HeraMED teams up with eCare21 to deliver smart solution for in-home maternity care to US patients
Funds raised via the IPO will be used to accelerate commercialisation of HeraBEAT in Israel, followed by UK and Germany.
Maternity-focused technology start-up HeraMED (ASX: HMD) has signed an agreement with US virtual care provider eCare21 to integrate its smart pregnancy monitoring solutions into eCare21’s software-as-a-service (SaaS) platform.
Under the agreement, the digital HeraCARE platform – including the clinically-validated, in-home foetal and maternal heart rate monitor HeraBEAT – will be fully integrated into eCare21’s platform designed to automate the management of chronic health conditions such as hypertension, diabetes, obesity and asthma which require ongoing monitoring of patient data.
The collaboration represents progress in HeraMED’s execution of its US commercialisation strategy aimed at accessing healthcare providers with telehealth and remote patient monitoring experience.
The integrated solution is expected to accelerate awareness and uptake of HeraCARE and HeraBEAT in the US while simplifying the deployment of virtual care for maternity patients and providers.
The US represents a potentially-large addressable market, boasting up to 4 million pregnancies annually.
The solution is expected to be available by year end.
Market opportunity
HeraMED chief executive officer David Groberman said this year’s global pandemic has presented a “unique market opportunity” to fast-track the adoption of digital health in maternity care.
“We are well-placed to deliver high-quality, prenatal and postpartum care to improve the safety, efficiency and cost of maternal healthcare,” he said.
“The integration of HeraCARE into eCare21’s platform is expected to result in a rapid take up of HeraCARE across healthcare providers.”
HeraMED continues to receive interest from parties worldwide and is able to capitalise on new opportunities.
“We are confident that the eCare21 platform – combined with our unique and proprietary pregnancy monitoring solutions – will create one of the best connected health solutions on the market,” Mr Groberman said.
Virtual care platform
eCare21 is an established virtual care platform powered by Dell Technologies, which combines telehealth and remote patient monitoring into an integrated SaaS solution.
Patients who subscribe to the platform can access in-home care for chronic conditions while their healthcare providers can view patient medical data to enable better overall care and help avert acute medical events.