HeraMED (ASX: HMD) is adjusting its US market strategy following Broward Health’s decision to discontinue using HeraCARE, despite positive maternal-fetal outcomes. This decision was influenced by changes in the US healthcare policy landscape, including Medicaid budget restructuring. The average annual cut to the Medicaid budget is anticipated to be approximately $70 billion per annum, more than ten times larger than any previous annual cut made to the program. To navigate these challenges, HeraMED has appointed Aspire Health Innovations, a US-based healthcare commercialisation firm, to accelerate its go-to-market strategy. Aspire, comprised of over 30 senior partners with extensive healthcare experience, will assist in strategic planning and optimising HeraMED’s approach.
In addition, Jeff Garibaldi has been appointed as Chief Growth Officer US. Garibaldi brings 35 years of healthcare leadership experience, including a $450M NASDAQ IPO exit and over $500M in global healthcare solution revenues. HeraMED reports that HeraCARE has demonstrated significant clinical value, including a reduction in pre-term births and early detection of pregnancy complications.
The company is also exploring opportunities in international markets with stable healthcare policies. HeraMED is working with ANDHealth in Australia to explore commercialisation opportunities. The company is refining its cost base to support its refocused growth strategy. HeraMED continues to advance existing and new opportunities, including health systems which serve all population segments in the US.
