BOSTON, July 28, 2016 /PRNewswire/ --
DarioHealth Corp. (NASDAQ:DRIO), a leader in digital health and mobile health solutions and the developer of the Dario(TM) Smart Diabetes Management Solution, today announced that it has begun offering the Dario Smart Diabetes Management Solution direct to the consumer in Australia, via its Australian sponsor IBD Consulting. The company is offering consumers the ability to purchase the Dario All in One meter directly online at the website: http://mydario.net.au. By purchasing the device and strips, and downloading the free App on either the Google Play store or Apple store, the consumer will have access to an unprecedented level of control directly from their smartphone in managing their diabetes in a more proactive way.
The move to direct sales in Australia is an outcome of the Company's fast response to the ongoing changes in the Australian diabetes space. These changes impact both the pharmacies from a distribution standpoint and also the consumer when it comes to access to subsidized test strips for people with type 2 diabetes who do not use insulin. As a result, the Company has been prompted to work on a more direct approach. This strategy will allow DarioHealth to benefit immediately from higher margins on all product offerings, while at the same time providing broader reach to the consumer for its devices, strips and additional consumables. As ongoing changes occur in the Australian diabetes landscape, DarioHealth is positioning itself to become a major contender, with a robust digital strategy backed up with a wide distribution network.
On the digital side, DarioHealth is deploying the knowledge and success strategies that it has developed from the U.S. market, and is utilizing its expanding digital team to increase sales in Australia. The digital strategy will not only tap into the consumer marketplace, but will also target the very active Diabetes Educators space, and will benefit the physical pharmacy channel the Company is engaged in. The Company has been building out its physical distribution, so as to provide the diabetes consumer with strip availability at the majority of pharmacies across Australia. Today Dario strips can be ordered via any pharmacy in Australia as supply arrangements are in place with all major wholesalers including Symbion, API and Sigma. The Company is also working towards expanding with banner groups in Australia to be able to offer consumers the device, in-service training and other additional offerings.
Dario's test strips are subsidized via the Australian NDSS scheme, but as these changes start to impact the consumer's wallet, the Company believes that the sooner patients start using Dario, with some of its unique features such as an Insulin Calculator, estimated HbA1c, integration into sports and exercise Apps, access to an Australian food database of over 500,000 foods and meal plans to assist in carb counting, and Hypo and Hyper alerts sent directly to family members and emergency services, consumers will be able to take back control with a more informed and healthier lifestyle.
About DarioHealth Corp.
DarioHealth is a leader in digital health self-management solutions. DarioHealth delivers the ability to combine and analyze consumer health data to personalize treatment and advance medical knowledge. The Dario™ Smart Diabetes Management Solution is a platform for diabetes management that combines the Dario Blood Glucose Monitoring System all-in-one blood glucose meter, native smart phone app, website portal and a wide variety of treatment tools to support more proactive and better informed decisions by users living with diabetes, their doctors and healthcare systems. Having recently launched in the largest market in the world for glucose monitoring, U.S. sales are expected to have a significant impact on revenues and gross margins. With marketing clearance in Europe and the U.S., the Dario iOS mobile app recently launched with reimbursement in the United Kingdom, Australia, Israel, Italy, and Canada, and has also launched in New Zealand, Netherlands, Italy, and Belgium. For more information, visit http://mydario.investorroom.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 describes its growth potential, describes the expected benefits of direct to consumer sales in Australia, and says that U.S. sales are expected to have a significant impact on the Company's revenues and gross margins, 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.
DarioHealth Corporate and Media Contact
DarioHealth Investor Relations Contact
Rob Fink / Brett Maas
+1-646-415-8972 / +1-646-536-7331
SOURCE DarioHealth Corp.