HeraMED Limited Secures Additional $1 Million Capital to Advance Maternity Care Solutions

Highlights:

• Capital Boost for Expansion: HeraMED Limited (ASX: HMD) secures an additional $1.02 million through a private placement at 1.7 cents per share, strengthening its financial position to accelerate growth in maternity care technology.
• Enhanced Funding Strategy: With this capital, HeraMED aims to advance its HeraCARE platform and invest in a non-dilutive growth strategy, focusing on obtaining grants and research partnerships in Australia, the U.S., and Europe.
• Shareholder Approval and Key Dates: The placement is subject to shareholder approval at the upcoming EGM on December 12, 2024, with trading of the new shares expected to commence on December 17, 2024.

HeraMED Limited (ASX: HMD), a prominent medical data and technology company focused on digital maternity care, has accepted an investment offer of $1.02 million (before costs) through a private placement from three institutional investors, marking another significant capital raise for the company. This placement, subject to shareholder approval, follows HeraMED’s recent fundraising efforts and underscores the growing interest in its mission to transform maternal healthcare.

The placement involves issuing 60 million new ordinary shares at 1.7 cents per share, representing a 19% discount to the 15-day VWAP of 2.1 cents at the time of writing. The funds raised are anticipated to strengthen HeraMED’s financial position, facilitating an accelerated rollout of its strategic initiatives, especially those focused on non-dilutive growth through grants and partnerships.

Supporting Strategic Growth and Innovation in Maternal Health

CEO Anoushka Gungadin emphasized the transformative nature of this capital raise: “This investment not only provides us with the additional capital to drive growth but also validates our commitment to delivering positive social impact in the healthcare sector. HeraCARE’s expanding evidence base reinforces its potential to address critical challenges in healthcare accessibility, workforce limitations, and escalating costs.”

HeraMED intends to utilize the funds to further its commercialization strategy, particularly through HeraCARE, while enhancing its ability to secure grants and build sustainable, non-dilutive funding sources. The company aims to invest in dedicated resources to increase its likelihood of obtaining government and industry grants, which are seeing significant growth in value, especially in the fields of remote maternity care across Australia, the U.S., and Europe.

About the Placement

The recent $1.02 million investment aligns with HeraMED’s October capital raise and is expected to receive formal shareholder approval at the upcoming Extraordinary General Meeting (EGM) scheduled for December 12, 2024. Westar Capital Limited is managing the placement and will receive a 6% capital raising fee upon its completion. The capital raise not only enhances HeraMED’s funding capabilities but also strategically positions the company to scale its remote maternity care solutions across various communities, furthering its mission of improving maternal health outcomes.

This additional funding is set to empower HeraMED to drive meaningful advancements in maternity care technology and expand its footprint in a sector where innovative solutions are critically needed.

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