Australia's HeraMED hits record low after losing US hospital partnership

Heramed

19/05/2025 04:53

** Shares of medical data and technology firm HeraMED HMD.AX down 42.1% at A$0.011, after falling as much as 52.6% to record low earlier

** Stock set for biggest one-day drop on record

** Co says U.S. hospital Broward Health will discontinue use of its HeraCARE, a digital maternity monitoring and management platform, due to recent changes in U.S. healthcare policy environment

** HMD says agreement with Broward estimated at $100,000 for this financial year

** Co in commercial discussions with additional strategic partners to expand into other international markets with stable healthcare policy environments

** Trading volume at about 10.9 mln vs 30-day average 555,548 shares

** Stock down 45% YTD

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com))