Benzinga | Nov 18, 2021 08:10AM EST

DarioHealth Reports Has Contracted With 2 New Employers To Provide Personalized Digital Therapeutic Starting In Q1'22, No Terms Disclosed

DarioHealth Corp. (NASDAQ:DRIO), a leader in the global digital therapeutics (DTx) market, announced today that it has contracted with two employers to provide its highly personalized digital therapeutic beginning in the first quarter of 2022.

The new clients include a national transportation employer contracted for diabetes, and a regional employer contract for behavioral health. The two new contracts bring Dario's total signed clients to date to 49 as interest in the employer market demand intensifies across the full suite of solutions.

Dario's multi-chronic digital therapeutic platform offers employers next-gen digital programs to address high-cost, high-priority chronic conditions in their populations, including diabetes, pre-diabetes, hypertension, weight management, musculoskeletal and behavioral health. Full integration into a single AI-driven behavior change engine creates a holistic, seamless member experience across a combination of innovative technologies, digital tools and expert human support informed by billions of data points collected over ten years of consumer engagement.

"Dario is continuing to realize the robust demand for its solutions as opportunities developed over the last year convert into customers. These new contracts add to our growing list of customers and helps position Dario for a successful first quarter of 2022 with a significant increase in potential members," said Rick Anderson, President and General Manager North America.

DarioHealth also announced today the issuance of an inducement grant of stock options to Jerrod Helms, its newly appointed Chief Commercial Officer. The stock options were granted as an inducement material to Mr. Helms becoming an employee of the Company, in accordance with Nasdaq Listing Rule 5635(c)(4).

In conjunction with his appointment as CCO, Mr. Helms was granted a non-qualified stock option award to purchase 80,000 shares of the Company's common stock, as well as an additional non-qualified performance-based stock option award to purchase an additional 60,000 shares of the Company's common stock, pursuant to Nasdaq Listing Rule 5635(c)(4) outside of the Company's existing equity compensation plans in connection with Mr. Helms's employment by the Company as its CCO.

The options have an exercise price per share equal to $16.70, which was the closing price of the Company's common stock on the Nasdaq Stock Market on November 15, 2021. The time-based option vests over a three year period and is subject to a one year cliff beginning on November 15, 2022, subject to Mr. Helms' continued employment by the Company on the applicable vesting date. The performance-based option vests in twelve equal quarterly installments over a three year period commencing on the first day of the relevant following fiscal year, upon the Company's attainment for each fiscal year ending December 31, 2022 through December 31, 2024, of specified revenues recognized by the Company, subject in each case to Mr. Helms' continued employment by the Company on the applicable vesting date.