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PARSIPPANY, N.J., Nov. 19, 2020 /PRNewswire/ — Just in time for Black Friday and the holiday travel season, Wyndham Hotels & Resorts—the world’s largest hotel franchising company with approximately 9,000 hotels across 90 countries—is announcing a new week-long Mobile App Flash Sale, offering special savings of 25 percent off at thousands of hotels across the U.S and Canada.

Starting November 24, 2020 through December 1, 2020, travelers yearning for a new beachside remote work location, adventurous road trip, scenic national park visit or simply a much-needed change of scenery, can save 25 percent off the best available rate at participating hotels when they book through Wyndham’s all-new mobile app. The discount, which is among Wyndham’s richest of the year, is combinable with other offers, including the Company’s current “Stay Twice, Get a Free Night” promotion, in which Wyndham Rewards® members can earn 7,500 bonus points after completing two qualified stays.

“We’re thrilled to offer travelers another opportunity to save this holiday season as we all look for safe ways to get away, recharge and enjoy a bit of relaxation,” said Sheila Schottland, vice president, brand marketing, Wyndham Hotels & Resorts. “With elevated health and safety protocols, plus an innovative mobile app that offers streamlined, low-contact features like mobile check-in and checkout, guests can feel confident knowing that their health and safety continue to come first.”

To take advantage of Wyndham’s latest flash sale, deal-seekers must first download the Wyndham Hotels & Resorts’ mobile app—available in the Apple App and Google Play stores—and then tap the Mobile App Flash Sale offer on the app’s home screen. Membership in Wyndham Rewards, which is free to join, is required for the offer, and non-members can quickly enroll as part of the booking process. A two-night minimum stay is required and stays must be completed by January 18, 2021. Bookings may be cancelled free of penalty if done 72-hours before a stay. For full terms and conditions, visit www.wyndhamhotels.com/app.

Ideal Hotels for Work or Play
Whether seeking a new spot to squeeze in some remote work or searching for the perfect socially-distanced holiday getaway, Wyndham Hotels & Resorts offers travelers thousands of hotels across a wide-range of price points and destinations. Among just a few options:

• Wyndham Grand® Clearwater Beach (Clearwater, Fla.)
  Just steps away from beautiful Clearwater Beach, this sophisticated resort offers spectacular views of the ocean or nearby marina from all of its rooms. Perfect for relaxation, Wyndham Grand Clearwater Beach offers upscale amenities, including a full-service spa, outdoor pool and therapeutic whirlpool spa, 24/7 fitness center and grand sundeck. Guests also have access to a 24/7 business center and multiple dining options. Average rates start around $267 per night, prior to any discounts.

• La Quinta® by Wyndham Santa Rosa Sonoma (Santa Rosa, Calif.)
  Located in the famous Sonoma wine district, this newly opened hotel is surrounded by world-class wineries, stunning parks and gardens, golf courses, shops and more. Perfect for both unwinding while staying connected, guests can enjoy a heated outdoor pool, hot tub and fitness center, as well as the hotel’s free high-speed Wi-Fi. Average rates start around $154 per night, prior to any discounts.

• Travelodge® by Wyndham Holbrook (Holbrook, Ariz.)
  Pull off historic Route 66 into Travelodge Holbrook for comfortable accommodations during an eastern Arizona road trip. Travelers looking for a bit of exploration and discovery during their stay can venture out to the Petrified Forest National Park and surreal Painted Desert – about 20 miles from the hotel – or travel an hour west towards Winslow, Ariz. to Meteor Crater, among the best-preserved meteorite crash spots in the world. Guests looking to stay connected can also enjoy the hotel’s free Wi-Fi. Average rates start around $67 per night, prior to any discounts.

• Super 8® by Wyndham Mahwah (Mahwah, N.J.)
  Situated off I-287 near New York’sHudson Valley, Super 8 by Wyndham Mahwah provides outdoor enthusiasts the chance to explore Harriman-Bear Mountain State Parks, featuring 31 lakes and reservoirs, and more than 200 miles of scenic hiking trails. During the colder months, travelers can enjoy snowshoeing and ice skating at Bear Mountain State Park while taking in the snow-topped forests in the surrounding area. The hotel also offers the Super 8 brand’s unique ROOM8 concept with rooms featuring vintage arcade games and individual sleeping spaces for up to four guests. Average rates start around $63 per night, prior to any discounts.

As the travel landscape continues to evolve in the wake of COVID-19, Wyndham and its brands remain committed to the health and safety of guests and team members. The vast majority of the Company’s hotels remain open and are welcoming guests with flexible booking policies and enhanced health and safety protocols through Wyndham’s Count on Us^SM initiative. The Company has also extended current Wyndham Rewards Member Levels (status) through the end of 2021 and paused points expiration through the end of this year. Guests are encouraged to check local travel guidelines and restrictions prior to travel. Learn more at www.wyndhamhotels.com/COVID-19.

About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,000 hotels across approximately 90 countries on six continents. Through its network of 804,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 20 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company’s award-winning Wyndham Rewards loyalty program offers 85 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.

