LabStyle Innovations Signs InnoMed to Exclusively Distribute the Dario™ Diabetes Management Platform's Blood Glucose Monitoring Device in New Zealand
RAMAT GAN, Israel, November 19, 2013 /PRNewswire/ --
Coming soon to New Zealand - the Dario iOS app on December 12, 2013; the Dario Android app and the Dario blood glucose monitoring device during first quarter of 2014
LabStyle Innovations Corp. (OTCQB:DRIO), developer of Dario™, a cloud-based, mobile health (mHealth) platform for diabetes and related blood glucose monitoring, announced today that it has entered into an exclusive agreement with InnoMed Ltd. to distribute the Dario™ diabetes management platform's blood glucose monitoring device in New Zealand. The terms of the agreement were not disclosed.
"We are delighted to partner with InnoMed. Their many decades of industry experience, as well as their vision and sincere interest to positively impact the health and well-being of people by introducing modern medical technology, are a perfect fit with our immediate and long-term goals. We are very excited that New Zealand, well-known for its interest in innovation and early adoption of new technologies, will be among the first countries worldwide to experience the new Dario™ iOS app beginning on December 12th and the Dario™ blood glucose monitoring device, later during the first quarter of 2014," said LabStyle Innovations President and chief executive officer Mr. Erez Raphael.
The stylish, 'all-in-one', pocket-sized, Dario™ blood glucose monitoring device, which comes complete with lancet, strips and a glucose meter, will be available for purchase through InnoMed. The glucose meter connects to a smartphone and the feature rich Dario™ mobile and website applications enabling patients, medical professionals and caregivers to access data in real time. Using the Dario™ iOS mobile app, customers will be able to easily and instantly check blood sugar levels using their smartphone and gain useful insights and views regarding the management of their condition.
According to the NZSSD website, the Ministry of Health of New Zealand estimates that more than 200,000 people are affected with diabetes in New Zealand. The country also has one of the highest rates of pediatric diabetes worldwide accordingly to Diabetes New Zealand. And, as reported by the New Zealand press, by 2021, health costs related to diabetes are predicted to balloon to more than $1 billion a year.
LabStyle was granted a CE mark for the full Dario™ diabetes management platform in September 2013, which allows LabStyle to market Dario™ in Europe. LabStyle believes Dario™ is the only end-to-end mobile health platform that offers and encourages people living with diabetes a new way to understand and control their condition.
"The Dario™ diabetes management platform fills a clearly unmet need in the diabetes market by enabling those with diabetes to manage their daily lives, and the multiple management decisions that go with it each day, in a social, fun but also well-informed and responsible way. We believe the particular features of Dario™ create the potential for increased patient compliance in monitoring and managing their condition. We are pleased to be part of the Dario™ initiative and look forward to introducing our fellow New Zealanders first to the free iOS app on December 12th and later during first quarter 2014 to the blood glucose monitoring device and the free Android app," said Richard Steingold, co-director and chief executive officer of InnoMed Ltd.
LabStyle announced on November 4th plans to begin the worldwide roll-out of the Dario diabetes management platform beginning with the market launch of the iOS app on December 12th in the United Kingdom, New Zealand and Australia. Customers in these countries will be the first to be able to download the complimentary app from the Apple App Store and immediately begin experiencing the novel functionality and benefits of Dario™'s iOS app, no matter what blood glucose monitoring device they are currently using, by manually inputting the information.
LabStyle announced on November 12th it will launch the iOS app in Italy and Belgium and the Android app, in the United Kingdom, New Zealand, Australia, Italy and Belgium - both during first quarter 2014. In the same announcement, the company reported first quarter 2014 plans to soft launch of the Dario™ all-in-one blood glucose monitoring device in the United Kingdom, Italy, Belgium, New Zealand and Australia.
About LabStyle Innovations
LabStyle Innovations Corp. (OTCQB:DRIO) is a mobile health (mHealth) company developing and commercializing patent-pending technology providing consumers with laboratory-testing capabilities using smart phones. LabStyle's flagship product, Dario™, is a mobile, cloud-based, diabetes management platform which includes a stylish, 'all-in-one', pocket-sized, blood glucose monitoring device. Dario™ received CE mark certification in September 2013 and is pursuing patent applications in multiple jurisdictions covering the specific processes related to blood glucose level measurement as well as more general methods of rapid tests of body fluids using mobile devices and cloud-based services. For more information: http://www.mydario.com.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of LabStyle Innovations Corp. (the "Company") related thereto contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the results of the distribution arrangement and the results of the Company's commercial plans for Dario as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Dario™ and the Dario™ logo are trademarks owned by LabStyle Innovation Ltd.
© 2013 LabStyle Innovations Corp. All rights reserved.
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