Conversation 173: The 1 - 2 - 3 of digital health and where HeraMED currently sits.
Doing anything for the first time can nerve racking.
But when that ‘first time’ experience is having a child, the multiplying effect of is incredible. [Personal experience talking]
That is what makes the potential of an AI driven Software as a Service [SaaS] system like HeraMED, so interesting.
HeraMED [ASX:HMD] has developed an innovative, connected pregnancy monitoring solution called HeraBEAT that is designed to provide accurate, scientifically optimised data about a mother and unborn child.
As you can see from the pack shot, the user can see the monitoring results on their smart phone.
But the real potential lies in the back end and the way it ties health professionals, patients and a sophisticated AI system called Orion, together.
The prestigious Mayo Clinic joined forces with HeraMED to co-develop the new platform based on their OB Nest project. OB Nest is a prenatal care AI service model that was designed in collaboration with the clinics Department of Obstetrics and Gynaecology, and the centre for the Science of Healthcare Delivery.
OB Nest has been clinically studied and validated over 5 years of research resulting in a number of key findings that should resonate with the OBGYN CROWD like a reduction in care visits from 14 > 8, lowered pregnancy stress down from 1.41 > 1.34 and an improved patient satisfaction rating of 77% > 95%.
Traditional digital health has three basic stages.
Develop a product that solves a problem.
Clinically prove that it works.
Sell it based on that clinical proof.
HeramMED [ASX:HMD] deviated from the above process, initially skipping stage two and going straight to a less regulated business to consumer model. HeraBEAT is FDA and EU approved as a medical device.
But HeraMED has now decided that the best course of large scale commercial success is to convince medical clinicians and doctors that the system offers them something substantial.
If they can achieve this, HeraBeat and the Mayo Clinic’s Orion AI will be fed out through clinicians and the haol effect that creates.
But to do this, HeraMED needs stage two to prove it’s worth and accuracy via clinical studies.
The first such study is being done in Western Australia at the well respected Joondalup Health Campus.
The results of that 80 person study should be out in the next couple of weeks and If these results prove positive, Alexander Radke, HeraMED’s recently appointed General Manager for the Unites States, told me it will open the door to an exciting period for HeraMED.
CONVERSATION 172: ALEXANDER RADKE
CONVERSATION WITH CEO OF HERAMED ONE YEAR AGO
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SOME OF THE RECENT MARKET ANNOUNCEMENTS BY HERAMED:
Partnership with leading virtual care platform eCare21 in US
Enrolment in the Clinical Study at Joondalup Health Campus completed ahead of
TECHNOLOGY AND COMMERCIAL READINESS.
Based on the Technology Readiness Level [TRL] developed by NASA and the Commercial Readiness Index [CRI] that grew out of it. HeraMED would fit somewhere around 8 on NTR and 2 on the CRI.
SOME RATINGS FOR HERAMED [ASX:HMD]
[CURRENT ON FRIDAY 18H SEPTEMBER 2020]
Morningstar Quantitative [algorithmic] Rating *
Valuation Rating: Undervalued Fair Value Estimate: 0.263 Fair Value Percentage Diff: 39.09% Liquidity: High
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