Digital chronic-condition management platform DarioHealth secured a loan facility of up to $50 million from OrbiMed.
The five-year facility includes $25 million at closing, with another $25 million available before June 30, 2023, providing Dario achieves certain revenue targets, Mobi Health News reports. The company said it will use the funds to continue developing its platform and accelerate its adoption.
“Between this debt facility and the cash and cash equivalents on our balance sheet at the end of the first quarter of 2022, we potentially have access to more than $100 million in capital,” CEO Erez Raphael said in a statement. Read more.
