Spacetalk (ASX:SPA) approved as an NDIS registered provider

Summary

  • Global technology provider Spacetalk has been approved as a registered provider by the National Disability Insurance Agency (NDIA), effective immediately.
  • The significant achievement provides the National Disability Insurance Scheme (NDIS) participants with an opportunity to buy Spacetalk’s smartphone watches by utilising their government funding.
  • With this approval, the NDIA can directly purchase Spacetalk’s smartphone devices, paying the Company on behalf of the participants.
  • Spacetalk can now support the scheme participants more directly, effectively, and affordably.
  • In the NDIS, over 50% of the participants are children.

In a noteworthy development, innovative technologies developer Spacetalk Ltd (ASX:SPA) has announced that it has been approved as a registered provider of assistive technologies by the National Disability Insurance Agency (NDIA). The Company has been registered under the group “Assistive Products for Personal Care and Safety (0103)” with Organisation ID: 4050086566.

Now, Spacetalk’s smartphone watches for children and seniors can be purchased by participants under the National Disability Insurance Scheme (NDIS) by utilising their government funding to support their disability.

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Spacetalk devices can be purchased directly by the NDIA

With the NDIA approval, Spacetalk can more directly, effectively, and affordably support the participants in the scheme.

Previously, NDIS participants could have purchased Spacetalk devices only via a plan that is managed by an intermediary Plan Manager or a self-managed plan. However, now the purchase can be directly made by the NDIA paying Spacetalk on behalf of the participants.

Source: © Nilsversemann | Megapixl.com

DO READ: Spacetalk (ASX:SPA) aims to move the needle in smartwatch market with unique products

In the announcement, SPA also disclosed that NDIS participants might be eligible to have the total cost of the Spacetalk smartphone watches covered by their plan funding if the device is suitable as an assistive device.

With Spacetalk as a registered NDIS provider, all the company’s relevant future products that fall under the same registration group “Assistive Products for Personal Care and Safety (0103)” will automatically become available to NDIS participants.

NDIS in a nutshell

  • The NDIS provides support to people having a disability, their families, and caretakers.
  • This scheme is jointly governed and funded by the federal government and participating states and territory governments.
  • NDIS’ primary reason for existence is to empower eligible people by enabling individualised packages to support them with their disability.
  • The NDIS is not means tested. Similar to several other Australian government social policy programs – Medicare, income support payments, and the Pharmaceutical Benefits Scheme (PBS) – the NDIS is an uncapped scheme.

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As such, this scheme is transforming the assistive technology market in Australia by empowering its participants to buy a comprehensive range of assistive technology products and services with their NDIS budget, providing them choice and purchasing power.

Mark Fortunatow, CEO of Spacetalk, commented on this:

On 8 June 2021, SPA shares were trading at AU$0.165 (at 10:29 AM AEST), up by 6.451%.

MUST READ: Spacetalk (ASX:SPA) at the forefront of the fast growing market for kids wearables

To know more about Spacetalk Ltd., click here.

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