Seeking to reshape the landscape of aged care in Australia, tech company InteliCare (ASX: ICR), an Australian software company specialising in AI-driven solutions for the aged, disability, and healthcare sectors, has entered into a non-binding Memorandum of Understanding (MoU) with Bolton Clarke, the country’s largest independent not-for-profit aged care provider.
The strategic partnership signals a shift in InteliCare’s business model towards B2B collaborations, with Bolton Clarke as its flagship partner. Bolton Clarke, renowned for supporting over 130,000 individuals through residential homes, retirement villages, and in-home care services, will collaborate with InteliCare to integrate its innovative technology into select facilities as pilot projects.
InteliCare’s proprietary AI-driven platform, aptly named InteliCare, employs cutting-edge technology to enhance the quality of care for the elderly. The platform leverages sensors and predictive analytics to monitor and understand the daily activities and routines of aged care residents. This data is then analysed to identify patterns, allowing for the early detection of potential health issues or emergencies.
Daniel Pilbrow, CEO of InteliCare, expressed his excitement about the potential of the partnership.
“I am delighted to have entered into this MoU with Bolton Clarke and look forward to completing the Strategic Partnership Agreement to welcome Bolton Clarke as a Foundation Client of the InteliCare platform and commencing deployment of the InteliCare platform into Bolton Clarke’s operations,” said Pilbrow.
“The ability to partner with Bolton Clarke to both prove out our B2B strategic focus, as well as work together to envision, design and develop the InteliCare solution with a large industry participant will provide the Company with invaluable learnings for its offerings, as well as realise the commercial value of the InteliCare platform.”
The collaboration will serve as a testing ground for InteliCare within Bolton Clarke’s operating environment. Bolton Clarke’s innovation capability will be crucial in assessing the platform and identifying areas for potential enhancement.
Johny Agotnes, Chief Digital and Innovation Officer at Bolton Clarke, commented on the partnership, saying, “There is immense opportunity in leveraging technology to help older Australians live well and support quality aged care and independent living services in Australia, and this initial work and potential future partnership will hopefully unlock some of these opportunities to the benefit of all Australians.”
The MoU outlines the principal terms and conditions for a binding Strategic Partnership Agreement, with the intention of Bolton Clarke becoming a shareholder in InteliCare in the future. The agreement will involve the identification and assessment of specific sites and services for InteliCare implementation, collaboration on the platform’s integration, and the establishment of Strategic Alignment forums to facilitate co-design, development, and innovation.
While the MoU is non-binding, the potential deployment of InteliCare within Bolton Clarke’s vast network represents a significant milestone for InteliCare, validating its strategic focus on B2B partnerships. The collaboration is expected to pave the way for a transformative era in aged care, where technology plays a pivotal role in enhancing the well-being of seniors and providing peace of mind to their families.
For the quarter ended 30 September 2023, InteliCare reported sales of $24k with negative cash outflow of $791k from operating activities, with $1.1m cash on hand. No financial terms around the Bolton Clarke MOU, or size of potential investment were disclosed.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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