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- HeraMED (HMD) has signed an exclusive distribution agreement with Advanced Pregnancy Solutions for HeraCARE
- HeraCARE is a pregnancy monitoring device that gives online education and support to expecting mothers
- Under this agreement, MedTech Edge will increase the exposure of HeraCARE and sign commercial agreements
- It will also make sure the device is prepared for its full commercial launch in Australia
- CEO and Co-Founder of HeraMED, David Groberman, said this partnership is an important milestone in its Australian commercialisation strategy
- HeraMED is up a steady 8.33 per cent on the market today and shares are trading for 13 cents each
HeraMED (HMD) has signed an exclusive distribution agreement with Advanced Pregnancy Solutions for HeraCARE.
HeraCARE is HeraMED’s at-home digital pregnancy monitoring software-as-a-service (SaaS) platform that is designed to improve prenatal and postnatal care.
It does this by allowing mothers to become engaged in a collaborative process focused on managing the social, medical, and mental aspects of maternity.
Expecting mothers can read articles and blogs with the most recent and accurate information surrounding pregnancy, and they can receive 24/7 midwife support.
As announced in early March, HeraMED has completed beta stage testing and pilot testing and clinical trials can begin.
Advanced Pregnancy Solutions (APS), a subsidiary of MedTech Edge, is made up of experienced and well-connected teams of healthcare sales professionals that are focused on fast-tracking innovation by distributing medical solutions across Australia and New Zealand.
Under this initial two-year agreement, APS will utilise its knowledge and large customer base to increase the exposure of HeraCARE and sign commercial agreements.
APS must also make sure that HeraCARE is prepared for its full commercial Australian launch by ensuring it is optimised and meets all medical guidelines.
HeraMED will pay APS $11,500 as a marketing and set-up fee, as well as a monthly business development, consulting, and management fee of $3850.
Both parties can, at any time, terminate the agreement by providing no less than 60 days notice.
Four months after executing this agreement, both HeraMED and APS must also jointly develop and agree on a monthly subscription.
This will be based on revenue sharing between both companies.
“We are excited to be working with HeraMED and to be introducing their technology to the Australian and New Zealand maternity market,” MedTech and APS Managing Director David Zarfaty commented.
“This technology is cutting-edge and adds another dimension to healthcare that has been long overdue, as applying digital principles to conventional treatments is an important step in ensuring healthcare does not become outdated,” he said.
“These amazing technologies, coupled with our deep knowledge of local key opinion leaders, will allow for early deployment of this technology to the benefit of clinicians as they will be able to remotely monitor the wellbeing of mothers and babies during pregnancy,” he added.
Growth strategy
This partnership with APS strongly supports HeraMED’s growth strategy of becoming a leading maternity care service provider.
It also supports the company’s strategic objective of becoming a monthly subscription SaaS platform.
As a result, HeraMED has terminated its previous agreement with distributor, Dale Group International.
“This agreement represents an important milestone for the company in its Australian commercialisation strategy. MedTech Edge and APS have an excellent reputation and proven track record in selling innovative medical technologies,” HeraMED CEO and Co-Founder David Groberman stated.
“The agreement was signed after an extensive period of strict and professional due-diligence process, in which both parties carefully analysed the technical, medical and commercial potential. We believe APS is the optimal partner for HeraMED and we look forward to working with them,” he added.
HeraMED is up a steady 8.33 per cent on the market today and shares are trading for 13 cents each at 11:26 am AEST.