About Wyndham Rewards
Recently named the number one hotel rewards program by readers of USA TODAY, Wyndham Rewards® is the world’s most generous rewards program with more than 30,000 hotels, vacation club resorts and vacation rentals worldwide. Designed for the everyday traveler, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide-range of rewards, including free nights at any of approximately 9,000 hotels or thousands of vacation club resorts and vacation rentals globally through affiliation with Wyndham Destinations (NYSE: WYND) and others. Wyndham Rewards has 85 million enrolled members around the globe. Join for free today at www.wyndhamrewards.com. You’ve earned this.®

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SOURCE Wyndham Hotels & Resorts

– Complementary OSB business expands product and geographic diversity

– Greater scale and customer relevance unlocks and de-risks growth opportunities

– West Fraser and Norbord shareholders to benefit from a stronger value creation platform

– Joint investment community conference call today at 7:00 a.m. PT / 10:00 a.m. ET

VANCOUVER, BC and TORONTO, ON, Nov. 19, 2020 /PRNewswire/ – West Fraser Timber Co. Ltd. (“West Fraser“) (TSX: WFT) and Norbord Inc. (“Norbord“) (TSX: OSB) (NYSE: OSB) today announced that they have entered into a strategic business combination pursuant to which West Fraser, a leading North American diversified wood products company will acquire all of the outstanding common shares of Norbord, the world’s largest OSB producer, in an all-stock transaction valued at approximately C$4.0 billion (US $3.1 billion) (the “Transaction“). Following closing, the combined company will operate as West Fraser.

With a complementary range of products, increased scale, and greater geographic and end-market diversification, West Fraser will be a global wood products leader, with established and growing positions in both North America and Europe. With low cost and profitable operations in complementary sectors, West Fraser is expected to generate more stable and resilient earnings through the cycle, with a best-in-class platform for future growth and value enhancement. At the close of this Transaction, West Fraser will be a top global producer of both lumber and OSB.

“Norbord’s OSB production is a perfect complement to the West Fraser portfolio, enabling us to deliver a wider range of wood products, and making us a more complete, efficient and valuable partner for our customers,” said Raymond Ferris, President and Chief Executive Officer of West Fraser. “Norbord is the largest global OSB producer with a well-earned reputation for cost and margin performance, and for expanding the use of OSB in new applications and industries. The Norbord business will also bring additional geographic diversity, and an expanded opportunity set, from its well-established positions in the United Kingdom and Western Europe. This Transaction gives us additional financial flexibility to pursue strategic growth opportunities, and better positions our company to deliver value to shareholders through the cycle. Our companies have complementary operating cultures, with a common priority on safety, sustainability and cost management, and we are thrilled to welcome Norbord’s talented employees to West Fraser. We look forward to drawing from best practices across the operations as we pursue the significant strategic opportunities this Transaction will unlock.”

“This Transaction recognizes Norbord’s global OSB position and is a very exciting opportunity for our customers, our employees and our shareholders,” said Peter Wijnbergen, President and Chief Executive Officer of Norbord. “Joining West Fraser will allow us to expand our profile with our core new home construction customers, and provides a stronger platform to pursue our industrial OSB products strategy. Norbord shareholders will have meaningful participation in a more diversified and resilient wood products leader with a superior ability to accelerate growth, and an impressive track record of cost leadership, margin performance, and shareholder returns. For our team, this will provide expanded opportunities as part of a larger company with common values and a shared priority on safety. Our Board and executive team have great respect for West Fraser, and we look forward to being a part of a much broader business with the West Fraser team.”

The companies have entered into a definitive agreement pursuant to which West Fraser will acquire all of the shares of Norbord. Norbord shareholders will receive 0.675 of a West Fraser share for each Norbord share, which equates to C$49.35(US$37.78) per Norbord common share, based on the closing price of West Fraser common shares on November 18, 2020. This represents a 13.6% premium to the closing price of Norbord’s shares on the TSX on November 18, 2020, and a premium of 8.0% based on the 10 day volume weighted average trading prices of both companies. Upon closing current West Fraser shareholders will own approximately 56% of the company, with current Norbord shareholders owning approximately 44%.

A Diversified Global Wood Products Leader

This Transaction firmly establishes West Fraser as a leader in the global wood products industry, with a greater platform for shareholder value creation founded on a premier product mix, strong balance sheet, and enhanced scale and diversity.

• Expanded, higher value, customer relationships – with a combined home and building construction product offering that includes a wide range of lumber and OSB panel applications, as well as other engineered wood products, the combined company is more relevant, efficient and valuable for its principal pro-dealer, homebuilder, and building construction customer segments.

• Unlocks and de-risks strategic growth potential – the combined business will have the operational platform and financial capacity to accelerate growth in the North American lumber and industrial panels segments, as well as in both lumber and OSB in Europe.

• Expanded product portfolio and additional operating talent – the Transaction adds a strong cash flow generating OSB business to West Fraser’s existing portfolio. As complementary businesses producing and selling distinct products, West Fraser intends to retain all Norbord mills in North America and Europe, and rely on the skills and experience of current Norbord management and employees to continue to grow the engineered wood business. West Fraser will continue to maintain a significant office presence in Vancouver, Toronto, Quesnel and Memphis, as well as in Norbord’s existing European locations.

• Meaningfully enhanced capital markets profile – with last twelve months (LTM) combined revenues of C$8.0 billion (US $5.9 billion) and LTM Adjusted EBITDA of C$1.7 billion¹ (US $1.2 billion), West Fraser will be a clear leader among historical peers, and well-positioned among a larger comparable peer universe. With a strong balance sheet and leverage position, West Fraser expects the Transaction will lead to a reduced cost of capital. To facilitate the further participation of investors in West Fraser’s securities, West Fraser will apply to list its common shares on the New York Stock Exchange on or prior to closing, and intends to begin reporting its financials in U.S. dollars following closing.

