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HeraMED Limited (ASX: HMD) is an innovative medical technology company. It is into providing pregnancy monitoring solutions for home and professional use. The company cooperates with expecting parents, offer solutions related to problems associated with the reliability of pre-natal analysis.
The company today, on 11th April 2019, announced that it had made an entry in the United Kingdom after the launch of its dedicated business to consumer website (www.herabeat.co.uk). The launch was greeted with positive feedback from senior medical executives, hospitals and consumers in the United Kingdom and Israel.
By expanding into the United Kingdom market, the company is able to find its way to the largest addressable market that HeraMED currently has exposure to. The United Kingdom has ~770,000 births per annum, and hence an entry in such a huge market will also ensure a strong foundation for growth throughout Europe.
The company is decisive about the progress in the United Kingdom expansion initiatives after it has received positive feedback from discussions with a range of senior obstetricians and gynaecologists at both private hospitals and medical institutions that are part of the UKâs National Health Service. It has undertaken several meetings and product trials within the medical community in the United Kingdom and is confident of endorsement of the product and its potential success in the region.
Further, the company was successful in establishing a qualified logistics partner, as well as a digital marketing agency for enhancing growth during an initial soft launch phase. It will advance discussions with medical institutions, private hospitals and government organisations to progress its âtop-downâ strategy throughout the United Kingdom and Europe more broadly. The company will aim to establish a pilot trial with a hospital in the UK and pursue agreements with distribution partners in the region.
HeraMED expects to update the shareholders accordingly with these developments as it materialises. The company is confident that its strategy and product offering have the support necessary to progress with the international expansion after it has received testimonials from consumers in Israel and the broader medical community. HeraMED believes that it has built and refined a cost-effective marketing and branding strategy, which can be used in other countries without much change.
The CEO and Co-founder of the company, Mr. David Groberman said that the entry in the United Kingdom is a triumph for the company since the region represents the largest addressable market of the company till now, and it also provides the company with several potential growth opportunities via private hospitals and other medical organisations.
The company has received positive feedback about the HeraBEAT device from consumers, doctors and medical institutions, although it is in the preliminary stage. This gives the company an opportunity to be well placed ahead of scale up and broader commercialisation across the region. Moreover, the companyâs discussions are in progress with several parties for its expansion globally.
On the stock performance front, the stock of HeraMED is currently trading at $0.235, with a market capitalisation of $20.57 million (on 11th April 2019 AEST 02:26 PM). It has generated a YTD return of 34.29% and has an average trading volume of 153,253.
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