Digital therapeutics co Dario raises $70m, buys Upright
DarioHealth is paying $31 million to add Upright's musculoskeletal solution to its digital therapeutic platform.
Israeli digital therapeutics company DarioHealth Corp. (Nasdaq: DRIO) announced today the signing of a definitive agreement to acquire digital musculoskeletal (MSK) company Upright Technologies Ltd. in a stock transaction. Dario is adding Upright's MSK solution to its digital therapeutic platform, which is one of the most comprehensive multi-chronic condition platforms in the market with 150,000 users.
Dario is paying $31 million for Upright with $29.5 paid in stock and $1.5 million in cash, after deducting outstanding debt and making working capital adjustments.