DarioHealth

DarioHealth is a global digital therapeutics company that provides personalized programs, evidence-based interventions, and one-on-one coaching support to help patients manage chronic conditions and improve their overall health. The company has four programs covering diabetes and weight management, behavioral health, hypertension, and musculoskeletal (MSK) issues. 

These programs are delivered through a single mobile app and accompanying FDA-approved proprietary medical devices including a blood glucose monitoring kit, a pocket-sized smartphone glucometer, and a blood pressure monitoring system. The app curates personalized plans using AI technology and billions of behavioral data points from its members. 

The company began operating in the D2C market with a subscription-based business model. The company offers a three-tiered membership plan depending on the services offered. It later entered the B2B2C market consisting of employers, healthcare providers, and health plans. The company had 100 B2B contracts in total as of May 2023. Further, DarioHealth was available in the US, Canada, the UK, Germany, Italy, Australia, the Netherlands, and New Zealand.

The company made several acquisitions, including; 1) acquired Upright Technologies to launch its digital physical therapy platform, Dario Move (January 2021), 2) acquired WayForward to expand its mental health foothold (May 2021), 3) acquired Physimax to bolster its MSK capabilities (January 2022), and 4) acquired Twill to integrate its behavioral health solution into DarioHealth's cardiometabolic platform (February 2024).

For FY2023, the company reported revenue of USD 20.4 million (down 26% YoY), while operating losses reduced by USD 0.6 million YoY to USD 56.2 million. 

Key customers and partnerships

The company has several key partnerships including; 1) Sanofi, to enter into a USD 30 million multi-year strategic collaboration to expand its market reach within the US (March 2022), 2) Dexcom to add continuous glucose monitoring to its platform (February 2023), and 3) Amwell Health to offer cardiometabolic solutions, starting in the 2H 2023 (March 2023). 

Further in October 2024, the company partnered with a national Medicare Advantage health plan to provide digital mental health benefits through its Twill by Dario platform. During the same month, it partnered with a regional health plan to provide cardiometabolic solutions for its Medicaid population.