CAESAREA, Israel and DANA POINT, Calif., March 11, 2014 /PRNewswire/ -- LabStyle Innovations Corp. (OTCQB: DRIO), developer of the Dario(TM) Diabetes Management Solution, today revealed the world's first personalized smart meter at the 26th Annual Roth Conference at the Ritz Carlton in Dana Point California.
In his talk about how mobile health (mHealth) makes life easier for people with diabetes, Mr. Erez Raphael, President and CEO of LabStyle, unveiled the company's flagship product; the Dario(TM) personalized smart meter. Dario(TM) combines a glucose meter that plugs directly into your smartphone, with a cutting edge, personalized software application that allows for real time recording and analysis of blood glucose readings as well as other features such as community support. The Dario(TM) personalized smart meter has been developed and designed by an experienced team of medical device, healthcare and software experts to provide diabetics and their caregivers with the tools, knowledge and motivation to make life easier through the daily struggle with diabetes.
Mr. Raphael also presented the global multi-market launch of the Dario(TM) smart meter including orders and shipments for out of pocket and online sales in four initial territories. Dario(TM) will be rolled out gradually in stages in a "soft launch" over the next several months, commencing with New Zealand, to be followed closely by Italy, Australia and the United Kingdom. LabStyle is presently seeking insurance reimbursement approvals, and the company expects to receive the first approvals before the end of the second quarter of 2014
"Living with diabetes is a daily struggle. It's an endless roller coaster of confusing blood sugar changes and managing the impact of every meal as well as physical activity and emotional stress. Diabetes never takes a day off, so even with 4 hours a year of medical advice and attention, there are still 8,756 hours a year managing diabetes alone." said Mr. Raphael. Mr. Raphael continued, "That's why we created Dario, the personalized smart meter - combining a glucose meter that plugs directly into any mobile device with smart software designed to make life easier for people with diabetes."
About LabStyle Innovations
LabStyle Innovations Corp. (OTCQB: DRIO) develops and commercializes patent-pending technology providing consumers with laboratory-testing capabilities using smart mobile devices. LabStyle's flagship product is the Dario((TM)) personalized smart meter. Dario((TM)) received CE mark certification in September 2013 and began a world rollout in select countries in December 2013. LabStyle filed a Premarket Notification Application, also known as a 510(k), with the US Food and Drug Administration (FDA) for the Dario(TM) smart meter (Dario((TM)) Blood Glucose Monitoring System) in December 2013. LabStyle is pursuing patent applications in multiple areas 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: www.mydario.com and http://mydario.investorroom.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 timing for and results of the Company's commercial and regulatory plans for Dario(TM) 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.
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SOURCE LabStyle Innovations Corp.