Digital Chronic Condition Management Company DarioHealth announced that it has been concluded a strategic commercial agreement with Greenkey Health, a company focused on obstructive sleep apnea.
The Alliance combines Dario’s cardiometabolic and behavioral artificial intelligence-driven health offers with the Greenkey method for managing obstructive sleep apnea.
The GreenKey4Life platform of Greenkey is a corresponding app that focuses on preventive care, connecting users with specialist providers for telehealth, diagnostic services and external symptom monitoring for sleep disorders and related comorbidities such as hyperonale disease.
Greenkey marks his portable device, Zummera, as an alternative to continuous positive respiratory pressure for people with positional obstructive sleep apnea.
In a statement, the companies said that they want to increase consciousness and secure payment contracts through a multi-channel marketing plan with commercial, administrative services, Medicaid, Medicare Advantage plans, self-financed employers, consultants, brokers and value-based care providers.
Initially, the emphasis will be on attracting large payers as important employees, while at the same time building a national network of aligned service providers.
The layered program is intended to improve the results of members through improved sleeping health, improved GLP-1 use and productive comorbidity management.
“We believe that this agreement marks a crucial step forward in reforming how chronic conditions such as sleep apnea and cardiometabolic disorders are being tackled,” said Steven Nelson, Chief Commercial Officer for DarioHealth, in a statement.
“By combining our real-time engagement and the data-driven platform with the powerful OSA cost-saving engine of Greenkey, we offer payers a differentiated, value-based care solution that not only improves the health results, but significantly reduces the total healthcare costs.”
The larger trend
In May, DarioHealth concluded a debt financing facility for maximum $ 50 million by Callodine Group and Rand Capital.
The financing has restructured the earlier credit facility of the company and was used to promote its B2B2C strategy among pharmaceutical partners, self-assured employers and payers’ organizations.
DarioHealth reported in March Turnover of $ 27 million, an increase of 32.9% of $ 20.4 million in 2023, mainly as a result of the consolidation of Twill’s turnover and increased income from its commercial channels. DarioHealth acquired Twill in February.
The recurring income of the company, employers and health plans, rose by 300% to $ 20 million, compared to $ 5 million in 2023.
The total turnover for the fourth quarter was $ 7.6 million, an increase of 110% compared to $ 3.6 million in Q4 2023. DarioHealth stated that growth was driven by the consolidation of Twill income and increased income from its B2B2C channels.
The company reported a gross profit of $ 4.2 million in the fourth quarter, compared to $ 132,000 for the same period in the previous year, which represents an increase of 3,080%.
In January, DarioHealth closed a $ 25.6 million private placement of convertible preference shares, with most funds from existing shareholders being protected.
The balance of the funds was provided by a network of accredited investors in health care and managers from the health care sector.
The offer is expected to expand the runway of Dario and strengthen its financial position, so that it can continue to implement its current strategic plan.
The company said that by the end of 2025 the plan has reached an operational cash-flow-positive run rate, while also building high margin, scalable recurring income for both B2B and pharmaceutical channels.
In 2024, sleep specialist DBA 2Z Medical, a subsidiary of Greenkey Health, announced that ZZOMA would be covered by large health insurers, including Aetna, Cigna, UnitedHealthcare and various Bluecross Blueshield programs nationwide.
Other companies in the sleep apnea space include Samsung, which announced a joint research initiative with Stanford Medicine in April to improve the detection function of sleep apnea of Galaxy Watch and to create new AI-compatible innovations for proactive care.
The sleep apnea -detection function, which has been received FDA again authorization Last year, Samsung’s Health Monitor app uses signs from moderate to severe obstructive sleep apnea in adults of 22 years and older.
In 2024, Apple received FDA approval for the sleep apnea function In his watch series 10 and freely available Hearing Estate Software embedded in his AirPods Pro headphones.
The Watch Series 10 sleep apnea function measures or a user has moderate to severe sleep apnea based on a new metric called respiratory disorders.
The device uses software -algorithms and a gear meter to analyze signals collected over multiple sleep sessions, which determines whether the carrier is at risk for sleep apnea.
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