Australian software-as-a-service (SaaS) company InteliCare Holdings (ASX: ICR) has transformed its pilot phase into a full-fledged contract with the nursing facility Hardi Aged Care.
The Company announced that its 10-bed deployment at the Hardi Aged Care Manly Vale facility will now expand to a full site rollout. In addition, InteliCare will be deployed into 42 single rooms at the Blacktown facility, Hardi’s second site, at the same time.
On February 27, 2024, InteliCare and Hardi entered into a binding Subscription Agreement to deploy InteliCare into Hardi’s six residential aged care facilities. The deployment across these facilities is expected to take approximately nine months.
InteliCare CEO, Daniel Pilbrow, says, “I am delighted to report on the success of the 10-bed pilot deployment at Manly Vale. InteliCare will now be implemented across the remaining 82 beds at Manly Vale to provide Hardi with the valuable benefits they have seen in the pilot period across an entire facility.”
InteliCare is an Australian technology company that sells predictive analytics hardware and software systems for use in the aged care and health industries. It uses AI and smart sensors to help professionals in these industries.
Hardi is a private, family-owned aged care business that owns six residential aged care facilities, which currently have about 600 residents. The agreement with Hardi represents InteliCare’s largest commercial deployment to date. The contract value is expected to be $1.7 million in hardware implementation, and on full deployment, it will generate in excess of $0.4 million annually in recurring software-as-a-service fees.
Pilbrow added, “We have built a really strong partnership with the Hardi team during this first phase of pilot deployment at the Manly Vale site, and we continue to benefit from their valuable inputs and insights. I am particularly impressed with the way Hardi are approaching how the implementation of InteliCare can support their operating model, and how it can support in the delivery of the best care to residents and great experiences for team members.”
In H1 FY24, InteliCare reported a revenue decline of 16.8% on H1 FY23 to $122.6k. At the same time, its loss improved from $2.2 million to $662.1k. At the end of March 2024, its cash equivalents stood at $824k. In February, it terminated a reseller agreement with JNC Technologies due to the latter being unable to meet certain commitments. Instead, InteliCare placed its attention on Hardi Aged Care and other B2B opportunities.
Hardi Aged Care GM, Jo Dalton, commented, “We are genuinely impressed with the progress on the pilot as well as the commitment from the InteliCare team to be responsive and address things as they have arisen. The commitment and responsiveness from InteliCare gives us great confidence to progress to next steps.”
As the Company begins deploying its platform across Hardi Aged Care’s facilities, it is also making progress in advancing its software.
On May 17, InteliCare executed a Memorandum of Understanding with software company Vlepis Solutions for a pilot program to evaluate the ability of the InteliCare platform to integrate with Vlepis devices. Vlepis is a smart well-being sensing technology manufacturer that provides devices for the global health ecosystem, including a leading fall and motion detection monitoring device for aged care facilities.
Upon integrating the InteliCare platform with Vlepis devices, the parties will work together to enter a Strategic Partner Reseller Agreement for Vlepis to resell the InteliCare platform to its aged care and healthcare customers.
For FY24, InteliCare is focusing on building its B2B pipeline and reviewing its reseller agreements to boost its revenue.
Alinda is a Business Reporter for The Sentiment
Latest posts by Alinda Gupta (see all)
- Ovanti’s iSentric signs contracts worth $14.4m with Malaysian commercial bank - June 27, 2024
- Baby Bunting fights back from retail downturn with 5-year strategy, includes Gen-Z focus and self-funded growth - June 27, 2024
- CLEO meets with US FDA to develop strategy for ovarian cancer test launch - June 26, 2024
1 Comment
Shraddha13
Thank you for sharing! To explore further
Replyhttps://www.360iresearch.com/library/intelligence/big-data-software-as-a-service