HeraMED signs a binding term sheet to supply SaaS-based HeraCARE platform licensing and technology to e-Lōvu Health, a clinically guided digital ecosphere and marketplace in the United States that helps mothers access health and wellness care from preconception to postpartum.
1,000 HeraBEAT smart fetal heart rate monitors and blood pressure cuffs in addition to an unrestricted license for access and utilization of the HeraCARE platform for 1000 pregnancies will be supplied under the terms of the agreement.
The expected revenue to HeraMED from the agreement is approximately US$550,000.
The first e-Lōvu Health partner healthcare provider site is expected to launch before the end of 2022, with a full deployment expected within 6-12 months from signing this agreement.
The project is defined as the initial commercial stage in e-Lōvu Health’s plan to validate their innovative business model and become the leading maternal care solution provider in the US.
HeraMED is pleased to announce the signing of a binding term sheet with e-Lōvu Health, a clinically guided digital ecosphere and marketplace that brings together best of breed technology and services companies on behalf of healthcare providers to revolutionize maternity care in the United States.
With its progressive digital ecosphere approach, e-Lōvu Health brings a new level of service and an innovative business model to the pregnancy and maternity care market in the United States. The company is using a range of proprietary and patent-pending technologies, for which the HeraCARE platform operates as the backbone. Their goal is to improve healthcare access and outcomes for expectant mothers and to optimize operational efficiencies for professional obstetrics health-services providers.
The founding team of e-Lōvu championed the remote maternity strategy within Mednax Inc, including the Virtual OB program’s clinical lead Dr. Santosh Pandapati. Importantly, this business has been established with the blessing and support of Mednax and thus preserves all of the learnings undertaken to date. The Virtual OB program is still operational within Mednax and is actively enrolling patients.
Under the terms of the agreement, 1,000 remote pregnancy monitoring kits including HeraBEATs and bluetooth-connected blood pressure cuffs with HeraCARE connectivity will be supplied to up to 1000 expectant mothers at several identified e-Lōvu Health partner healthcare providers in the United States. The first site is expected to launch before the end of 2022 with an estimated full deployment within 6-12 months from signing this agreement.
e-Lōvu Health will pay HeraMED approximately US$550,000 for a HeraCARE license, the HeraBEAT devices and blood pressure (BP) cuffs for the first 12 months. The project initiation and revenues are subject to eLōvu Health securing the required funding which is anticipated by the end of Q3 this year.
Once the proper technological and logistical infrastructure is laid, tested, and validated along with the innovative business model that e-Lōvu Health is planning to present, the parties plan to enter into a longterm strategic partnership, which is expected to deliver significant growth.
HeraMED CEO and Cofounder, Mr. David Groberman said:
“This formal agreement with e-Lōvu Health is an incredibly important milestone for HeraMED and is the result of a high level of cooperation, trust, in addition to shared values and mission. The deal clearly validates the advantages of our technology and business model, and officially launches our commercialisation into the United States market. We are thrilled with the continued ability of HeraMED’s technology to gain traction with such experienced medical service providers. With e-Lōvu Health’s exceptional team and their deep understanding of the US healthcare market, commercial and business expertise, and operational competence, we see great potential in this strategic partnership. I want to take this opportunity to thank key members of the HeraMED senior management team, led by our CFO Sivan Sadan and Head of the US Operations Nicole Zappala, for their efforts in progressing the deal with e-Lōvu Health. We look forward to announcing further commercial progress deals over the coming months.”
e-Lōvu Health Chief Medical Officer, Santosh Pandipati said:
“We are very excited to make our growing partnership with HeraMED official. Their state-of-the-art technology and laser focus on both patient and care team experience, plus impactful implementation is what we need to realize our vision at e-Lōvu Health. Pregnant moms love using HeraCARE and HeraBEAT and importantly, when combined with other key vital measurements, the program works wonders. With HeraCARE, we are able to deliver patients and care teams the information each member of the care continuum need, exactly when they need it. As a provider myself, that’s the quality of care I want to provide and can be proud of.”
e-Lōvu Health CEO Noel Pugh said:
“e-Lōvu Health is beyond thrilled to partner with HeraMED. HeraMED’s HeraCARE platform coupled with the simplicity of the HeraBEAT smart Fetal HR monitor will serve as the cornerstone of our digital healthcare ecosphere. We believe that together we can transform the American delivery system and change the way expectant moms, their families, and care teams experience prenatal care.”