DarioHealth (NSDQ:DRIO) said today that it inked a strategic collaboration with Philips (NYSE:PHG)-backed accelerator, HighTechXL.
The Netherlands-based program chose DarioHealth “because of its strong management team, innovative business model and smart solutions for diabetes management,” the company said.
The three-month program is designed to accelerate startups into the next stage of development. Collaborating with HighTechXL could help DarioHealth find and secure development partnerships and gain broader customer traction, according to the company.
“We were impressed by DarioHealth’s solution and by the execution capabilities of the company,” HighTechXL managing director Guus Frericks said in prepared remarks. “The company managed to create and enroll a very user-centric solution that is truly data-driven and personalized. We believe HighTechXL’s team experience and network can help DarioHealth accelerate its penetration to market and get its product to millions of patients over the world.”
DarioHealth develops cloud-based diabetes management solutions, like its blood glucose monitoring system that shares real-time data with healthcare workers.
“We are extremely honored and proud to be selected by the Philips-backed accelerator,” chairman & CEO Erez Raphael added. “We believe the industry is transforming from a device-driven industry to a personalized managed care, data and clinical outcome driven industry. It is encouraging that Philips’ executives share the same vision. We are looking forward to collaborate with the accelerator team and find new ways to accelerate our growth.”
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