• More stable cash flows and increased resilience – with increased scale, and diversity across products and end uses, geographies, and markets, the combined company will have a stronger financial ability to weather volatility and deliver returns through the cycle.

• Balanced Capital Allocation – West Fraser expects to continue its long-term track record of balanced capital allocation including maintaining appropriate financial flexibility, strategically investing to maintain low cost operations, and efficiently returning capital to shareholders on a regular basis.

• Meaningful synergies extend track record of cost leadership – the companies are already leaders on costs and Adjusted EBITDA¹ margins in their respective segments, and the Transaction is expected to improve that performance through meaningful synergies of up to C$80 million (US$61 million) annually from fibre supply chain simplification, shared purchasing programs, transportation optimization, leveraging technology to improve reliability and productivity, and more efficient capital allocation. These synergies are expected to be achieved within two years of closing.

West Fraser will continue to be led by Mr. Ferris as Chief Executive Officer and Chris Virostek as Chief Financial Officer. Following closing, Mr. Wijnbergen will be appointed President, Engineered Wood, responsible for the company’s OSB, plywood, particleboard, MDF and veneer operations. Sean McLaren, currently West Fraser’s Vice-President, U.S. Lumber, will be appointed President, Solid Wood, responsible for all of the company’s lumber operations.

West Fraser’s Board of Directors will continue to be chaired by Hank Ketcham. At closing, two of Norbord’s current independent directors will join the West Fraser Board.   

At the Forefront of Sustainability and Responsibility

The Transaction enables West Fraser to further its commitment to safety and sustainability as well as environmental, social and governance (ESG) responsibility.

• Safety as the overarching priority – both West Fraser and Norbord view safety as a hallmark of operational excellence and will continue to strive for improvements in safety performance by leveraging best practices from both companies, including Norbord’s “Stronger Together” initiative.
• Increased productive fibre utilization – with a more diverse production platform West Fraser will be able to more fully utilize harvested logs, for example by producing OSB with tree thinnings and marginal wood inappropriate for lumber products.
• Expanding carbon storage – the combined company’s wood building products already represent a meaningful contribution to reducing carbon from the air, storing approximately 15 million tonnes of carbon dioxide equivalent per year; greater scale and market opportunities will allow for West Fraser to manufacture a wider range of carbon-storing building products.
• Dedicated sustainability practices – across the combined company, the fibre supply chain is 100% certified for responsible sourcing, and 100% of harvest sites are reforested.
• Reducing emissions – West Fraser remains committed to the “30 by 30” Climate Change Challenge, an industry-wide effort to help Canada move to a low-carbon economy by removing 30 megatonnes of CO₂ per year by 2030.
• Progress on diversity – West Fraser firmly believes that all of its stakeholders benefit from the broader exchange of perspectives and balance brought by diversity of background, thought and experience, and to this end welcomes the opportunity to add two women as independent members of its Board of Directors, significantly enhancing its gender diversity.

Added Mr. Ferris: “Environmental stewardship, sustainability and social responsibility are at the heart of everything we do, and we are energized by the new opportunities we will have with a larger platform, an expanded team, and greater reach.”

Transaction Agreements

The Transaction will be completed pursuant to an arrangement agreement entered into between West Fraser and Norbord.

Norbord’s principal shareholder, Brookfield Asset Management Inc. and its controlled entities (“Brookfield”) have entered into a voting support agreement (the “Brookfield Support Agreement“), pursuant to which Brookfield has agreed to vote all of its Norbord common shares, representing, in total, approximately 43% of the Norbord common shares, in favour of the Transaction at a special meeting of Norbord shareholders to be held to consider the proposed Transaction (the “Norbord Meeting“). Under the Brookfield Support Agreement, Brookfield has also agreed to vote in favour of the recommendations of West Fraser management in connection with ordinary course matters at the 2021 annual general meeting of West Fraser shareholders.

Certain affiliates of members of the Ketcham family have entered into voting support agreements with Norbord pursuant to which they have agreed to vote a total of 13,013,800 common shares, including Class B shares, of West Fraser, representing approximately 19% of the outstanding common shares of West Fraser in favour of the Transaction at a special meeting of West Fraser shareholders to be held to approve the Transaction (the “West Fraser Meeting”).

As part of the Transaction, West Fraser has secured US$1.3 billion (C$850 million and US$650 million) in committed credit facilities, which are available upon closing and estimated to provide U$1.1 billion in undrawn revolving capacity. The committed facilities were provided by TD Securities as sole underwriter and bookrunner.

Transaction Conditions and Timing

The Transaction will be implemented by way of a court-approved plan of arrangement under the Canada Business Corporations Act (the “Arrangement“). The Arrangement will require the approval of 66^2/3% of the votes cast by Norbord shareholders present in person or represented by proxy at the Norbord Meeting.  West Fraser will be required under the policies of the TSX to obtain the approval of a simple majority of the votes cast by the holders of West Fraser’s common and Class B shares at the West Fraser Meeting.

