HeraMED Limited secured a binding Memorandum of Understanding (MOU) with IBL Holding Ltd. (IBL) to progress a pilot trial to sell HeraBEAT medical grade foetal heart rate monitors (each a HeraBEAT Monitor) in Mexico. HeraMED has received an initial purchase order for HeraBEAT Monitor valued at USD 35,000. It is the intention that IBL will distribute the HeraBEAT Monitors through IBL's Mexican partner, MacStore throughout Mexico. MacStore holds distribution rights for Apple products throughout Mexico and in which it sells those products through its 48 specialty `MacStore' outlets. As part of the agreement, IBL will supply the HeraBEAT Monitors to designated stores in the MacStore network, which are intended to be featured in a specially designated and branded digital health space. IBL will also promote HeraBEAT across its digital mediums and feature the product on its Ecommerce site. IBL will also be responsible for the approval, associated costs and registration of the HeraBEAT Monitors by any relevant regulatory and health authorities, as required in Mexico. IBL will also be required to procure that MacStore promotes the HeraBEAT Monitors through its network of medical professionals, hospitals and insurance companies in Mexico. The soft launch phase provided for in the MOU will allow HeraMED to progress market research initiatives and ensure any functionality issues from a device and smartphone app standpoint are addressed ahead of an intended full scale launch, subject to a successful pilot offering. At that stage, HeraMED will then look to negotiate broader terms regarding exclusivity and price based on schedule and quantities.