Dario Expands Membership Offering to a New Channel where Retailers are Visited by Millions of Consumers Each Year
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.
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SOURCE DarioHealth Corp.