It sounds great, for Fembridge, and its goodbye to our own US president, Keefy...
Could be a goldmine, eventually, with 130,000 births under their control, but its going to cost us around $500,000 p.a. just to keep this agreement up? I dont get it yet, a few more reads maybe...
Just an opinion,
TCG
About the agreement
- Retainer - HeraMED will pay FemBridge US$40,000 per calendar month for provision of business development, sales, and marketing services.
- HeraMED will reimburse FemBridge $7,083 per month for the salary of employing to employ a fulltime Sales Executive to market the FemBridge/HeraMED solution.
- Performance Milestones
- The Parties intend to finalise performance milestones for Fembridge within the next 30 days. If the Parties fail to agree upon Performance Milestones within thirty (30) calendar days after the Effective Date, the retainer shall automatically amend to US$25,000 per calendar month until such time as the Parties agree on the Performance Milestones.
- HeraMED shall pay FemBridge a commission equal to 10% of all sales generated by HeraMED as a result of HeraCARE licence sales facilitated by FemBridge.
- Additionally, a Development Plan will be established that will set out the steps for the deployment of the combined solution incorporating all the additional services Fembridge intends to offer such as mental health support, doula services and SDoH screening.
- On additional revenue generated from the additional services provided by Fembrgidge as part of the care solution managed through HeraCARE (all of which have existing reimbursement codes) the revenue split will be 50:50 revenue split between HeraMED and Fembridge net of costs.
- Under the agreement, HeraMED will exclusively engage FemBridge for the Social Determinants of Health, Maternal/Fetal Monitoring Clinical Coaching, Doula services and Behavioural Health and Substance Use Disorder functions of the FemBridge Product.
- Term: 2 years with an option to extend for a third year.
- Termination: Either party can terminate with 90 days’ notice without cause.
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