The completion of the Transaction will also be subject to the listing by West Fraser of its common shares on the New York Stock Exchange (“NYSE“). As a result, U.S. shareholders of Norbord will receive shares of West Fraser upon completion of the Arrangement that will be tradeable on the NYSE. 

In addition to shareholder approvals the Transaction will also be subject to approval by the Ontario Superior Court of Justice, regulatory approvals and closing conditions customary in transactions of this nature.

The Arrangement Agreement provides for customary deal-protection provisions, including mutual non-solicitation covenants and rights to match superior proposals.  The Arrangement Agreement includes a reciprocal termination fee of C$110 million that may be payable by either West Fraser or Norbord in certain circumstances.

A copy of the arrangement agreement between West Fraser and Norbord will be available on West Fraser’s and Norbord’s company profiles on SEDAR at www.sedar.com.

It is anticipated that the meetings of the West Fraser and Norbord shareholders to consider the Transaction will be held in January 2021. The Transaction is expected to close in the first quarter of 2021.

Board of Directors’ Recommendations and Support Agreements

The Boards of Directors of each of West Fraser and Norbord have unanimously approved the Transaction and recommend that the West Fraser and Norbord shareholders vote in favour of the Transaction.

TD Securities and Scotiabank have each provided a fairness opinion to the Board of Directors of West Fraser stating that, as of the date of such opinions and based upon and subject to the assumptions, limitations and qualifications stated in such opinions, the consideration to be paid by West Fraser to the shareholders of Norbord is fair, from a financial point of view, to West Fraser. RBC Capital Markets has provided a fairness opinion to the Board of Directors of Norbord stating that, as of the date of such opinion and based upon and subject to the assumptions, limitations and qualifications stated in such opinion, the consideration under the Transaction is fair from a financial point of view to the shareholders of Norbord.

Advisors and Counsel

TD Securities is serving as financial advisor to West Fraser. Scotiabank is serving as independent financial advisor to the Board of West Fraser. McMillan LLP is acting as legal counsel to West Fraser.

Torys LLP is acting as legal counsel to Norbord.

Investment Community Conference Call

The Chief Executive Officers of West Fraser and Norbord will host a joint investment community conference call today, November 19, 2020 at 7:00 a.m. PT / 10:00 a.m. ET. A slide presentation will be available prior to the call on each company’s website. Callers are advised to dial in 5-10 minutes prior to the start time at 1-888-390-0605 (toll-free North America) and ask to join the call.

Note 1: Non-IFRS Measures

This news release makes reference to Adjusted EBITDA and Adjusted EBITDA margin (collectively “Non-IFRS measures”).  Both West Fraser and Norbord believe that, in addition to earnings, these Non-IFRS measures are useful performance indicators for investors with regard to operating and financial performance.  Adjusted EBITDA is also used to evaluate the operating and financial performance of our operating segments, generate future operating plans, and make strategic decisions.  These Non-IFRS measures are not generally accepted financial measures under IFRS and do not have standardized meanings prescribed by IFRS.  Investors are cautioned that none of these Non-IFRS measures should be considered as an alternative to earnings, earnings per share (“EPS”), or cash flow, as determined in accordance with IFRS.  As there is no standardized method of calculating any of these Non-IFRS measures, our method of calculating each of them may differ from the methods used by other entities and, accordingly, our use of any of these Non-IFRS measures may not be directly comparable to similarly titled measures used by other entities.  Accordingly, these Non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.  Adjusted EBITDA is the combination of the Adjusted EBITDA as reported by each company.  The reconciliation of the Non-IFRS measures used and presented by both Companies to the most directly comparable IFRS measures is shown in each company’s annual and quarterly Management’s Discussion and Analysis.

Cautionary Note Regarding Forward-Looking Statements and Information


Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things:

• the anticipated completion of the Transaction and timing for such completion;
• potential impact on West Fraser’s and Norbord’s earnings, cash flows, margin performance, shareholder returns and costs leadership;
• integration of Norbord management and operations, cost savings and impacts on customer relationships and growth opportunities;
• impact on West Fraser’s and Norbord’s capital markets profile;
• approval of the action by West Fraser and Norbord shareholders;
• obtaining regulatory approvals and satisfying closing conditions;
• the listing of West Fraser’s common shares on the NYSE; and
• the applicability of the exemption under Section 3(a)(10) of the Securities Act to the securities issuable in the Transaction.

These forward-looking statements and information reflect West Fraser’s and Norbord’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by West Fraser and Norbord, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. West Fraser and Norbord caution the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and West Fraser and Norbord have made assumptions and estimates based on or related to many of these factors. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following:

• the ability to consummate the Transaction;
• the ability to obtain requisite regulatory and shareholder approvals;
• the satisfaction of other conditions and the consummation of the Transaction;
• the ability of West Fraser to successfully integrate the operations, management and employees of Norbord and achieve cost savings;
• the potential impact of the announcement or consummation of the Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors;
• changes in general economic, business and political conditions, including changes in the financial markets;
• changes in applicable laws;
• compliance with extensive government regulation; and
• the diversion of management time on the Transaction.

Certain of these factors are identified under the caption “Risks Factors” in each Company’s most recent Annual Information Form and Annual and Quarterly Management Discussion & Analysis filed with Canadian provincial securities regulatory authorities. Although West Fraser and Norbord have attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management’s current views of our near and longer term prospects and may not be appropriate for other purposes. West Fraser and Norbord do not intend, nor do they assume any obligation to update or revise forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.

