HeraMED terminates partnership with Fembridge

HeraMED Limited (ASX: $HMD) has announced the immediate termination of its partnership with US-based Fembridge (FB) following the inability of both parties to agree on revised commercial terms. The termination comes after HeraMED's recent announcement of a Four-Point Strategic Plan and new leadership on 10 May 2024.

Executive Commentary on Termination of Partnership

Anoushka Gungadin, MD & CEO of HeraMED, expressed disappointment over the termination of the partnership with Fembridge. She emphasized HeraMED's commitment to delivering innovative healthcare solutions and its determination to continue executing its commercialization strategy with strategic partners aligned with its vision and objectives. Anoushka Gungadin also highlighted the company's focus on expanding its footprint in the US market and engaging with hospital networks and private clinics, as well as supporting partnerships targeting private clinics on the West coast.

Summary of Termination and Future Strategy

HeraMED (ASX: $HMD) terminated its partnership with Fembridge due to the inability to reach agreement on revised commercial terms. The company remains committed to delivering innovative healthcare solutions and executing its commercialization strategy with strategic partners aligned with its vision. HeraMED will continue to expand its footprint in the US market, engage with hospital networks and private clinics, and support partnerships targeting private clinics on the West coast. Additionally, the company is pursuing opportunities in Australia, the US, and Europe, with advancements and an expanding pipeline of hospitals, clinics, and strategic partnerships currently under discussion in each target market.