HeraMED, Fembridge partnership terminated

Wednesday, 12 June, 2024

HeraMED, Fembridge partnership terminated

Medical data and technology company HeraMED Limited has announced the termination of its strategic partnership with US-based Fembridge with immediate effect.

The announcement comes after both parties were unable to reach an agreement on revised commercial terms that align with HeraMED’s new strategic objectives.

The partnership, originally established on 13 March 2024, aimed to develop innovative maternity care solutions for the US market. HeraMED had granted Fembridge broad market exclusivity and had agreed on a monthly retainer fee of US$40,000 for business development, sales and marketing services.

However, following HeraMED’s announcement of a comprehensive Four-Point Strategic Plan and corporate restructuring on 10 May 2024, “it became necessary to revise the partnership terms to include more stringent performance measures and to adjust the market exclusivity terms to better meet the strategic goals of HeraMED”, said the company in a statement.

Anoushka Gungadin, MD and CEO of HeraMED, said, “HeraMED remains committed to delivering innovative healthcare solutions that improve patient outcomes and enhance the quality of care. While the termination of the partnership with Fembridge is disappointing, the company is determined to continue to execute its commercialisation strategy with strategic partners who share its vision and can provide the necessary support to drive the adoption of HeraCARE. We need to ensure we execute commercial agreements that align with the strategic objectives of HeraMED and can provide maximum value to shareholders.”

The company remains committed to expanding its footprint in the US market and will continue to engage with hospital networks and private clinics, Gungadin said.

The successful deployment of HeraCARE within one of the 10 largest public healthcare systems in the United States, is a key step in establishing and validating the model, solution and benefits of HeraCARE in large hospital systems, Gungadin said, noting that the company will also continue to support partnerships such as eLovu Health, which is targeting private clinics on the West Coast.

HeraMED “remains dedicated to expanding its presence not only in the US but also across its target markets in Australia and Europe...”

Image credit: iStock.com/erhui1979

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