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| LabStyle Innovations | Booke and Company, Inc. |
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LabStyle Innovations Welcomes
Dennis M. McGrath to its Board of Directors
Senior medical device industry, public
company and accounting expert expands
the capabilities of LabStyle's Board
Booke and Company, Inc. retained as investor
relations consultant
Ramat Gan, Israel, November 14,
2013 --- LabStyle Innovations Corp. (OTCQB:DRIO), developer of Dario , a cloud-based,
mobile health (mHealth) platform for diabetes and related blood glucose monitoring, announced
today that medical device industry expert Dennis M. McGrath has joined the company's Board of Directors.
Mr. McGrath is the current president, chief
financial officer and a member of the Board of Directors of PhotoMedex, Inc. (NASDAQ:PHMD), a global medical device and specialty
pharmaceutical company with 2012 revenues of over $220 million. Mr. McGrath will serve on the Audit Committee of LabStyle's
"It is with great pleasure that we
welcome Dennis to LabStyle's board," said LabStyle's executive chairman and co-founder Dr. Oren Fuerst. "His
extensive experience, both in the international medical device field and in running U.S. public companies, will be highly additive
to the skill set of our board. We believe his agreement to join us is a ratification of our company, our product offering and our
strategies, and we believe his insights will help guide us to realizing our full potential as we begin to enter our commercial
Erez Raphael, LabStyle's president
and chief executive officer, stated, "Dennis understands what it takes to bring medical products to the market. I, along
with the rest of our management team, look forward to leveraging his experience as we seek to bring the complete Dario diabetes
management platform - software apps, glucose measuring device and web application - to diabetic patients and caregivers over
the next year. We're excited to have Dennis on board as the world-roll out of Dario begins next month on December 12th
with the launch of the iOS app in the United Kingdom, New Zealand and Australia. We are also pleased he will be with us as we continue
to seek regulatory approvals and commercial launches of the Dario platform in the U.S. and elsewhere throughout 2014."
Commenting on his appointment, Mr. McGrath
stated, "LabStyle is a company with a novel and exciting product offering, a clear vision and near and longer term goals
which I believe are attainable. Its management is highly focused, and its board is impressive. In short, all of the pieces are
in place for continued achievements, and I look forward to working with the company, its board and senior management."
Mr. McGrath joined PhotoMedex in 2000 as
CFO and EVP Finance and was appointed president, CEO and board director in 2009 at a challenging time in the company's history.
He thereafter navigated PhotoMedex through its transformational merger with Radiancy, Inc. in 2011, an accomplishment that earned
Mr. McGrath honors as 2012 SmartCEO Magazine CEO of the Year for Turnaround Companies.
Mr. McGrath has significant expertise in
public and private fund raising, mergers and acquisitions, and manufacturing. He has held several senior-level positions in prior
endeavors of public companies as well as the internet and e-commerce space, including AnswerThink Consulting Group, Think New Ideas,
Inc. and triSpan, Inc. He is also currently a director of Noninvasive Medical Technologies, Inc. and serves on the Board of Advisors
of Taylor University.
Mr. McGrath began his career as a senior
account/CPA at Arthur Andersen and Co. in Philadelphia. Mr. McGrath holds a B.S. in accounting from LaSalle University, where he
graduated Maxima Cum Laude. He has a CPA and is a member of the AICPA, PICPA and NJSCPA.
LabStyle also separately announced that
they have engaged Booke and Company, Inc. as its investor relations advisors. Booke and Co. is an independent financial and investor
relations consulting firm.
About LabStyle Innovations
LabStyle Innovations Corp. (OTCQB:DRIO)
is a mobile health (mHealth) company developing and commercializing patent-pending technology providing consumers with laboratory-testing
capabilities using smart phones. LabStyle's flagship product, Dario , is a mobile, cloud-based, diabetes management
platform which includes a stylish, all-in-one', pocket-sized, blood glucose monitoring device. Dario received
CE mark certification in September 2013 and is pursuing patent applications in multiple jurisdictions 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.
Cautionary Note Regarding Forward-Looking
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 benefits of the new board member described herein and the timing for and results of the Company's commercial plans for
Dario and the timing for and results of regulatory review of Dario) 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.
Dario and the Dario logo are trademarks owned by LabStyle Innovation Ltd.
2013 LabStyle Innovations Corp.