DarioHealth Announces Two New Employer Contracts
Dario now counts 49 clients across multi-chronic condition platform solutions to date as demand continues to grow
Nov 18, 2021
NEW YORK, Nov. 18, 2021 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO), a leader in the global digital therapeutics (DTx) market, announced today that it has contracted with two employers to provide its highly personalized digital therapeutic beginning in the first quarter of 2022.
The new clients include a national transportation employer contracted for diabetes, and a regional employer contract for behavioral health. The two new contracts bring Dario's total signed clients to date to 49 as interest in the employer market demand intensifies across the full suite of solutions.
Dario's multi-chronic digital therapeutic platform offers employers next-gen digital programs to address high-cost, high-priority chronic conditions in their populations, including diabetes, pre-diabetes, hypertension, weight management, musculoskeletal and behavioral health. Full integration into a single AI-driven behavior change engine creates a holistic, seamless member experience across a combination of innovative technologies, digital tools and expert human support informed by billions of data points collected over ten years of consumer engagement.
"Dario is continuing to realize the robust demand for its solutions as opportunities developed over the last year convert into customers. These new contracts add to our growing list of customers and helps position Dario for a successful first quarter of 2022 with a significant increase in potential members," said Rick Anderson, President and General Manager North America.
DarioHealth also announced today the issuance of an inducement grant of stock options to Jerrod Helms, its newly appointed Chief Commercial Officer. The stock options were granted as an inducement material to Mr. Helms becoming an employee of the Company, in accordance with Nasdaq Listing Rule 5635(c)(4).
In conjunction with his appointment as CCO, Mr. Helms was granted a non-qualified stock option award to purchase 80,000 shares of the Company's common stock, as well as an additional non-qualified performance-based stock option award to purchase an additional 60,000 shares of the Company's common stock, pursuant to Nasdaq Listing Rule 5635(c)(4) outside of the Company's existing equity compensation plans in connection with Mr. Helms's employment by the Company as its CCO.
The options have an exercise price per share equal to $16.70, which was the closing price of the Company's common stock on the Nasdaq Stock Market on November 15, 2021. The time-based option vests over a three year period and is subject to a one year cliff beginning on November 15, 2022, subject to Mr. Helms' continued employment by the Company on the applicable vesting date. The performance-based option vests in twelve equal quarterly installments over a three year period commencing on the first day of the relevant following fiscal year, upon the Company's attainment for each fiscal year ending December 31, 2022 through December 31, 2024, of specified revenues recognized by the Company, subject in each case to Mr. Helms' continued employment by the Company on the applicable vesting date.
About DarioHealth Corp.
DarioHealth Corp. (Nasdaq: DRIO) is a leading global digital therapeutics company revolutionizing how people with chronic conditions manage their health. DarioHealth offers one of the most comprehensive digital therapeutics solutions on the market - covering multiple chronic conditions including diabetes, hypertension, weight management, musculoskeletal and behavioral health within one integrated technology platform.
Dario's next-generation, AI-powered, digital therapeutic platform supports more than just an individual's disease. Dario provides adaptive, personalized experiences that drive behavior change through evidence-based interventions, intuitive, clinically proven digital tools, high-quality software, and coaching to help individuals improve health and sustain meaningful outcomes.
Dario's unique user-centric approach to product design and engagement creates an unparalleled experience that is highly rated by users and delivers sustainable results.
The company's cross-functional team operates at the intersection of life sciences, behavioral science, and software technology and utilizes a performance-based approach to improve its users' health.
On the path to better health, Dario makes the right thing to do the easy thing to do. To learn more about DarioHealth and its digital health solutions, or for more information, visit http://dariohealth.com.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of DarioHealth Corp. 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. For example, the Company is using forward-looking statements in this press release when it discusses the expected timing of the new clients providing the Dario platform to its users, that these new contracts helps position it for a successful first quarter of 2022 with a significant increase in potential members and the benefits that may be realized by the Dario solution. 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. 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 DarioHealth Corp.