U.S. Securities Matters

None of the securities to be issued pursuant to the Arrangement Agreement have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws. The West Fraser common shares to be issued in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

View original content:http://www.prnewswire.com/news-releases/west-fraser-to-acquire-norbord-creating-a-diversified-global-wood-products-leader-301176856.html

SOURCE West Fraser Timber Co. Ltd.

NEW YORK, Nov. 19, 2020 /PRNewswire/ — DarioHealth Corp. (NASDAQ: DRIO), a pioneer in the global digital therapeutics market, presented results from a new clinical study of 940 members at the 20^th Annual Diabetes Technology Society Meeting (DTS), which showed a marked reduction in the percentage of high blood glucose readings and in the average blood glucose readings in adults over the age of 65 years using Dario’s digital therapeutics platform (Dario DTx).

There is a commonly held belief that the technologies employed by digital therapeutics (DTx) platforms present a potential barrier to engagement in older adults. Approximately one-quarter of people aged 65 years and over have diabetes, and one-half of older adults are prediabetic. The study examined whether the Dario DTx platform can contribute to better diabetes management, which may result in improved clinical outcomes in older individuals.

Results of the study included the following:

• Users in the age group ≥65 (298 users) improved their average blood glucose at six months by 13% and sustained outcomes for 12 months. This observation was comparable to the outcome of the <65 age group at 12 months (642 users).
• The high readings ratio (>250 mg/dL) was reduced in the ≥65 age group by 38.1% at six months and 41.5% at 12 months. The ratio of high readings after 12 months in the ≥65 age group was 13.7% versus 20.6% at the <65 age group.

The study was based on retrospective data analysis of a cohort of Dario members with non-insulin-dependent type 2 diabetes, evaluated for a period of 12-months continuous Dario DTx use. The baseline was established with Dario members whose average blood glucose levels were greater than 180 mg/dL in the first month of Dario DTx use. Members were stratified into two study groups, one aged 65 years and older and the other aged under 65 years.

The observed results showed that the positive clinical outcomes for adults over the age of 65 using the Dario platform were comparable, and in some cases more favorable, than those of younger adults (<65 age). Observing and understanding the relationship between their behavior and their blood glucose measurement with real-time actionable information may support older adults in changing behaviors tied to improved clinical outcomes.

Yifat Hershcovitz, Ph.D., Scientific & Clinical Director at DarioHealth, commented on the study, saying, “We believe that Dario’s DTx platform plays a role in driving behavioral modification and enhances adherence to diabetes and other chronic condition management in older adults. The results show that the platform can significantly reduce the percentage of high blood glucose ratios and may facilitate significant improvement in clinical outcomes, leading to better health outcomes for older individuals with diabetes.”

“DarioHealth strives to provide leading digital therapeutics that help users achieve truly meaningful health outcomes by making chronic condition self-management easier for members. We believe that this study shows that the Dario platform provides an innovative data-driven and engaging environment for everyone, regardless of age or technological ability. We also believe that the study provides further evidence of the real value that the Dario program provides for all our members,” said Erez Raphael, Chief Executive Officer of DarioHealth.

To access the scientific poster click here 

About DarioHealth Corp.

DarioHealth Corp. (Nasdaq: DRIO) is a leading global digital therapeutics company revolutionizing how people with chronic conditions manage their health. By delivering evidence-based interventions driven by data, high-quality software, and coaching, we empower individuals to make healthy adjustments to their daily lifestyle choices to improve their overall health. Our cross-functional team operates at the intersection of life sciences, behavioral science, and software technology to deliver highly engaging therapeutic interventions. Dario is one of the highest-rated diabetes solutions in the market, and its consumer-centric MyDario™ mobile app is loved by tens of thousands of members worldwide. DarioHealth is rapidly moving into new chronic conditions and geographic markets, using a performance-based approach to improve members’ health  managing chronic disease. To learn more about DarioHealth and its digital health solutions, please go to http://dariohealth.com/.

About DTS

Diabetes Technology Society (DTS) is a nonprofit organization committed to promoting development and use of technology in the fight against diabetes. DTS was established in 2001 by David C. Klonoff, MD, FACP, FRCP (Edin), Fellow AIMBE, Clinical Professor of Medicine at University of California, San Francisco (CV).

The DTS mission is to spearhead collaborative efforts by experts in academia, clinical practice, industry, and government to accelerate development of practical technology for treating, monitoring, diagnosing, and preventing diabetes mellitus and its complications.

In pursuit of its goals, DTS works closely with many government agencies, national organizations, and medical schools. DTS also maintains regular communication with developers and manufacturers of pharmaceutical drugs, devices, and software for diabetes care.

DTS presents three scientific conferences each year. Several thousand scientists and researchers from more than 25 countries regularly participate in these highly successful conferences.

Cautionary Note Regarding Forward-Looking Statements

This news release and the statements of representatives and partners of DarioHealth Corp. (the “Company”) related thereto contain 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. For example, the Company is using forward-looking statements in this press release when it states its belief that its DTx platform plays a role in driving behavioral modification and enhances adherence to diabetes and other chronic condition management in older adults, the belief that the study shows that its platform provides an innovative data-driven and engaging environment for everyone, regardless of age or technological ability and the belief that the study provides further evidence of the real value that the its program provides for all its members. 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™) 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.

