NEW YORK, Nov. 25, 2019 /PRNewswire/ -- Global digital
therapeutics innovation leader, DarioHealth
Corp. (NASDAQ: DRIO) ("DarioHealth" or "Dario"), announced
today that its online membership offering will now be available for
purchase in physical retail stores. The "Membership-in-a-Box" (MIB)
package was designed to reach consumers with chronic conditions
such as diabetes who shop at retail stores. This concept, started
in partnership with Best Buy Online in the U.S., is now planned to
expand to other retail chains. Prior to this expansion, retail
stores only sold the Dario blood glucose meters, strips and other
supplies. This is another move by Dario with the goal and potential
to generate recurring revenues consistent with its high-margin,
software as a service (SAAS) based model.
Dario's innovative MIB marketing initiative has created a
potentially mutually attractive revenue opportunity for Dario and
retail chains. For a fixed price, the buyer leaves the store with
all they need to get started on their Dario journey for better
health: a Dario blood glucose meter, test strips and lancets. Once
the user connects their meter to their smart device and activates
the membership, they gain access to the entire gamut of services
offered through the membership just purchased. The member is
immediately greeted with the comprehensive Dario onboarding
process. After starting, this consumer will receive unlimited test
strips and supplies based on their personal consumption recorded
via their meter. They will also have access to a personal coach for
education, support, motivation which have been clinically proven to
produce better outcomes for healthier living.
MIB plans are currently available for three-month periods
through Best Buy Online. Once the initial period finishes, members
have the option to renew the service through Dario. Currently, 75%
of Dario memberships sold via our application, are renewed, a rate
significantly higher than similar offerings from other membership
programs in the digital therapeutics market. The existing Dario
membership offering will continue to be available.
"We believe that Dario's membership has great success because it
offers simplicity, continuity and peace of mind to users for a low
price. All Dario memberships include an unlimited, automated supply
of test strips and the premium memberships include unlimited access
to a personal Dario coach," said Olivier
Jarry, President and CCO, DarioHealth. "By selling our
membership in physical stores, we hope to increase Dario's reach to
the millions of consumers who visit Best Buy each year while
potentially increasing our recurring revenue streams."
About DarioHealth Corp.
DarioHealth Corp. (Nasdaq: DRIO) is a leading,
global digital therapeutics company revolutionizing the way
people with chronic conditions manage their health. By delivering
evidence-based interventions that are driven by data, high-quality
software and coaching, we empower individuals to make healthy
adjustments to their daily lifestyle choices to improve their
overall health. Our cross-functional team operates at the
intersection of life sciences, behavioral science and software
technology to deliver highly engaging therapeutic interventions.
Dario is one of the highest-rated diabetes solutions in the market,
and its user-centric MyDario™ mobile app is loved by tens of
thousands of consumers around the globe. DarioHealth is rapidly
moving into new chronic conditions and geographic markets, using a
performance-based approach to improve the health of users managing
chronic disease. To learn more about DarioHealth and its digital
health solutions, please go
to: http://mydario.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 discusses
its plan to expand its MIB to other retail chains, that the MIB
offering by the Company has the potential to generate recurring
revenues consistent with its high-margin, software as a service
(SAAS) based model, that its innovative MIB marketing initiative
has created a potentially mutually attractive revenue opportunity
for the Company and retail chains, the belief that the Company's
membership has great success because it offers simplicity,
continuity and peace of mind to users for a low price and by
selling its membership in physical stores, it hopes to increase the
Company's reach to the millions of consumers who visit Best Buy
each year while potentially increasing its revenue streams, , 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 Contact:
Claudia
Levi
Content & Communications Manager
claudia@mydario.com
+1-347-767-4220
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SOURCE DarioHealth Corp.