Australia’s growing ageing population is proving profitable yet again, as Queensland-based aged care tech company Talius Group (ASX: TAL) receives another order under its ongoing contract with Keyton Retirement Villages (formerly Lendlease’s Retirement Living). The order involves the supply of advanced assistive technology solutions as part of Keyton’s efforts to improve its emergency call systems across its extensive retirement village portfolio.
Talius has secured an additional order from Keyton for 3,100 units of a customised assistive technology solution, specifically incorporating Talius’ Care@home Hub and supplementary peripherals. The projected revenue from this purchase order is estimated to be approximately $1.3 million, highlighting Talius’ continued success in the market. The delivery of these units is scheduled to begin in the third quarter of 2023, with a gradual rollout planned throughout the year. The service will be accessible through Talius’ Smart Care Platform, which operates on a subscription basis.
Talius’ comprehensive suite of services, underlined by its Smart Care Platform, facilitates a shift from reactive care to proactive care, allowing nursing staff to prioritise building connections with residents rather than solely collecting data. By combining real-time awareness, in-depth analysis, and prompt action on a single platform, Talius’ innovative solutions contribute to improving the quality of life for individuals in their later years.
In the last two quarters of 2022 and the first quarter of 2023, Talius has received orders for 10,000 units from Keyton, and it has been diligently delivering these units to various sites. The installation and deployment of these units are integral to Keyton’s comprehensive upgrade and refurbishment process, aiming to provide a seamless emergency response experience to its residents. Keyton, with 75 retirement villages and over 16,000 residences, recognises the importance of cutting-edge technology in meeting the evolving needs of its elderly community.
Talius Group has established itself as a leading provider of technology-enabled care solutions in the aged and disability sectors, catering to various settings such as retirement living, residential aged care, and home and community environments. The company’s proprietary Software as a Service (SaaS) data analytics platform, Talius Smart Care, integrates smart sensors with AI machine learning capabilities, enabling automated actions and data analysis.
As the Company continues to advance the assistive technology landscape, its ongoing partnership with Keyton Retirement Villages showcases its commitment to creating a more advanced environment for the elderly. This latest order is expected to foster enhanced well-being and security for Keyton residents in the future.
Last month, the Company rebranded from HSC Technology to Talius, highlighting its renewed focus on aged and disability care. This followed a particularly successful March quarter, where it earned revenue of $3.2 million, a significant increase of 320% on the previous period last year. The Company also broke even from an EBITDA perspective for the quarter.
The Keyton contract further makes a case for a positive financial report come the fiscal year end.
Alinda is a Business Reporter for The Sentiment
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