DarioHealth Corporate Contact: 
Claudia Levi 
Content & Communications Manager
[email protected] 
+1-347-767-4220

Media Inquiries:
Investor Relations Contact:
Chuck Padala
[email protected]
+1-646-627-8390

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SOURCE DarioHealth Corp.

BEIJING, Nov. 19, 2020 /PRNewswire/ — Ambow Education Holding Ltd. (“Ambow” or the “Company”) (NYSE American: AMBO), a leading national provider of educational and career enhancement services in China, today announced that one of its wholly-owned subsidiaries in China, Beijing Ambow Shengying Education and Technology Co., Ltd (“Ambow Shengying”), has entered an definitive agreement with the Ziyang Education and Sports Bureau with regard to the Sichuan Ziyang Technical and Vocational Education and Training (“TVET”) project, which is financially supported by Asian Development Bank (“ADB”) as a part of its inclusive green development scheme.

Pursuant to this agreement, Ambow Shengying will provide Ziyang TVET center with curriculum design and technological aid for teaching capacity expansion, to receive a total consideration of RMB5.63 million. Ambow received the highest ratings in the bidding process, underscoring its comprehensive capabilities supported by its talented team, educational expertise, worldwide resources network, well-versed education system, advanced technology, pioneering innovation and its twenty-year proven track record in vocational education sector.

The ADB is committed to promoting social and economic development in the Asia Pacific region as well as providing aid to its members and partners through loans and technological support since its establishment. The ADB focuses on projects that will have significant development impact and will lead to accelerated, sustainable, and inclusive growth. Ambow’s bid-winning reflected the recognition from international institutions over Ambow’s capabilities and brand, another testament to the success in executing on vocational education service strategy which supports regional economic development and transformation.

Dr. Jin Huang, President and Chief Executive Officer of Ambow, commented, “This agreement demonstrates the strength of our core capabilities which builds the trust in expanding cooperation with international financial organizations. Leveraging our twenty-year proven track record in vocational education sector, we’ll further explore new growth avenues, innovate in education technologies and expand product and service offerings as the Company aims to provide educators and students across the nation with world-class educational resources and services.”

About Ambow Education Holding Ltd.

Ambow Education Holding Ltd. is a leading national provider of educational and career enhancement services in China, offering high-quality, individualized services and products. With its extensive network of regional service hubs complemented by a dynamic proprietary learning platform and distributors, Ambow provides its services and products to students in 15 out of the 34 provinces and autonomous regions within China.

Follow us on Twitter: @Ambow_Education

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the outlook and quotations from management in this announcement, as well as Ambow’s strategic and operational plans, contain forward-looking statements. Ambow may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contaied in any forward-looking statements, including but not limited to the following: the Company’s goals and strategies, expansion plans, the expected growth of the content and application delivery services market, the Company’s expectations regarding keeping and strengthening its relationships with its customers, and the general economic and business conditions in the regions where the Company provides its solutions and services. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Ambow undertakes no duty to update such information, except as required under applicable law.

For investor and media inquiries please contact:

Ambow Education Holding Ltd.
Tel: +86 10-6206-8000

The Piacente Group | Investor Relations
Tel: +1 212-481-2050 or +86 10-6508-0677
Email: [email protected] 

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SOURCE Ambow Education Holding Ltd.

TORONTO, Nov. 19, 2020 /CNW/ – To mark Women’s Entrepreneurship Day, BMO Financial Group today announced the ten recipients of its $100,000 grant program. As part of its longstanding commitment to helping the advancement of women, the new grant program celebrates Canadian women business owners’ innovation and resilience during the pandemic.

To assist with the grant recipient selection process, BMO collaborated with key strategic partners to establish an advisory committee and judging panel consisting of leaders from GroYourBiz, Women Presidents’ Organization (WPO), Women Get On Board, Women Business Enterprises Canada Council (WBE Canada), Women Entrepreneurship Knowledge Hub, and Deloitte.

Each business will receive $10,000 and have the opportunity to receive ongoing support through one of the bank’s partners, including a one-year membership with a peer advisory group for women business owners and a one-year certification with Women Business Enterprise Canada.

The BMO Celebrating Women 2020 Grant Recipients are:

• Ayanna Lee Rivears, Socacize Fitness: Socacize Fitness is a creative blend of Caribbean and African dance techniques, with effective fitness movements.
• Dr. Irit Van-Ham and Dr. Monika Yazdanian,
  ToeFX Inc.: Founded by two scientists, ToeFX is driven by innovation with a vision to create the world’s most effective foot care treatments.
• 
  Kim Knight and Shanelle McKenzie, The Villij: The Villij creates an inclusive, accessible, and nurturing community for women of colour to connect, heal and expand. It provides health and wellness services, including yoga, meditation, walking clubs, conversations, and workshops.
• 
  Meghan Peters and Kristin Verbeek, Lathered Cleaning Company Inc.: Established in 2013, Lathered Cleaning uses only natural cleaning products and is dedicated to giving time back safely and effectively to other busy people.
• 
  Pam Fanjoy, Fan/Joy: Chef Pam’s culinary passion has led her to create a line of Gourmet To Go prepared meals, the junior chef culinary and life skills programs and the youth-run café and marketplace to help improve the physical, mental and spiritual well-being of local youths and families.
• 
  Pooja Rao, got BALLZ Inc.: With a goal to produce high quality products, made with the utmost care from locally sourced ingredients, got BALLZ re-invents snacks and foods we love with a healthy twist.
• 
  Pooja Viswanathan, Braze Mobility Inc.: Braze Mobility has developed the world’s first blind-spot sensor system for wheelchairs, which automatically detects obstacles and provides multi-modal alerts (visual, vibration, and/or audio feedback) to the driver.
• 
  Rebecca Taylor, Ready to go Foods Inc.: With a passion for cooking and Caribbean flavours, Ready to go Foods allows those with busy lifestyles to enjoy healthy, Caribbean flavoured meals in their own kitchen.
• 
  Robyn Ledoux, A Touch of Health: Launched in 2009, A Touch of Health began as a simple one-woman massage therapy clinic. Since then, the business has grown to employ 10 people and has diversified to include a health food café, A Taste of Health.
• Shehreen Zaman, Math Project: Math Project offers students the opportunity to strengthen their math skills through on-site and online interactive sessions with a qualified team of tutors.

