DarioHealth (NASDAQ: DRIO), a leader in the global digital health market, has acquired Twill Inc., a leader in digital-led care. According to the announcement, the acquisition will allow the company to “create one of the most comprehensive digital offerings in the market for chronic conditions, spanning a wide spectrum of health and well-being needs from emotional health to the costliest chronic conditions.” The company reported that the transaction creates immediate scale, with existing Twill customers including three of the top eight national health plans as well as several Fortune 100 employers and major pharmaceutical companies. The company projected that the acquisition will deliver several key results, including nearly doubling its pro forma revenues, accelerating market penetration and driving greater sales opportunities. In addition to the acquisition, the company also announced a $22.4 million private placement of convertible preferred stock, priced at the market under NASDAQ rules, with participation from investors from both companies. “The Twill acquisition is an incredible opportunity to bring together our complementary solutions and create an unrivaled platform for the next generation of consumer-centric digital health,” said DarioHealth CEO Erez Raphael in the press release.
“The addition of Twill instantly boosts revenue and margins, leveraging a robust SaaS-like model to fuel expected rapid growth and accelerating profitability. We are confident in our ability to integrate Twill and its employees and operations, as we have a track record of integrating previously acquired businesses. It’s rare to find not just alignment, but shared passion igniting a collaboration. That’s exactly what we’ve discovered in Twill. Their dedication to consumer empowerment through technology mirrors our own, making this union not just a strategic move but a powerful convergence of values and goals. This unwavering belief resonated with both companies’ shareholders, leading to shareholders from both companies participating in the financing. It’s an injection of not just capital, but confidence in the future we’re building together. With this strengthened foundation, we’re poised to aggressively pursue our growth plan, fueled by a shared vision and the passion of investors and executives alike.”
To view the full press release, visit https://ibn.fm/g9VLn
About DarioHealth Corp.
DarioHealth Corp. is a leading digital health company revolutionizing how people with chronic conditions manage their health through a user-centric, multichronic condition digital therapeutics platform. Dario’s platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain and behavioral health. The company’s user-centric platform offers people continuous and customized care for health, disrupting the traditional episodic approach to healthcare. This approach empowers people to holistically adapt their lifestyles for sustainable behavior change, driving exceptional user satisfaction, retention and results, and making the right thing to do the easy thing to do. Dario provides its highly user-rated solutions globally to health plans and other payors, self-insured employers and providers of care as well as directly to consumers. 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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