DarioHealth Corp. ( DRIO ) said Thursday that its board has begun a strategic review following unsolicited interest from potential partners.

The New York-based digital health company, which develops chronic condition management platforms, formed a special committee of independent directors to explore options, including a sale, merger, or continuation as a standalone business.

The committee hired Perella Weinberg Partners as a financial advisor to assist in the process. Dario said it has not set a timetable for the review and will provide updates only if appropriate.

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The company stressed there is no assurance that any deal will take place.

Dario strengthened its balance sheet this quarter with a $17.5 million oversubscribed private placement, bringing its cash position to about $40 million as of the end of the second quarter 2025.

The company also converted preferred stock into common shares, creating a simpler capital structure for investors.

Lawrence Leisure, co-chair of the special committee, said the company's digital health platform is backed by clinical evidence and growing commercial adoption.

He added that a stronger balance sheet positions Dario to continue serving customers while considering outside opportunities to enhance growth.

Health technology firms have increasingly pursued partnerships and consolidation to accelerate scale and market share. Experts point to ongoing digital health consolidation trends as drivers for strategic reviews like Dario's.

Price Action: At last check Thursday, DRIO shares were trading lower by 5.11% to $9.100 premarket.

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