“A large part of supporting the advancement of women is celebrating the contributions made by women leaders, entrepreneurs and mentors in local communities,” said Erminia (Ernie) Johannson, Group Head, North American Personal and Business Banking, BMO Financial Group. “We’re proud to recognize these women and their ability to innovate in their businesses and persevere during this difficult time. Congratulations to this year’s honourees on all their achievements.”

Since its inception in 2012, BMO Celebrating Women has honoured more than 180 women in communities across Canada and the United States. In addition to the new grant program, BMO has developed programs and invested in solutions to support women entrepreneurs. The bank committed to making $3 billion in capital available to women-owned businesses across Canada over three years, has embedded diversity-focused procurement programs, and has created a new women’s business directory.

“These women – who have clearly demonstrated unrelenting drive and resilience throughout this last year – are essential not only to our economy, but to the future of Canada; their achievements cannot be overstated,” said Linda Blair, Managing Partner, Ontario, Deloitte Canada. “Deloitte is proud to assist BMO in recognizing the value of these entrepreneurs, to elevate their success, and to help them thrive at every step along the way.”

To learn more about the grant recipients and BMO Celebrating Women, visit bmoforwomen.com and join the social conversation using #BMOforWomen.

About BMO for Women
BMO is committed to supporting initiatives that empower women within its workforce and the communities the bank serves. BMO has partnered with organizations such as the Women Presidents’ Organization, GroYourBiz, Women Business Enterprises, and Women Get On Board to provide expertise, leadership, knowledge, and opportunities for women to network and learn. In 2018, BMO announced $3 billion in capital available over three years specifically for Canadian businesses owned by women. Through the only bank-owned recognition program for women in North America – BMO Celebrating Women – BMO celebrates successful women who have given back to their communities or achieved success in business. Since 2012, BMO Celebrating Women has honoured more than 180 women in communities across Canada and the United States.

About BMO Financial Group 
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $974 billion as of July 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

About Deloitte
Deloitte provides audit and assurance, consulting, financial advisory, risk advisory, tax, and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and service to address clients’ most complex business challenges. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

Our global Purpose is making an impact that matters. At Deloitte Canada, that translates into building a better future by accelerating and expanding access to knowledge. We believe we can achieve this Purpose by living our shared values to lead the way, serve with integrity, take care of each other, foster inclusion, and collaborate for measurable impact.

To learn more about how Deloitte’s approximately 312,000 professionals, over 12,000 of whom are part of the Canadian firm, please connect with us on LinkedIn, Twitter, Instagram, or Facebook.

SOURCE BMO Financial Group

FORT WORTH, Texas, Nov. 19, 2020 /PRNewswire/ — ECI Software Solutions (“ECI”), a leader in cloud-based business management software solutions for small and medium sized companies, today announced that Leonard Green & Partners (“LGP”) will acquire a majority stake in the company from funds advised by Apax Partners and The Carlyle Group. Upon completion of the transaction, funds advised by Apax Partners, which acquired ECI in 2017, will retain a minority stake in ECI. Financial terms of the transaction were not disclosed.

ECI is the premier provider of Enterprise Resource Planning (“ERP”) solutions, such as accounting, purchasing, warehousing and inventory management, to more than 22,000 customers globally. Under the Apax Funds’ and Carlyle’s ownership, ECI has experienced rapid growth both organically and through strategic M&A. Since 2017, ECI has made 15 acquisitions, helping it gain significant market share and scale internationally, with sizeable transactions in Europe and Australia consolidating its presence in those regions.

“The ECI team and I have had a powerful partnership with Apax and Carlyle as we have built the company into a leading SaaS business software solutions and services provider,” said Ron Books, ECI’s Chief Executive Officer. “They have been instrumental in the tremendous growth of our company, and we are proud of what we accomplished together. We are excited to welcome LGP as our new partner, and I am confident that this is the right choice for our future – and the future of our 1,700 employees and more than 22,000 customers.” 

Usama Cortas, Partner at LGP, said: “We are delighted to be partnering with a mission-driven company like ECI, which is focused on supporting the activities and growth of small to medium-sized businesses around the world. We invest in companies that win with people, have a differentiated culture and are market leaders with multiple ways to grow – and ECI is the perfect example. ECI has built an incredible track record of success, and we are excited to be partnering with ECI Management and Apax to support and accelerate the next phase of the company’s growth.”

