HeraMED progresses market entry for HeraBEAT and HeraCARE in India

ID: 1553395
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(businesspress24) -
- Second order received for HeraBEAT devices for use in India - monitors to be used in hospitals and clinics nationwide

- Order marks HMDs first reorder - follows rigorous clinical evaluation from healthcare professionals in India and provides validation of HMDs top down marketing approach

- Memorandum of Understanding with Consultus India extended to include HeraCARE platform cooperation

- HeraBEAT to be offered to pregnant women in hospitals for home use - HeraCARE solution to be introduced to accompany devices following completion

- HeraMED and Consultus to simultaneously progress HeraCARE pilot trials, beta testing and launch in India alongside the HeraBEAT offering

25 October 2019 - Medical technology company, HeraMED Limited (ASX:HMD) (HeraMED or the Company) is pleased to advise that it has extended its Memorandum of Understanding (MOU) with Consultus India (Consultus) to support the launch of HeraMEDs Software as a Service (SaaS) based platform HeraCARE in India. HeraMED also received a purchase order (PO) valued at US$45,000 for HeraBEAT units, marking the Companys first repeat order from a distributor.

The HeraBEAT devices are scheduled to be delivered to hospital networks across India and will be used by nurses and physicians. The devices will also be offered to pregnant women for use in the home during the pregnancy journey.

The purchase order was received from HeraMEDs Indian partner and distributor Consultus and will be sold under the HER Healthcare (HER) brand. HER is focused on introducing holistic and innovative healthcare products to Indian women. It delivers solutions that will assist women in safer, healthier and happier pregnancy journeys.

The PO marks the Companys first repeat order from a distributor. It follows rigorous due diligence and extensive clinical evaluations from HER personnel and medical professionals. Receiving a second order for the Companys product validates HeraMEDs solution and its potential in India, particularly for use in the medical and healthcare industries. The order also provides HeraMED a more convenient access point to introduce HeraCARE when applicable.



Consultus is a leading marketer and consultant of consumer medical devices. HeraMED secured an initial MOU with Consultus in July 2018 to launch HeraBEAT in India. In the time since, HeraMED has considerably progressed its HeraCARE solution and after some negotiations, extended its MOU to include a pilot program for the launch of the HeraCARE solution in India via hospitals and medical organisations.

The Company envisages that these initiatives will be similar to what is being undertaken in Brazil with Hapvida Saude (refer ASX announcement: 14 February 2019).

Following the introduction of HeraBEAT to hospital networks in India, HeraMED and Consultus are confident that HeraCARE can be easily introduced as a complementary service.

MOU terms and termination:
Consultus and HeraMED will collaborate and identify potential partners to undertake pilot trials and beta test HeraCARE. Following mutual assessment during the term of the MOU and should both parties agree, they will enter into a binding agreement for the licensing, sale and distribution of the Products within India (Definitive Contract). The term of the MOU shall now automatically expire on 31 December 2020 unless the parties enter into a Definitive Contract or either party provides 30 days final written notice should the other party fail to meet and fix one of his commitments.

CEO and Cofounder Mr David Groberman said: India has a large and growing population and we believe that the Companys solutions have considerable potential in the country. The economical, political and medical landscape in India strongly supports and promotes digital health tools and home monitoring solutions. These solutions can help solve major challenges associated with significant birth rate growth and the lack of medical resources. The Companys prospects in the country are not only evident in the second purchase order for our HeraBEAT device, but also in expanding the scope of our existing MOU with Consultus to include HeraCARE.

Management will work with Consultus and HER collectively to progress clinical evaluations, pilot trials and beta testing of both of the Companys solutions across India. Board and management look forward to updating shareholders as these opportunities advance.

Bharti Goel, CEO of Consultus added: Consultus India is a New Delhi based firm, specialising in healthcare products for women, through its brand h3 (H-cube), short form for Her Healthcare at Home. Our vision is to expand H-cube into a 360-degree home care company for women in India. As a first step, H-cube has focused itself on pregnancy care and monitoring solutions.

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. We are, therefore, very pleased to renew our MOU with HeraMED and look forward to a long-term business relationship with HeraMED''s team.

With over 28 million pregnancies every year in India, and a growing upper middle class living in the urban areas, we are confident in our ability to materialize the substantial market potential with a unique high-quality product such as HeraBEAT."

-ENDS-

HeraMED Limited
CEO and Co-Founder
David Groberman
M: +972-52-6991188
E: David(at)hera-med.com

Company Secretary
Stephen Buckley
T: +61 (0)8 6189 1155
E: stephen(at)companysecsol.com.au

HeraMED Limited
ACN 626 295 314
T: +61 8 6189 1155 | A: Level 2, 46-50 Kings Park Road, West Perth WA 6005

Released through: Henry Jordan, Six Degrees Investor Relations, +61 431 271 538

About HeraCARE:

HeraCARE is HeraMEDs Digital Pregnancy Monitoring, software-as-a-service (SaaS) platform that is being co-developed with the Mayo clinic for both home and professional use.

View the video here: https://www.youtube.com/watch?v=EURBnVMb6Gg&t=5s
ASX draft - Market entry for HeraBEAT and HeraCARE Progresses in India_De_PRcom.001


Primary features:

- Continuous home measurements and self-monitoring improving pregnancy care.
- Personalised pregnancy education creating awareness and mother empowerment in preparation for childbirth.
- Pregnancy lifestyle guidance promoting healthy nutrition and exercise.
- 24/7 midwifery consultancy answering any concerns and enabling early detection of pregnancy complications.
- Online social support reducing stress and sharing experiences between expecting mothers.

About HeraMED Limited (ASX:HMD):

HeraMED is an innovative medical Data and Technology company leading the digital transformation of prenatal care. HeraMED utilizes the digital health ecosystem including clinical home monitoring devices, cloud computing, artificial intelligence, big data and digital social networking to reshape the Doctor/Patient relationship. The company is revolutionizing the pregnancy experience by empowering personalized, continuous and proactive home monitoring, to deliver better care at a lower cost. Keeping pregnant mothers engaged, informed and well-supported provides reassurance and peace of mind while allowing the healthcare providers to work at their highest levels of ability and enabling early detection of potential risks.




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Date: 10/25/2019 - 07:18
Language: English
News-ID 1553395
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