LabStyle Innovations' Dario Diabetes Management Solution Now Reimbursed Through a Majority of Medical Plans in Canada
Insurance claims for the Dario Test Strips to be reimbursed in Canada
Jul 14, 2015
CAESAREA, Israel, July 14, 2015 /PRNewswire/ -- LabStyle Innovations Corp. (DRIO), today announced the Dario™ Diabetes Management Solution's Smart Meter test strips are now reimbursed in Canada by most private insurance plans after the Dario™ was launched in Canada through major pharmacies including London Drugs and online at www.mydario.ca.
"Within a week of launching Dario in Canada over 75% of Canadian medical plans are now covering Dario™ test strips with reimbursement and we expect the balance to come on board over the coming weeks. Reimbursement of the recurring expense of test strips will make it even easier for Canadians to adopt Dario™, which we believe significantly enhances quality of life for people living and thriving with diabetes," stated Erez Raphael, President and CEO of LabStyle Innovations.
The compact all-in-one system that helps people with diabetes monitor blood sugar levels and proactively manages their diabetes using their smartphone or tablet is distributed in Canada by Auto Control Medical. Dario™ connects via a headphone jack to turn a mobile device into a glucose monitor, and incorporates a lancing device and test strips together with the meter in an all-in-one easy to carry device to take blood glucose measurements on the spot. Unlike conventional glucose monitors, there is no carrying case or batteries to replace, and the system works on both Apple and Android devices. Dario™ provides the diabetes patient's real-time and historical blood glucose data to spot patterns, recommend treatments and support behavior changes. Its web interface also makes it easy to share health information with healthcare providers and loved ones.
About LabStyle Innovations
LabStyle Innovations Corp. (OTCQB: DRIO) develops and commercializes patented technology providing consumers with laboratory-testing capabilities using smart mobile devices. LabStyle's flagship product is the Dario™ Diabetes Management Solution. Dario™ empowers people with diabetes to take charge of their health with the right tools, insights, and support in their pocket. With access to both real-time and historical blood glucose data, Dario™ is designed to spot patterns, recommend the right treatments and support behavior change efforts.
Dario™ is a platform that combines an all-in-one, blood glucose meter, smart phone application (iOS & Android), website application and treatment tools to support more proactive and better informed decisions by patients, doctors and healthcare systems. The stylish and compact self-monitoring system combines a lancet to obtain a blood sample, a proprietary disposable test strip cartridge and a smartphone-driven glucose meter. LabStyle Innovations is led by an experienced management team with vast software, medical device and technology experience and is guided by a world class board of directors and scientific advisory board. For more information: www.myDario.com and http://myDario.investorroom.com.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of LabStyle Innovations Corp. (the "Company") related thereto contains 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, we are using forward-looking statements when we discuss our expectation that the balance of Canadian medial plans will come on board over the coming weeks and cover Dario test stripes with reimbursement, or that reimbursement of the recurring expense of test strips will make it easier for Canadians to adopt Dario, or our belief that Dario, significantly enhances quality of life for people living and thriving with diabetes. 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™ as described herein) 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.
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SOURCE LabStyle Innovations Corp.