ASX health stocks (XHJ index) are down .99% today but faring better than the ASX 200 which has fallen sharply at 1.5%.

The HeraMED (ASX:HMD) share price rallied 6.9% to 31 cents in early morning trade before settling ~3.45% as the company announced it had entered into a long-term agreement with Joondalup Health Campus in Western Australia to offer its HeraCARE pregnancy monitoring solution to expectant mothers.

The contract value for the first 12 months is ~$220,000. JHC (part of Ramsay Health Care ASX:RHC) is one of WA’s largest hospitals and maternity care providers.

JHC is the first major healthcare group to adopt the HeraCARE virtual and remote monitoring solution as part of their care models for pregnant mothers. It reduces the need for women to attend antenatal appointments so frequently unless any complication is detected.


IVF to resume in Victoria

Continuing on the baby theme Victorian couples longing to start or continue the arduous journey to have a baby through IVF can do so with the procedure resuming today. Spiking COVID-19 hospitalisations put a halt to IVF in Victoria. In an announcement Virtus Health ASX:VRT CEO Kate Munnings said news of the resumption of IVF procedures was “tremendous news”. Virtus shares were up around ~.97% this morning to $7.27.

The news ends a good week for Virtus with its share price jumping more than 8% to $7.24 yesterday after the company announced it had received a takeover bid from equity house CapVest Partners.

With a market cap of ~$570 million, CapVest has offered to acquire 100% of Virtus at $7.60 per share.

LGP enters distribution deal

Little Green Pharma (ASX:LGP) has signed a four-year agreement with PharmaServe for the exclusive distribution of its branded oil medicines and cannabis in Greece.

The deal adds a new territory to LPG’s EU distribution portfolio and represents the company’s first agreement for the supply of products from LPG’s new Danish facility outside Australia and Denmark.

PharmaServe has operated as a distributor of pharmaceutical and healthcare products in Greece since 1984 and is expected to be one of the first to apply for medicinal cannabis marketing authorisation in Greece.

LPG’s CEO Fleta Solomon said the agreement is part of the company’s plan to “grow significant market shares in key markets across the EU”.

Imugene search for new CMO

The chief medical officer of clinical stage immuno-onocology company Imugene Limited (ASX:IMU) Dr Rita Laeufle will retire at the end of January.

The company said Laeufle had played an important role in advancing Imugene’s clinical efforts. It is in final negotiations to bring in a high calibre oncologist and clinical developer as a CMO to strengthen its executive team.