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.”
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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
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