Digital Health Product Leader, Eitan Shay, Joins Dario as Chief Product Officer

News provided by

Apr 04, 2023, 08:00 ET

Dario also appoints digital veteran, Arnaud Robert, to the role of Strategic Advisor to the Chief Executive Officer

The appointments strengthen Dario's ability to scale its digital therapeutics platform to meet growing market demand

NEW YORK, April 4, 2023 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) (the "Company" or "Dario"), a leader in the global digital therapeutics (DTx) market, announced today that digital health veteran, Eitan Shay, is joining the Company in the newly created position of Chief Product Officer. Mr. Shay previously held product leadership roles at digital health companies Livongo and Teladoc Health as well as senior leadership roles at Meta Platforms.

Dario also announced today that digital and business transformation leader, Arnaud Robert, has joined as Strategic Advisor to Erez Raphael, Dario's Chief Executive Officer. Mr. Robert most recently served as Executive Vice President and Chief Digital Officer at Sanofi and previously worked at Viking Cruise Lines, Nike, Disney, and Microsoft.

"Demand for our solution continues to accelerate among payers and employers, and the ability to enhance and scale our intelligent platform is central to our growth strategy," stated Erez Raphael, Chief Executive Officer of Dario. "I could not be more excited to welcome Eitan to the Dario team, as his unique background offers a combination of experience in high-growth commercial product environments along with a deep understanding of consumer engagement. Continuous innovation focused on engagement will be key to our long-term success, and I believe Eitan is the ideal candidate to take on this important role."

"I am also very pleased that Arnaud Robert will join Dario as a strategic advisor. His unique perspective and experience, having led digital strategy and innovation at many flagship companies, including Sanofi, Nike, and Disney, will serve us well and ensure that we remain at the forefront of the digital and data-driven transformation of healthcare."

"Having worked in digital health for the past several years, I am impressed with both the pace and success of Dario's transformation to become a leading multi-chronic condition platform that provides a seamless and highly engaging user experience," stated Mr. Shay. "Consumer engagement through technology continues to transform the delivery of healthcare. I believe Dario is very well positioned to be a leader in the space, and I look forward to contributing to our future success."

In addition, Dario announced that on April 3, 2023, Mr. Shay was granted a non-qualified stock option award to purchase 100,000 shares of the Company's common stock, as well as an additional non-qualified performance-based stock option award to purchase an additional 80,000 shares of the Company's common stock. These options are being issued pursuant to Nasdaq Listing Rule 5635(c)(4) and are outside of the Company's existing equity compensation plans. These options were granted as an inducement material to Mr. Shay becoming an employee of the Company, in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price per share equal to $3.93, which was the closing price of the Company's common stock on the Nasdaq Capital Market on April 3, 2023. The time-based option vests over a three-year period and is subject to a one-year cliff beginning on April 3, 2023, subject to Mr. Shay's continued employment by the Company on the applicable vesting dates. The performance-based option vests upon achieving personal objectives that will be set within 60 days from the grant date, subject to Mr. Shay's continued employment by the Company on the applicable vesting dates.

About DarioHealth Corp.

DarioHealth Corp. (Nasdaq: DRIO) is a leading digital therapeutics (DTx) company, revolutionizing how people with chronic conditions manage their health through a user-centric, multi-chronic condition platform. Our 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.

Our user-centric platform offers people continuous and customized care for their 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 payers, self-insured employers, providers of care and consumers. To learn more about Dario and its digital health solutions, or for more information, visit https://dariohealth.com.

Cautionary Note Regarding Forward-Looking Statements

This news release and the statements of representatives and partners of DarioHealth Corp. related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses that the appointments of Messrs. Shay and Robert strengthen Dario's ability to scale its digital therapeutics platform to meet growing market demand. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company's commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

DarioHealth Corporate Contact :
Mary Mooney
VP Marketing
[email protected]
+1-312-593-4280

Media Contact:
Scott Stachowiak
[email protected]
+1-646-942-5630

Logo: https://mma.prnewswire.com/media/1920436/DarioHealth_Logo.jpg

SOURCE DarioHealth Corp.