmuel Herschberg, Marketing Director, email@example.com, 1-914-775-5548
DarioHealth Investor Relations Contact: Hayden IR, Stephen Hart, DRIO@HaydenIR.com, 1-646-415-8972