- HeraMED and partner Consultus India have extended their MOU to support the launch of the HeraCARE platform
- HeraCARE is a pregnancy monitoring device that gives online education and support to expecting mothers
- The partners believe there is great potential for the product in India where there are roughly 28 million pregnancies every year
- Consultus has also made a second order of $66,000 for HeraMED’s HeraBEAT device
- The companies plan to take on pilot trials and testing to progress HeraCARE further
- HeraMED’s shares are up 6.06 per cent, with shares trading at 17.5 cents apiece
HeraMED has extended its memorandum of understanding (MoU) with Consultus India to support the launch of its HeraCARE platform.
Consultus markets consumer medical devices in India. HeraMED secured an initial MoU in July of last year to launch HeraBEAT in India.
Since then, the company has progressed HeraCARE and has negotiated a pilot program to launch the platform across hospitals and medical organisations in India.
HeraCARE is a digital pregnancy monitoring software-as-a-service (SaaS) platform that is being co-developed with the Mayo clinic for home and professional use.
Its features include personalised pregnancy education to create awareness and empower soon-to-be mothers, 24/7 midwifery consultancy, and online social support.
There are reportedly over 28 million pregnancies in India every year and a growing upper middle class living in urban areas.
“India has a large and growing population and we believe that the company’s solutions have considerable potential in the country,” HeraMED CEO and Co-founder David Groberman said.
Consultus and HeraMED will collaborate and find suitable partners to undertake the pilot trials and beta test HeraCARE.
The term of the MoU will expire on December 31 2020 unless the the companies choose otherwise. If both parties agree, they well then enter a binding agreement for the licensing, sale, and distribution of the products within India.
Additionally, HeraMED has also received a repeat order from Consultus for HeraBEAT units which is valued at A$66,000.
The HeraBEAT heart monitor devices are scheduled to be delivered to hospital networks across India. The devices will also be offered to pregnant women for home use.
“For over a year, we have done a detailed study of the Indian market, conducted technical pilot trials at leading maternity clinics and interacted with specialists in the field of gynaecology and obstetrics,” Consultus CEO Bharti Goel said.
“We are, therefore, very pleased to renew our MoU with HeraMED and look forward to a long-term business relationship with HeraMED’s team,” Bharti continued.
HeraMED’s shares are up 6.06 per cent, with shares trading at 17.5 cents apiece as at 10:05 am AEDT.