ASX Health Stocks: All about closing deals this morning as HeraMED and Careteq sign new contracts
Health & Biotech
Health & Biotech
Medtech company HeraMED (ASX:HMD) says its strategic partner E-Lōvu Health has signed its first three-year commercial agreement following a successful pilot.
The deal was signed with Caduceus Medical Group, a company based out of Southern California.
Two further pilot programs have also been executed by E-Lōvu with two leading private clinics on the US west coast.
The first with Dr Luba Foltz from Seattle Obstetrics and Gynaecology Group, and the second with Dr Suzanne Ramos, Santa Barbara.
These three agreements have combined total patient volumes of between 1,000 and 1,400 pregnancies per year, and are scheduled to go live in July.
E-Lōvu is a marketplace that helps mothers access health and wellness care from preconception to postpartum.
HeraMED signed a deal with E-Lōvu in 2022, under which 1,000 HeraBEAT smart foetal heart rate monitors and blood pressure cuffs would be supplied.
The health tech company focusing on elderly, disabled and vulnerable individuals, Careteq (ASX:CTQ), has signed an agreement with National Seniors Australia (NSA).
Under the exclusive deal, the NSA will promote and market Careteq’s Assistive Living Technology solutions through its large network targeting the over 50s.
Careteq’s solutions will be promoted across NSA’s online and offline channels, where members will receive an exclusive discount on the product.
NSA is a non-profit and is Australia’s leading advocacy group for people aged over 50 with a digital audience reach of 1.4 million annually.
The deal will have no upfront costs, and Careteq will pay NSA a one-off commission on every device sold through the marketing campaign.
Careteq believes the deal has the potential to generate significant recurring revenues through this referral partnership from the sale of TEQ-Secure, TEQ-FallsAlert and other solutions.