Special Report: HeraMED has signed a Letter of Intent (LOI) with US maternity telehealth service, Teleperinatal, which will see the HeraCARE maternal care app and the HeraBEAT smart foetal HR monitor deployed for a six-month paid pilot.

Medical tech company HeraMED (ASX:HMD) has signed an agreement with Teleperinatal, a US maternity telehealth service provider, to see its services included as part of a six-month paid trial.

Following the initial trial, both parties intend to progress to a formal commercial agreement for the HeraCARE mobile maternal care app and the HeraBEAT smart foetal HR monitor.

Teleperinatal provides a maternity benefits program for employers which aims to reduce the cost of pregnancy care by giving employees direct access to physicians throughout the pregnancy and postpartum period.

Teleperinatal has already secured several contracts and aims to care for 500,000 lives by the end of 2021, which may include 10,000 pregnant women.

HeraMED’s partnership with Teleperinatal gives it an important connection to the lucrative US employee benefits industry. Teleperinatal will launch in the first quarter of 2021, and is sold direct-to-employer, with an initial focus on Fortune 500 Companies.

A focus on growth

HeraMED US general manager of operations, Alex Radke, said the agreement was a significant step in the company’s ongoing plan to establish business-to-business partnerships for future growth.

“I am delighted to have agreed key terms for this partnership with Teleperinatal as they represent an exciting new entrant in the maternal telehealth market. I am confident that this represents the start of a long-standing partnership between HeraMED and Teleperinatal as we share the same vision to deliver improved virtual maternity care,” said Radke.

HeraMED has a roadmap for growth through establishing relationships with key medical opinion leaders and forward-thinking medical operators. The company recently announced a partnership with US telehealth company eCare21 and outstanding results in a clinical study for the HeraBEAT monitoring device.

Teleperinatal founder and CEO, Dr Sina Haeri, said the two businesses were natural partners.

“Our focus is on providing employees with access to world-class concierge level virtual care with a maternity advocate at their side the entire pregnancy and we believe the HeraCARE platform and HeraBEAT device represent a highly relevant fit for our program.”

Telehealth during COVID-19

Telehealth has seen a surge during the COVID-19 pandemic and with conditions continuing in the US, experts are predicting ongoing growth in the industry.

HeraMED is well-positioned to make the most of this adoption and deliver high-quality prenatal and postpartum care. HeraMED continues to receive significant interest from prospects around the world.

Under the terms of the HeraMED agreement, Teleperinatal will pay a licence fee for the HeraCARE platform of US$5 per month per active user and offer the HeraBEAT device for an additional US$29 monthly fee.

This article was developed in collaboration with HeraMED Limited, 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.