Whilst the Government might be making (and subsequently reneging on) policy around prenatal care and IVF visits due to COVID, one company is actually making positive strides ahead.
Medical data and technology company HeraMED (ASX: HMD) is readying themselves for a full commercial rollout of HeraCARE, their prenatal and foetal health monitoring system to expectant mothers receiving services from Joondalup Health Campus (JHC) in Western Australia.
Part of Ramsay Health Care, JHC is a leading hospital in Western Australia with a busy maternity department which cares for 3000 mothers a year.
JHC has already been utilsing the system in a pilot program wherein 100 mums-to-be utilised and reviewed the device. Interim results released in December 2021 were promising
HeraMED’s comprehensive HeraCARE digital health platform and associated foetal and maternal heart rate monitor, HeraBEAT allow for healthcare providers to remotely monitor patients throughout the course of pregnancy. This hybrid maternal health care system has the proven capability to detect issues early, before routine visits reveal them. Both the platform and device are TGA, FDA and CE approved for use.
While traditional maternal health care is high touch between General Practitioner, Obstetrician, Midwives and the patient, the HeraCARE system reduces time in the clinic without compromising on quality of care.
Australia alone spends in excess of $3 billion on maternity services so Medicare coverage may not be as far away as one might think, especially given HeraMED’s preventative approach to maternal care which could reduce cost to the government in the long term.
JHC has committed to continuing their use of HeraCARE for another 12 months with the possibility for contract extension of a further three years. The contract value including SaaS fees is approximately $220,00.
This represents a major win for the Company. The contract will see JHC demonstrate the usability and clinical accuracy of the system to other key opinion leaders, working in HeraMED’s favour as they seek to engage more health care providers and hospitals in paid pilots and ultimately, full commercial rollouts of their system.
CEO and Co-Founder of HeraMED, David Groberman said: “This is a truly significant milestone for HeraMED. I am delighted we have reached this agreement with JHC as it demonstrates that our strategy of delivering clinical validation of the HeraCARE platform, which led to a successful paid pilot, provided the correct foundation for broader commercial rollout of HeraCARE within the hospital. 2022 will be a transformative year for HeraMED as we work towards delivering similar deployments with other key partners.”
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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