Making maternity care more accessible to all expectant parents including those in regional and rural Australians, HeraMED (ASX: HMD) has been promoting at-home pregnancy management using its digital monitoring device HeraCARE. Now the Company has levelled up its strategic shift for the device by securing a new Partner Agreement with Telstra Health, expanding its customer base.
HeraCARE will integrate into MedicalDirector Clinical by Telstra Health under the Partner Agreement, providing remote pregnancy solutions to Telstra Health’s primary care customers.
MedicalDirector is a clinical and practice management software used by Australian GPs, making the partnership ideal to integrate HeraMED’s reach into Telstra Health’s extensive GP audience as HeraMED aims to onboard more private clinics, particularly rural and regional GPs, as part of its commercial plan.
Telstra Health doesn’t currently offer a remote pregnancy solution, therefore HeraCARE will be the first remote maternity solution that fills the provision of care for its primary customers.
Commenting on the partnership, HeraMED Executive Vice-President ANZ Anoushka Gungadin said, “I am delighted to have signed this agreement with Telstra Health, a global leader in digital health and solutions for connected healthcare.
“This is the result of months of work behind the scene and more to come as we bring care to mums and value to GPs in their care delivery. GPs play a key role in the pregnancy journey in the Australian model of care. ”
HeraMED Executive Chairman Ron Weinberger added that the Partner Agreement represents validation of the Company’s technology from one of the leading digital health operators globally, which poses a tailwind for HeraMED moving forward.
The agreement involves Telstra Health collaborating to educate and market HeraCARE benefits to its GP customer base. Integration into MedicalDirector Clinical is in progress, and education and marketing campaigns are set to begin soon. HeraCARE is planned for launch to Telstra Health customers in Q1 CY2024.
A medical data and technology company specialising in digital maternity care platform, HeraMED revolutionises the prenatal and postpartum experience, offering a proprietary in-home platform equipped with clinically validated foetal and maternal heart rate monitor HeraBEAT, cloud computing, artificial intelligence, and big data.
HeraCARE itself has been engineered to offer a fully-integrated maternal health ecosystem designed to deliver better care (early detection and prevention of potential risks) at a lower cost, ensure expectant mothers are engaged, informed and well-supported.
For the quarter ended 30 September 2023, HeraMED reported USD $998k cash outflow, primarily attributed to staff and administration costs. This brings the total of cash at the bank to $1.3 million. Despite possible budget constraints for the upcoming quarter, the Company remains positive with the number of accumulated users on the platform now at 2,837, and is open to potential capital raising opportunities to boost cashflow.
Clara is a Business Reporter for The Sentiment.
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