Image Source: © Vchalup | Megapixl.com
- InteliCare announced a residential care partnership with WA based leading aged care provider – Bethanie.
- This partnership results from ICR's non-exclusive Master Supply Agreement with Optus.
- The deal further represents ICR's entry into an AU$14.3 billion residential aged care vertical.
The Australian technology company, InteliCare Holdings Ltd (ASX:ICR) announced a residential care partnership with Bethanie and Optus today.
Announcing a contract win, ICR is all set to initiate services with Bethanie - one of Western Australia's leading aged care providers.
The scrip traded 4.761% higher at AU$0.088 at 3:45 PM AEDT.
The partnership, initiated via ICR's non-exclusive Master Supply Agreement with Optus Enterprises, further drives ICR's Go-to-Market growth strategy.
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Further, the ongoing modifications to improve the user experience for residential aged care staff had been the primary reasons behind this deal.
It builds on ICR's indirect sales channels through distributors with significant pre-existing business and consumer client bases.
This deal further represents ICR's entry into a new AU$14.3 billion residential aged care vertical.
On the other hand, Bethanie will benefit from ICR's leading-edge, innovative technology with this partnership.
Bethanie will try ICR's technology for a proof-of-concept pilot project to allow its staff to proactively monitor customers to collect real-time behavioural and health data via sensors.
Image source – © Chormail | Megapixl.com
Moreover, this AI processed data is presented on a consolidated dashboard to give carers richer insight into a customer's health and wellbeing.
Terms of the contract
The execution of the contract is considered material to InteliCare, although the contract value isn't material. Apart from this, the statement of work is a three-month PoC, with the PoC being estimated at over AU$40,000.
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What is the use of proof-of-concept?
As per the release, the proof of concept will measure ICR's ability to increase Bethanie's capacity to deliver improved care outcomes using ICR's technology.
Bethanie provides services to more than 3,000 Western Australians across residential and home care, community housing and retirement villages.
As administration and data entry tasks get automated, carers can get more quality time with customers with optimised workflows.
ICR share price movement
The scrip seems to witness heavy selling pressure in the market as it has dropped over 71% in the last 12 months. While it has fallen 7% on YTD, it has shown improvement in the previous week, gaining 20%.
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