DarioHealth Corp Archives - Medical Design Sourcing

DarioHealth acquires digital health company Twill, prices $22.4M offering

DarioHealth (Nasdaq:DRIO) announced today that it acquired digital-led care leader Twill and priced a $22.4 million private placement.

New York-based DarioHealth says the acquisition enables it to create a comprehensive digital platform for chronic conditions. This offering would span a wide spectrum of health and wellbeing needs, from emotional health to chronic conditions. The company highlights the scale, with three major national health plans, multiple Fortune 100 employers and several major pharmaceutical companies as customers.

DarioHealth paid $10 million in cash and agreed to issue approximately 10 million shares of common stock in the acquisition. Those shares come in the form of pre-funded warrants for the benefits of Twill’s debt holders and equity holders. The warrants vest in four equal amounts at 270 days, 360 days, 540 days and 720 days after the deal closes.

According to a news release, DarioHealth expects the acquisition to nearly …

DarioHealth launches smart blood sugar meter for iPhone 15

DarioHealth (Nasdaq:DRIO) announced today that it launched a new smart blood sugar meter for Apple iPhone 15 users.

The launch of the new technology supports ongoing engagement with new and existing members for the digital health company.

DarioHealth said in a news release that the new iPhone 15’s USB-C charging port constitutes a key element for real-time data capture. Its new smart blood sugar meter offers users the same instant connectivity for real-time blood sugar readings, the company said.

Users receive that connectivity as part of their personalized DarioHealth management experience with a USB-C-compatible device.

“Dario is continuously innovating to stay ahead of trends and keep our members connected and on track with their goals. Our new iPhone 15 smart blood sugar meter is just another example of our ability to respond quickly to consumer needs and keep our members engaged over time,” said Rick Anderson, president of D…

2-year data backs DarioHealth digital diabetes platform

DarioHealth (Nasdaq:DRIO) today announced new research demonstrating sustainably improved outcomes with its digital diabetes platform.

New York-based DarioHealth designed its digital health solutions to combine a clinically intelligent platform with consumer insights. It helps to drive sustainable behavior change to improve the management of chronic conditions, including diabetes.

Get the full story at our sister site, Drug Delivery Business News.

Research highlights cost savings from DarioHealth digital diabetes therapeutic

DarioHealth (Nasdaq:DRIO) announced today that a new analysis demonstrated a significant cost reduction for users of its digital therapeutic platform.

Sanofi U.S. conducted the analysis, which showed lower costs of care for DarioHealth users compared to non-users with type 2 diabetes. The study used matched claims to show an estimated $5,077 in medical cost savings for the DarioHealth users.

Get the full story at our sister site, Drug Delivery Business News.

DarioHealth prices $14.3M offering

DarioHealth (Nasdaq:DRIO) announced today that it priced a private placement of convertible preferred stock at $14.3 million.

New York-based DarioHealth received significant participation in the pricing by select members of leadership, the board and existing investors. The company also refinanced its existing credit facility. As a result, the company reports a proforma cash balance as of the end of the first quarter at a total of $60 million.

According to a news release, the digital therapeutic developer believes these maneuvers extend its cash runway through late 2025. DarioHealth expects the private placement to close on or before today, May 3, 2023.

“These actions are very positive for Dario as they provide an additional year and a half of cash runway, based on our current operating plan, at terms that I believe are very favorable to our company,” said Erez Raphael, CEO of DarioHealth. “We are delighted that approximately half of the…

DarioHealth, Dexcom partner to integrate CGM into digital health platform

DarioHealth (Nasdaq:DRIO) announced today that it agreed with Dexcom (Nasdaq:DXCM) to integrate continuous glucose monitoring into its digital health platform.

Dexcom CGM uses small, wearable sensors to continuously measure and send glucose levels to a receiver or smart device. The company’s latest CGM technology, the Dexcom G7, recently received FDA clearance. The company plans to announce its U.S. launch in a commercial during the Super Bowl on Feb. 12.

The agreement between DarioHealth and Dexcom enables the integration of CGM data into DarioHealth’s chronic condition platform. This allows users of the wearable device to benefit from DarioHealth’s personalized digital therapeutic support.

Get the full story at our sister site, Drug Delivery Business News.

