Support is a fundamental need for all, but surprisingly lacking in most spheres of life.
Pregnant women worldwide are often left to their own devices when it comes to navigating healthcare during pregnancy. Alone, they navigate the emotional and physical rollercoaster, with many Aussie women admitting to feeling distressed citing lack of support and knowledge. Though women’s healthcare at large has often been placed on the backburner, some companies like MedTech company HeraMed (ASX: HMD) have been working to change that.
With HeraCARE—a pregnancy monitoring platform, the Company gives women and health practitioners access to real-time data driven support through their prenatal and postnatal phases.
And to make sure it’s accessible, it has signed a binding three-year agreement with the Perth-based Joondalup Obstetrics and Gynaecology Group (JOGG) to deploy HeraCARE for 120 pregnancies annually. The agreement includes an initial purchase of 120 HeraCARE licences and HeraBEAT devices in the first 12 months. An immediate deployment is planned as part of the new standard of care for the Group.
The private practice group comprises Senior Obstetricians, including Dr Mike Kamara, and offers a range of private and public obstetric services across Joondalup Private Hospital, Joondalup Health Campus, and Fiona Stanley Hospital.
HeraMED Director of Strategic Partnerships, Australia & New Zealand, Anoushka Gungadin, said, “The deployment of HeraCARE amongst private practice groups represents an important pillar in our go-to-market and engagement strategy, and we welcome the addition of JOGG as our latest partner. I am delighted to be working with Dr Kamara who shares our passion of delivering a mother-centered experience in a collaborative continuous model of care.”
HeraMED collaborates with private obstetrics clinics, which are crucial stakeholders and influencers in the private healthcare sector. By partnering with these clinics, the Company improves its solutions to better meet the needs of the demographic they serve, gain additional insights from a different data point, and identify and address any gaps in the healthcare system.
Private OB clinics are increasingly adopting HeraMED’s technology solution to enhance their care and operational efficiency. The benefits include personalized remote monitoring for pregnant women, reducing in-person visits and incorporating telehealth and virtual meetings. This approach increases patient capacity, satisfaction, and maintains a high standard of care.
JOGG partner and obstetrician, Dr Mike Kamara, added, “One of the principal reasons that we began our private practice in 2021 was to offer pregnant women continuity of care throughout their pregnancy. The HeraCARE technology represents a significant improvement to this offering as it will be the first time that we can offer remote monitoring of the fetal heart rate as well as several other important indicators, all supported by the HeraCARE platform and regular telehealth appointments.”
HeraMED’s real-time data-sharing and smart alerts enable close monitoring, early identification of complications, optimized treatment plans, and improved patient outcomes. Clinics gain a marketing advantage by offering advanced remote pregnancy monitoring, attracting new clients and potentially increasing revenues. The RPM and telehealth capabilities optimize productivity, saving time for doctors and staff while maintaining high-quality care and enhancing clinic profitability.
In Q3 FY23, the Company’s cash balance was $2.6 million, with net cash used in operating activities amounting to $1.09 million, compared to about $1.18 million in the previous quarter. Even as staff and production costs remain high, the Company is counting on its partnerships to rake in the dough.
Alinda is a Business Reporter for The Sentiment
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