Medical data and technology company leading HeraMED Limited (ASX:HMD) has signed 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. Its 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 programme’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 programme 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 six to 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.