7 innovative digital health offerings to treat diabetes

MIT engineers are working on an app that that identifies and quantifies food content, which can aid in carbohydrate counting for people with diabetes. [Image from MIT News] From using your smartphone to track data to reversing your diabetes altogether, these digital health technologies stand out.

Advances in treatments for diabetes never stop coming. Whether that be in the form of insulin pumps or continuous glucose monitors, we’ve seen plenty.

Moving away from the physical device, innovations in the digital diabetes space continue to impress. Digital therapeutics, artificial intelligence- and cloud-based offerings and more comprise an intriguing list of technologies.

Here are seven digital offerings aimed at treating diabetes that you might want to keep an eye on:

1. Digital therapeutics for diabetes

Digital therapeutics is an ever-growing space capable of treating a range of diseases and conditions. That reach extends to diabetes, as shown by companies…

DarioHealth closes $50M loan facility with OrbiMed

DarioHealth (Nasdaq:DRIO) announced today that it closed a senior secured term loan facility worth up to $50 million.

OrbiMed, a leading healthcare investor, will provide non-dilutive capital to fund the continued development of New York-based DarioHealth’s digital health platform for managing chronic diseases, including diabetes.

Get the full story at our sister site, Drug Delivery Business News.

The biggest stories from the American Diabetes Association (ADA) 2022 Scientific Sessions

For the 82nd time, the American Diabetes Association (ADA) Scientific Sessions convened to highlight all the innovations within the diabetes technology space.

Major players like Dexcom, Medtronic, Abbott and more continue to plug along, while companies like Bigfoot Biomedical, One Drop and others shared data backing the technology that they bring to the table.

The data showcased at ADA supported the usual continuous glucose monitoring (CGM) and automated insulin delivery (AID) technology, plus different digital health platforms and diabetes reversal procedures.

BTIG analyst Marie Thibault wrote in a report that there was plenty of buzz on the ground at the event, particularly around Insulet’s Omnipod 5 AID system, Abbott’s recently FDA-cleared FreeStyle Libre 3 CGM and Bigfoot Biomedical’s Bigfoot Unity platform.

“In general, we believe that accuracy and clinical benefit is proven for all commercial CGM and AID offerings an…

Study backs DarioHealth’s digital therapeutics for managing diabetes

DarioHealth (Nasdaq:DRIO) announced today that multiple research studies support its digital therapeutics for diabetes management.

New York-based DarioHealth presented the data from the new studies at the American Diabetes Association’s (ADA) 82nd Scientific Sessions in New Orleans. Two of the studies add to DarioHealth’s evidence supporting an integrated approach to managing multiple chronic conditions, while the third analyzed the impact across ethnicities of users living with type 2 diabetes.

Get the full story at our sister site, Drug Delivery Business News.

DarioHealth rises on Street-beating Q1

DarioHealth (Nasdaq:DRIO) shares ticked up this morning on first-quarter results that beat the consensus forecast.

The (LOCATION)-based digital therapeutics company posted losses of $15.9 million, or 74¢ per share, on sales of $8.1 million for the three months ended March 31, 2022, for a bottom-line slide about $1 million deeper into the red despite more than doubling its sales from the first quarter of 2021.

DarioHealth’s losses per share of 74¢ came in 22¢ ahead of expectations on Wall Street, where analysts were looking for sales of $6.9 million.

“Our first quarter results reflect our increasingly successful transition to a B2B model with growing revenue and gross margins,” DarioHealth CEO Erez Raphael said in a news release. “In light of the demonstrable traction and increasing revenue in the B2B (commercial) market segment, we continued to rationalize marketing spend in the direct-to-consumer segment resulting in improved mar…

Digital therapeutics open up new opportunities in medicine

Pear Therapeutics designed the reSET prescription digital therapeutic for the treatment of substance abuse disorder. [Image courtesy of Pear Therapeutics]A wide range of companies are aiming to make waves through digital therapeutic offerings, and each is doing things differently.

“We are seeing tremendous momentum for the DTx industry, with more and more products coming to market and gaining commercial coverage and recent signals from the White House and Congress demonstrating their interest and recognition of DTx products as an important way to expand access to quality treatments for populations with public coverage, especially underserved communities,” Digital Therapeutics Alliance CEO Andy Molnar said via email. “While we are riding a massive swell, the wave hasn’t even begun to crest. The community is expanding and convening this broad coalition of stakeholders is critical to really scale the industry and drive DTx adoption and integration to truly transform healthc…