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- HeraMED (HMD) partners with e-Lōvu Health to supply its HeraCARE remote pregnancy monitoring technology to customers in the United States
- The companies strike a binding term sheet that will see the HeraMED supply 1000 kits to expectant mothers at e-Lōvu’ partner healthcare provider sites
- During the first year, e-Lōvu will pay HeraMED about US$550,000 (A$787,000) for the technology and a HeraCARE license
- The first e-Lōvu site is expected to launch by the end of the year, with full deployment expected in the next six to twelve months
- Shares in HeraMED are up 25 per cent to 16 cents per share at 10:17 am AEST
Pregnancy care tech specialist HeraMED (HMD) has partnered with e-Lōvu Health to supply its HeraCARE remote pregnancy monitoring technology to customers in the United States.
The companies have signed a binding term sheet that will see HeraMED supply 1000 kits to expectant mothers at e-Lōvu’ partner healthcare provider sites.
The kits to be provided under the deal include the HeraBEAT foetal heart rate monitor and Bluetooth-connected blood pressure cuffs with HeraCARE connectivity, which allow future mothers to monitor their pregnancies.
During the first year of the deal, e-Lōvu will pay HeraMED about US$550,000 (A$787,000) for the technology and a HeraCARE license.
However, this is subject to e-Lōvu Health securing the required funding, which is expected at the end of the third quarter this year.
The first e-Lōvu site is expected to launch by the end of the year, with full deployment expected in the next six to twelve months.
Following the initial period, the companies plan to enter a long-term strategic partnership.
HeraMED CEO and Cofounder David Groberman said he saw great potential in the partnership.
“The deal clearly validates the advantages of our technology and business model and officially launches our commercialisation into the United States market,” Mr Groberman said.
Shares in HeraMED were up 25 per cent to 16 cents per share at 10:17 am AEST.
