Bringing telehealth to expectant mothers that will rival major hospital facilities, medtech company HeraMED (ASX: HMD) is taking a significant step forward in the commercialisation of their foetal monitoring device. As part of their Technology as a Service (TaaS) recurring revenue model, the Company has entered into an agreement with Joondalup Health Campus (JHC) which will trial the device for 100 mums-to-be. The news comes after a successful clinical study of the HeraBEAT device done at JHC with results bolstering the device’s clinical and functional validity.
JHC is part of Ramsay Health Care and is one of Western Australia’s largest hospitals and a leading maternity care service provider to an average of 3000 expectant mothers every year.
JHC has agreed to an initial paid pilot of the HeraBEAT device with 100 expectant mothers at $50 per user per month.
Once the pilot has been successfully completed, JHC and HeraMED will enter into further discussions for full integration of the HeraCARE platform to become standard at JHC.
HeraMED’s device (HeraBEAT) is a foetal and maternal heart rate monitor that forms an essential part of the Company’s comprehensive digital health platform, HeraCARE. The system is a hybrid maternity care solution and allows healthcare providers to remotely monitor patients. The platform has the capability to detect issues early, rather than traditionally waiting for reexamination on routine visits.
The platform and associated device has been TGA (Australia), FDA (America) and CE (Europe) approved for use.
HeraCARE aims to deliver high-quality prenatal and postpartum care to increase the safety and effectiveness of maternity care. The Company utilises both hardware and software to process data and deliver optimal patient outcomes.
Maternal care is high touch between patient, obstetrician, GP and midwives. The HeraCARE system offers a fully integrated maternal health solution that has the potential to deliver this high-touch care at a lower cost. This could allow expansion of clinical services capacity to women who may otherwise not be able to afford or access it.
HeraMED’s suite of technologies could very well be the future of maternity care since the total government expenditure on maternity services per year in Australia is well over $3 billion.
Results of JHC’s initial paid pilot are expected in 6 months.