NetworkNewsBreaks – DarioHealth Corp. (NASDAQ: D
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Posted On: 01/27/2021 3:43:03 PM
NetworkNewsBreaks – DarioHealth Corp. (NASDAQ: DRIO) Signs Agreements to Acquire Leading Digital Musculoskeletal Company, Raise $70 Million Through Private Placement
DarioHealth (NASDAQ: DRIO), a pioneer in the global digital therapeutics market, announced that it has entered into a definitive agreement to acquire Upright Technologies Ltd., a digital musculoskeletal (“MSK”) company; the acquisition will be in the form of a stock transaction. The acquisition is designed to expand DarioHealth’s multi-condition platform into the $213 billion musculoskeletal market and create one of the most comprehensive digital health platforms. The move also brings together complementary companies with industry-leading consumer engagement and clinical outcomes. In addition, DRIO has entered into definitive agreements with a group of health-care institutional investors to raise $70 million through a private placement. That financing includes several leading health-care focused institutional investors such as Nantahala Capital Management LLC, Perceptive Advisors, Driehaus Capital Management, Farallon Capital Management, Pura Vida Investments, and others. “I am very pleased to be able to achieve this milestone and expect that MSK will be a meaningful growth driver for our company for years to come,” said Dario CEO Erez Raphael in the press release. “We are committed to delivering the industry’s most comprehensive, clinically proven solution for the management of chronic conditions, and the addition of Upright, which is an expansion of our core competency, represents a significant step toward that goal. With similar approaches to building highly engaging and clinically effective products and similar cultures, I anticipate a rapid and seamless integration.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
DarioHealth (NASDAQ: DRIO), a pioneer in the global digital therapeutics market, announced that it has entered into a definitive agreement to acquire Upright Technologies Ltd., a digital musculoskeletal (“MSK”) company; the acquisition will be in the form of a stock transaction. The acquisition is designed to expand DarioHealth’s multi-condition platform into the $213 billion musculoskeletal market and create one of the most comprehensive digital health platforms. The move also brings together complementary companies with industry-leading consumer engagement and clinical outcomes. In addition, DRIO has entered into definitive agreements with a group of health-care institutional investors to raise $70 million through a private placement. That financing includes several leading health-care focused institutional investors such as Nantahala Capital Management LLC, Perceptive Advisors, Driehaus Capital Management, Farallon Capital Management, Pura Vida Investments, and others. “I am very pleased to be able to achieve this milestone and expect that MSK will be a meaningful growth driver for our company for years to come,” said Dario CEO Erez Raphael in the press release. “We are committed to delivering the industry’s most comprehensive, clinically proven solution for the management of chronic conditions, and the addition of Upright, which is an expansion of our core competency, represents a significant step toward that goal. With similar approaches to building highly engaging and clinically effective products and similar cultures, I anticipate a rapid and seamless integration.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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