DarioHealth (NASDAQ: DRIO), a pioneer in the global digital therapeutics market, announced that it has entered into a definitive agreement to acquire Upright Technologies Ltd., a digital musculoskeletal (“MSK”) company; the acquisition will be in the form of a stock transaction. The acquisition is designed to expand DarioHealth’s multi-condition platform into the $213 billion musculoskeletal market and create one of the most comprehensive digital health platforms. The move also brings together complementary companies with industry-leading consumer engagement and clinical outcomes. In addition, DRIO has entered into definitive agreements with a group of health-care institutional investors to raise $70 million through a private placement. That financing includes several leading health-care focused institutional investors such as Nantahala Capital Management LLC, Perceptive Advisors, Driehaus Capital Management, Farallon Capital Management, Pura Vida Investments, and others. “I am very pleased to be able to achieve this milestone and expect that MSK will be a meaningful growth driver for our company for years to come,” said Dario CEO Erez Raphael in the press release. “We are committed to delivering the industry’s most comprehensive, clinically proven solution for the management of chronic conditions, and the addition of Upright, which is an expansion of our core competency, represents a significant step toward that goal. With similar approaches to building highly engaging and clinically effective products and similar cultures, I anticipate a rapid and seamless integration.”
To view the full press release, visit https://ibn.fm/iKd3I
About DarioHealth Corp.
DarioHealth is a leading global, digital-therapeutics company revolutionizing how people with chronic conditions manage their health. By delivering evidence-based interventions driven by connected devices, data, high-quality software and coaching, the company makes the right thing to do the easy thing to do. The company’s cross-functional team operates at the intersection of life sciences, behavioral science and software technology. Dario offers one of the highest-rated diabetes and hypertension solutions on the market; its highly engaging, user-centric MyDario(TM) mobile app is used regularly by tens of thousands of consumers worldwide. The company is rapidly expanding into new chronic conditions and geographic markets, using a performance-based approach to improve its users’ health. For more information about the company, please visit www.DarioHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to DRIO are available in the company’s newsroom at http://ibn.fm/DRIO
About MissionIRNewsBreaks
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
Editor@MissionIR.com
Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html
