Technology developer HeraMed (ASX: HMD) has continued its progression into the Indian market with its pregnancy monitoring devices aimed at improving engagement between pregnant women and medical professionals to improve health monitoring and early risk detection.
The progress sees an extension of a Memorandum of Understanding with Indian distributors Consultus India as well as a purchase order of HeraBEAT units valued at USD $45,000.
“India has a large and growing population and we believe that the Company’s solutions have considerable potential in the country,” said HeraMed CEO and Co-Founder, David Groberman.
“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 purchase order will see HeraBeat devices delivered to hospital networks across India to be used by nurses and physicians.
Partnering with Consultus, HeraMed expects to see improved pregnancy conditions as more women have greater access to information and warning signs where they will able to call for assistance from midwives should it be required 24/7.
“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,” said Consultus CEO, Bharti Goel.
The technology behind HeraBeat has been developed in collaboration with the Mayo Clinic to be modeled on their prenatal care model. Beyond the Indian market, HeraMed has intentions to target the United States where the cumulative costs of childbirth is estimated to be worth more than USD $50 billion annually with 540,000 preterm births each year.