(February 22, 2024) Dario health announced on February 21, 2024 that it has acquired digital health company Twill. DarioHealth Corp. is a leading digital health company, shaping how people with chronic conditions manage their health through a user-centric, multi-chronic condition digital therapeutics platform. Twill is a digital-led care leader. DarioHealth says its acquisition of Twill will enable DarioHealth to create a comprehensive digital platform for chronic conditions. DarioHealth plans to leverage Twill’s innovation in well-being and navigation to enhance DarioHealth’s end-to-end member journey for optimization across solutions.
Under the financial terms of acquisition, DarioHealth paid $10 million of cash and agreed to issue approximately 10 million shares of common stock in the form of pre-funded warrants, which are in the interest of Twill’s debt holders and equity holders. The warrants will vest in four equal amounts at 270 days, 360 days, 540 days and 720 days, post deal closing.
The acquisition is expected to double DarioHealth’s pro format 2023 revenue. DarioHealth CEO Erez Raphael said, “the addition of Twill instantly boosts revenue and margins, leveraging a robust SaaS-like model to fuel expected rapid growth and accelerating profitability. We are confident in our ability to integrate Twill and its employees and operations, as we have a track record of integrating previously acquired businesses.”
Tags
Acquisitions, DarioHealth, Merger, Twill
