DUN'S 100 2016/17 - High-Tech & Technology Sector

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High-Tech & Technology
High-Tech & Technology - DUN’S 100 | 2016/17 52
High-Tech & Technology
DarioHealth Corp.
DarioHealth Corp. is a disruptive engage-
ment company in the Digital Health
field, specializing in the management
of chronic health conditions and linking be-
tween the fields of outpatient medical devices
and lifestyle activity trackers. The company is
traded on NASDAQ (DRIO) with a market cap of
about $22M.
Leading Reliability and Exceptional User
Experience
Dario’s flagship product is a diabetes manage-
ment system with an app and a smart, sleek
glucometer, which connects to any smartphone
and enables real-time documentation of sugar
levels, diet, taken insulin and physical activ-
ity. The users can watch, analyze, compare and
share the data with their friends, families and
medical staff. The usage is based on disposable
cartridges with 25 test strips each. The product
was tested on more than 1,000 patients, and
complies with ISO 2013, the strictest standard
for glucometers accuracy. It is approved by the
FDA, the CE, Canada Health and TGA. Its reliabil-
ity is further indicated by its full reimbursement
status in the UK, Canada and Australia.
Dario’s management system improves the lives
of people suffering from chronic medical condi-
tions and its connectivity enables HMO’s to con-
duct more massive monitoring and treatment.
The product supports the users’ life quality from
two parallel directions:
• By providing better compliance, personalized
monitoring and treatment and access to reliable,
continuous data for the patient and the medical
staff, which leads to better health quality, less
health volatility and hospitalization and appro-
priate medical treatment on time;
• By reducing the social and self-stigmatization
of the patients, and transforming the reference
to their condition from an “illness” to a “chronic
condition” which includes achievements, learn-
ing, sharing and companions. The engagement
of the users and their communities encourages
deeper, long-lasting lifestyle changes, improved
compliance, and better acceptance of the condi-
tion by the social environment.
Lean Organizational Structure
Dario has a lean, efficient, core competencies
and knowledge-focused organizational struc-
ture, with partnerships with various suppliers
that support fast growth and scalability, and
an emphasis on digital marketing. The lean
structure provides excellent response time,
seamless integration with new services/plat-
forms, and a low cost-structure, which enables
multi-layered cost-savings from end-consumer
to national health budgets, and supports the
profit margins. The firm’s core competencies in-
clude regulation, quality, R&D, and direct digital
marketing. The company employs senior Ameri-
can regulation experts, software engineers, and
digital marketing, content and user experience
professionals.
Multi-Layered Business Model
The company successfully leverages the increas-
ing consumer demand for higher digital aesthet-
ics in the everyday medical conduct, and the
evolving awareness of HMO’s of the potential of
using connectivity for better user experience and
improved medical results, in order to challenge
the legacy health models which are unable to
utilize to vast connectivity of the 21st century,
and disrupt them with alternatives that meet
the users’ requirements for a shareable, visually
attractive and user friendly experience and the
HMO’s requirements for accurate, continuous
and reliable data that can integrate with their
existing IT systems.
The company’s business model is disposables
(test strips) based. Simultaneously, consumers
and HMO’s are offered added value services.
The consumer services include paid added fea-
tures in the app and expert medical support
24/7. The HMO’s services include data mining
and early warning services for an efficient man-
agement of diabetic populations.
The efficient cost structure and business mod-
els enable the company to achieve very rapid
growth (more than 300% annually) along with
defensive characteristics such as operations in
the stable health sector and reliance on recur-
ring subscription revenues.
A Comprehensive Competitive Solution
Dario’s patented technology provides the user
with a unified, fun experience and immediate
data accessibility and backup. This compre-
hensive solution provides a variety of benefits
and features which are not possible in compet-
ing offers. For example, diabetes management
apps suffer from data gaps due to the cumber-
some process of synchronizing the data into the
app. This leads to low-quality data, no compli-
ance improvement and an inability to provide
analyses such as volatility and GPS-based no-
tifications. On the other hand, Dario’s app is
independent from heavy in-house developed
software and hardware, and relies on the migrat-
ability of standard operating systems for a quick
and seamless integration with the IT system of
health and cloud suppliers.
The app was designed as to enable Big Data
analysis, with an option of integrating popu-
lation management capabilities in-house or
through integration with existing suppliers.
The company is currently actively negotiating
with international telemedicine companies on
a potential partnership in this context.
Vision
Dario aims to be the market leader in chronic
and per-chronic conditions management apps,
with an emphasis on early prevention, and to
expand the portfolio to other areas, including
monitoring and treatment of blood pressure,
cholesterol and triglycerides.
Esta b l i s h e d
2011
L i n e o f B u s i n ess
Digital Health
9 Halamish St., Caesarea
Tel: 972-4 7704100
Zvi Ben-David
CFO
Erez Raphael
CEO & Chairman
l e a d i ng e x ecu t i v es
Dror Bacher VP R&D
Tracy Wilansky Head of Regulation & Quality Control