Medical Device Company HeraMED Raises AUS$6 Million in Australian IPO

Israel-based Hera Med Ltd., an early stage company developing connected pregnancy monitoring products for home and professional use, has raised 6 million Australian dollars in its initial public offer on the Australian Securities Exchange, the company announced Tuesday. The company listed through its recently created Australian parent company HeraMED Ltd. ACN.

The company also announced it has received regulatory approval to market its device in Australia, adding to its existing approvals in the European Union and Israel. The company recently signed a $2 million deal to sell the device in Israel with Teva Pharmaceutical Industries Ltd., and intends to launch a cloud-based pilot with U.S.-based Mayo Clinic in early 2019.