DarioHealth contracts with National Health Plan to provide behavioral health services to millions of members

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The shares of DarioHealth Corp. traded up 17% after the company said it struck a deal with an anonymous national healthcare provider to make its behavioral health products available to millions of plan members.

Global digital health solutions company DarioHealth Corp. (DRIO: NASDAQ), which focuses on delivering digital therapies (DTx) designed to integrate life and behavioral sciences with software technology to deliver engaging therapeutic interventions, today announcement “It has entered into an agreement with one of the largest US national health plans (Plan) to offer its self-insured employer customers the Dario digital behavioral health solution as part of its behavioral health offering.”

The firm said the new contract will allow it to integrate its products and services with those of the health plan, providing access to millions of plan members.

DarioHealth has indicated that it expects the first of the new plan members to be uploaded to the platform during Q4 / 21. The company expects it to grow further and add additional users throughout the fiscal year / 22. The company said it will collect a monthly fee for members with access to the platform.

The company noted that improving access to mental health care remains a very high priority for individuals, employers, insurance companies and healthcare providers. The technology that enables and improves accessibility to care is a key element in increasing the networks of traditional providers.

The company mentioned that “Plan chose Dario’s digital behavioral health solution to help improve access by using the Dario behavioral health platform as a central digital engagement point to connect members to Dario tools,” to the coaching and comprehensive suite of Behavioral Health Plan resources ”.

Dario said in uses AI-based screening and triage capabilities to enhance the experience for plan members and create a unique set of care options tailored to their own specific needs.

Rick Anderson, President and CEO of North America at DarioHealth, commented, “Mental health care is complex and fraught with barriers to care. We are delighted to partner with The Plan to help address these issues and support their vision for a more accessible system and effective care that delivers better outcomes for their clients… This is a historic agreement for Dario who has the potential to generate millions of dollars in annual income. opportunities with this client. “

DarioHealth Corp. is a global digital therapy company headquartered in New York, NY. weight management. The company said it has created a next-generation AI-powered digital health solutions platform that “harnesses the power of evidence-based behavioral science to improve health” and helps individuals make change meaningful and lasting.

DarioHealth started the day with a market cap of approximately $ 222.5 million with approximately 16.5 million shares outstanding and an overdraft interest of approximately 5.4%. DRIO shares opened more than 11% higher today at $ 15.047 (+ $ 1.567, + 11.62%) from yesterday’s closing price of $ 13.48. The stock traded today between $ 14.67 and $ 16.54 per share and is currently trading at $ 15.85 (+ $ 2.37, + 17.58%).

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