DarioHealth Corp. (NASDAQ: DRIO) revealed today that it has bought Upright Technologies Ltd. DRIO has acquired the company in an all-stock transaction. After the acquisition, the MSK solution of Upright will be added to DRIO’s digital therapeutic platform, which signifies one of the most inclusive multi-chronic condition platforms in the market with nearly 150,000 users.
The addition of Upright is projected to further propel Dario's strategy in the multiple segments. It will extend its approach into the MSK market, costing $213 billion annually to payors and employers. It will add the interactive therapeutics platform to a scientifically tested, highly engaging chronic disease solution that has high concurrent with the current conditions of Dario.
Furthermore, this acquisition will also deliver substantially increased revenue and organizational growth opportunities by exploiting the existing Business-to-Business (B2B) business organization from Dario. This is the greatest milestone achievement of the company as it is believed that MSK solution will be an important catalyst for the growth of DarioHealth.
DarioHealth Corp. (NASDAQ: DRIO) shares plummeted -0.81% during the pre-market trading session of Wednesday. In the past 52-weeks of trading, this company’s share has changed between the 52-weeks low range of $3.02 and a high range of $23.95. Its share has moved up 677.81% during the 52-weeks low and moved down -1.92% during the past 52-weeks high. DRIO has a total market capitalization of $185.75 million at the time of writing.
MSK's solution of Upright is the top priority for medical enhancement and cost-cutting for self-insured businesses and health plans. Consolidating Upright's solution to its platform will significantly increase its opportunity to meet the needs of a broader spectrum of its clients.