HeraMED signs paid pilot with Obstetrix Medical Group, providers of care and diagnostics to 1 in 4 babies born in US
Health & Biotech
Health & Biotech
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Medtech HeraMED has announced a significant partnership with one of the leading providers of women’s and children’s healthcare in the US.
HeraMED (ASX:HMD) has secured a landmark commercial agreement with Obstetrix Medical Group, an affiliate of Mednax, leaders in women’s and children’s healthcare that provide vital care or diagnostics to an incredible one in four babies across the US.
Mednax, listed on the New York Stock Exchange, with a market capitalisation of over US$2.2 billion, is one of the largest providers of women’s and children’s physician services in the US via its network of over 2,300 physicians in 39 states and Puerto Rico.
Initially, the agreement includes a paid pilot with 100 expectant mothers to be undertaken by Obstetrix Medical Group, a provider of obstetric and maternal-foetal services. This will be followed by Obstetrix Medical Group and HeraMED seeking to enter into a comprehensive agreement for wider deployment and scaled commercial implementation.
Obstetrix Medical Group will license the hardware and software from HeraMED on a SaaS-based model for the pilot.
Growing the SaaS model
This is the second major commercial deal for HeraMED, following a partnership announced in April with Joondalup Health Campus in Western Australia, and signifies a significant step forward in the medtech provider’s commercial strategy of rolling its SaaS product out through partnerships with leading healthcare providers.
HeraMED already has existing connections to Mayo Clinic in the US and Sheba Medical Centre in Israel.
CEO and co-founder, David Groberman, said the agreement was an incredible step in HeraMED’s growth strategy.
“We are delighted to have signed our first pilot agreement in the US with a company of such significant status and scale. As a physician-led national medical group that partners with hospitals, health systems and health care facilities, focused exclusively on women’s and children’s care, Obstetrix Medical Group is a highly relevant partner and very well placed to support our commercialisation strategy.”
“Our focus remains on progressing the growing pipeline of potential partnerships, and HeraMED is well placed to capitalise on these opportunities and will update the market at the appropriate time,” he said.
Santosh Pandipati, M.D., maternal-foetal medicine specialist at Obstetrix Medical Group of San Jose, said: “We are looking forward to incorporating the HeraCARE platform into our health care management programs for pregnant women.
“The launch of this pilot program will determine the feasibility of implementing a new pregnancy care delivery ecosystem centred around pregnancy wellness and patient empowerment.
“By applying the lessons learned from the COVID-19 pandemic through the integration of Obstetrix Medical Group’s clinical services with HeraMED’s pregnancy monitoring systems, together we aim to innovate the prenatal care landscape by fundamentally changing the care delivery paradigm for prenatal patients.”
Over the last month, HeraMED’s share price has skyrocketed by 65%, representing the strong response from the market to the company’s progress in commercialising its unique technology.
The business plans to grow its SaaS income, demonstrating recurring revenue and ongoing partnerships with medical providers.
This article was developed in collaboration with HeraMED, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.