SYDNEY, AUSTRALIA: HeraMED Limited (ASX:HMD) announced that Mr David Groberman has resigned as Chief Executive Officer and Managing Director with immediate effect.

David will continue in a non-Executive role, as Product Strategist, delivering advice and strategic input on the evolution of the technology.

Chairman, Dr Ron Weinberger, said, “On behalf of the Board and Company, I would like to thank David for his valuable contribution. As a medical engineer by training and the co-founder of HeraMED, David had thevision to transform maternity care globally, and he was instrumental in designing and building the HeraCARE platform and HeraBEAT device.

“With our focus having shifted from technology design, development, and manufacturing to the current focus on commercialisation in the key target markets of Australia and USA, we require a change in leadership skill set that reflect the direction of the business.”

Dr Ron Weinberger will continue as Executive Chairman, leading the commercialisation of HeraCARE until a permanent Managing Director and CEO is found. A search will commence at the appropriate time and further announcements will be made at the appropriate time.

Separately, Mrs Sivan Sadan, formerly HeraMED CFO, has transitioned to a new role as Executive Vice President, Business Development, responsible for the European market, effective today.

Dr Weinberger commented, “Sivan has excellent knowledge of the HeraCARE technology as well as the commercialisation strategy and is very well placed to capitalise on the opportunity to generate sales in Europe, particularly in the Netherlands where there are already several discussions underway.”

The role of CFO will be outsourced to Shimony Finance Partner Mr Ido Toronchik.

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