Jason Wright, Partner at Apax Partners, said: “We have been proud to partner with Ron Books and the ECI management team over the past three years as they have executed their plan and transformed the Company through investment in products, international expansion and the completion of 15 acquisitions. Importantly, Ron and the team have instilled a unique culture that is customer-centric and employee-friendly. We’re excited about the opportunity to partner with LGP during this next phase of ECI’s growth.”

Steve Bailey, Managing Director at Carlyle, said: “It has been a tremendous journey with Ron and the ECI team and Apax over the years. Carlyle’s strategy is to focus on vertical market SaaS investments or successfully transition software businesses to a SaaS model. Our partnership with ECI is a great example of the latter. Through embracing the opportunity in SaaS, ECI has accelerated its growth while also benefitting from strategic acquisitions. We wish the team every success for the future.”

BofA Securities is acting as lead financial advisor, Barclays as financial advisor, and Skadden, Arps, Slate, Meager & Flom as legal advisor to Apax Partners and ECI. Latham & Watkins LLP acted as legal advisor to LGP.

About ECI

ECI Software Solutions provides industry-specific business software solutions and services, focusing on cloud-based technologies. For 30+ years, ECI has served small to medium-sized manufacturing, wholesale/retail distribution, building and construction, and field service organizations. Privately held, ECI is headquartered in Fort Worth, Texas, USA, with offices throughout the U.S., Canada, Mexico, England, the Netherlands, and Australia. For information, email [email protected], visit www.ECISolutions.com or call (800) 959-3367.

About Apax Partners LLP

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com. 

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $230 billion of assets under management as of September 30, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 30 offices across six continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About Leonard Green & Partners

Leonard Green & Partners, L.P. is a leading private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. LGP primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail, distribution, and industrials. For more information, please visit www.leonardgreen.com.

ECI Media Contacts

Wendi Sabo | +1 214 683 9217 | [email protected]

Apax Media Contacts 
Katarina Sallerfors | +44 207 872 6526 | [email protected]
Kekst CNC | +1 212 521 4854 | [email protected]
Greenbrook | +44 20 7295 2000 | [email protected]

Carlyle Media Contacts

Brittany Berliner | +1 (516) 404-2369 | [email protected]
Andrew Kenny | +44 7816 176120 | [email protected]

 

View original content:http://www.prnewswire.com/news-releases/eci-software-solutions-to-be-acquired-by-leonard-green–partners-funds-advised-by-apax-partners-to-retain-minority-stake-301177183.html

SOURCE ECI Software Solutions; Leonard Green & Partners; Apax Partners

YOKNEAM, Israel, Nov. 19, 2020 /PRNewswire/ — On Track Innovations Ltd. (OTI) (OTCQX: OTIVF), a global provider of near field communication (NFC) and cashless payment solutions, will release its financial results for the third quarter ended September 30, 2020 before market open on Monday, November 23, 2020.

Management will host an investor conference call at 11:00am ET to discuss the third quarter 2020 financial results and provide a corporate update. The call will conclude with a live Q&A session.

Investors and analysts may also submit questions they would like OTI to address on the call. Questions should be submitted by 4pm ET on Friday, November 20th to [email protected] to ensure they are addressed on the call. 

To participate, please use the following information:

Q3 2020 Conference Call and Webcast

Date: Monday, November 23, 2020
Time: 11:00 a.m. Eastern Time (8:00 am Pacific Time)
U.S. Toll Free Dial-in: 1-888-281-1167
International Dial-in: +972-3-918-0650
Webcast: http://veidan-stream.com/otiq3-2020.html

Please dial in a few minutes before the start of the call and request to join the “On Track Innovations Q3 2020 Earnings Conference Call” to ensure timely participation.

The replay of the conference call will be available via the investor relations section of the company’s website.

About On Track Innovations Ltd

On Track Innovations (OTI) is a global leader in the design, manufacture, and sale of secure cashless payment solutions using contactless NFC technology. OTI’s field-proven innovations have been deployed around the world to address cashless payment, automated retail and petroleum markets. OTI distributes and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.

OTI Investor Relations Contact:

Ehud Helft

GK Investor and Public Relations
+1-646-688-3559
[email protected]

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SOURCE On Track Innovations Ltd. (OTI)

NEW YORK, Nov. 19, 2020 /PRNewswire/ — InvestorsObserver issues critical PriceWatch Alerts for APVO, SOLO, AZN, CORT, and XXII.

To see how InvestorsObserver’s proprietary scoring system rates these stocks, view the InvestorsObserver’s PriceWatch Alert by selecting the corresponding link.

• APVO: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=APVO&prnumber=111920201 
• SOLO: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=SOLO&prnumber=111920201 
• AZN: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=AZN&prnumber=111920201 
• CORT: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=CORT&prnumber=111920201 
• XXII: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=XXII&prnumber=111920201 

(Note: You may have to copy this link into your browser then press the [ENTER] key.)

InvestorsObserver’s PriceWatch Alerts are based on our proprietary scoring methodology. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. Each of those scores is then combined into an overall score that determines a stock’s overall suitability for investment.

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/thinking-about-buying-stock-in-aptevo-therapeutics-electrameccanica-vehicles-astrazeneca-corcept-therapeutics-or-22nd-century-group-301177158.html

SOURCE InvestorsObserver