Sending a positive ripple across the world, Australia gears up to revive back its operations as the people can once again feel the euphoric moments of joy on its renowned beaches. The reopening of the Australian Economy is infusing a ray of hope among the people. The optimistic signs are evident through the flattening Covid-19 curve, and the dwindling infection rate as the country advances to create a tantalising victory tale for the other nations to follow.
The pandemic that was associated with steep infection rise had the choking impact on the economy as the safety restrictions were imposed on the country. The remote working trends picked up the momentum as the people were confined to their homes. In the meantime, digital innovations have served as the pillar in times of economic despair.
The heavy reliance on cloud technologies and the communication services has showcased that technology lies at the forefront of the economic sturdiness. Often regarded for their riskiness, the growth tech stocks do not merely seem to promise a short-term future now. In the meantime, the world has come to realise the fact that the future burden to economic restoration somehow rests on the technological regime.
The crisis has provided innovative solution providers with an opportunity to leverage the situation for creating a strong market base for the consumers. Many players rolled out their enticing solutions that catered to the needs of the consumers. In the meantime, telehealth player, InteliCare Holdings Limited with the growing opportunities springing forth is going public with its listing on Australian Stock Exchange.
Placement Details of the IPO
The Company in the face of Covid-19 launched its IPO on 16 March 2020. InteliCare Chief Executive Officer Mr Waller concerning the IPO highlighted that the product is well-understood by the people and is receiving great reception. Meanwhile, the Company believed that despite the challenges for the capital raising amidst the Covid-19 pandemic, the telehealth area is well-placed with the increasing concern on the safety of the senior adults.
The Company issued 27.5 million shares at the issue price of $0.20 each for raising the capital of $5.5 million. The initial public offer by InteliCare has been fully subscribed. InteliCare would begin trading on ASX in May under the code ICR.
A Glimpse at the InteliCare Solution
The Company is focused on enabling people to live in an independent environment for longer while remaining connected to the family and the caregivers. The solutions create a sense of security for the seniors or elderly who are living in their homes or the aged care facilities. Through InteliCare, the family and the caregivers get a real-time view of the older person, ensuring higher well-being even in the independent environment.
The solution allows the family to be immediately informed of any potential risk to the aged adult or the people with disability. The Artificial Intelligence-based smart sensors lie at the heart of the InteliCare technology, which allows it to sense risk and potential changes in the activities of the people. The sensors capture data and build a model on the usual routine of the people. When detecting a deviation from the ordinary course of habit, the InteliCare solution provides warnings to the people that altogether reduce the severity and the probability of the risks to the older adult monitored through the solution.
Market Opportunities for InteliCare
The aged care centres amidst the Covid-19 has been severely affected by many community transmissions cases in the facilities. The proneness to the infection has increased in the aged care facilities for the senior adults who are highly susceptible to the severity of the Covid-19. Despite the range of social distancing protocol and varying measures, many nursing homes in Australia recorded infection cases.
Newmarch House aged care facility in Sydney recently became another hotspot for the Covid-19 infection as the death toll rose to 13 as recorded on 1 May 2020. So far, 61 confirmed Covid-19 cases had been reported in the facility.
The growing concern related to the infection has altogether skyrocketed the demand for the technological solution that can assist in ensuring the safety and well-being of the individuals. Meanwhile, many senior people post-retirement prefer to stay in their own homes. However, increasing health and safety concerns are one of the prominent factors that force them to visit the aged care facilities.
The InteliCare provides an answer to the long-awaited desires of the people as it is directed at ensuring the safety of the individuals. The IPO can come in handy as it provides capital backing to realise the commercial opportunities through the expansion in different areas.
Growing Potential for the Telehealth Solutions
The technological innovation saw the increased focus on the contact tracing applications for assessing the Covid-19 scenario and evaluate the situation. In the meantime, telehealth solutions have come up to deal with such difficult circumstances. Telehealth provides an innovative nudge to the healthcare needs of the people. While healthcare is grappling with the effects of the infection, technology is doing wonders to mitigate the impact of the pandemic. The amalgamation of the two fields that are receiving fundamental importance provides a plethora of opportunities for the players.
The healthcare system has shown resilience to the present situation and adopted the digital platform for providing health-related assistance. In the meantime, telehealth also has the capability to reduce the total healthcare cost for the individuals while also adding convenience and ease of taking up the services.
The teleconsultations have skyrocketed significantly amidst the people’s strong focus on the social distancing protocols. However, teleconsultations are the fountainhead of the telehealth industry, which is showing at a ferocious rate with the aid of advanced technologies. The use of Artificial Intelligence in the industry has opened vast avenues for growth. The sensor technologies, alert system, predictive analysis is some of the new elements of the sector, while more efforts are put to unearth prospective potentials through robotics, etc.
InteliCare which is all set to start trading on ASX soon appears well-positioned to capitalise on the growing safety demand for the individuals. The massive market potential has girdled the solution as people look to reduce the health-related risks. Covid-19 seems to be further accentuating the need for telehealth solutions that has reinvented itself through access to the innovative technological regime.