The mobile app accompanies DarioHealth’s blood glucose monitoring system, which connects via a headphone jack to turn a mobile device into a glucose monitor, according to the company.
“We are very excited to have reached this release date for the Dario app on certain Android devices. With this launch, the Dario app now accessible to many more SMD users in the U.S. This continues DarioHealth’s U.S. market progress, and opens the door for potential wide-scale expansion in this pivotal market,” chairman & CEO Erez Raphael said in prepared remarks. “The Dario BGMS is an affordable device that simplifies diabetes management for people with diabetes via their smartphone. With the Android availability, we believe we are poised to continue our sequential quarterly growth and hope to make 2017 a record-breaking year.”
“Our products have undergone rigorous testing to ensure they meet the highest standards,” COO Dror Bacher added. “I believe Android users in the U.S. will be very pleased with our product offering, which is fairly priced and on par with many insurance co-pay plans.”
The company’s system also includes a lancing device and test strips together with the meter to help diabetes patients monitor their blood glucose throughout the day. There is no carrying case or batteries, DarioHealth said, and users can access real-time and historical blood glucose data to watch out for trends.
In August, the company said that it closed a $5 million private placement with new and existing investors for shares of DarioHealth’s common stock and shares of the company’s Series B convertible preferred stock.
The Israel-based company said current shareholders accounted for 58% of the securities sold in the offering.
DarioHealth issued 483,333 shares of common stock at $1.80 apiece and 2.3 million shares of Series B convertible preferred stock at the same price. The Series B preferred stock is covertible into shares of common stock at a 1:1 ratio and provides for a 6% dividend payable upon conversion of the preferred shares, the company said.