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HomeStay Care Limited (ASX:HSC) is in a unique business of designing and developing a scalable healthcare technology platform called the HomeStay Internet of Things (IoT) Platform which is intended to protect and take care of elderly people. The technology is driven by machine learning, artificial intelligence and predictive analytics incorporated with wearables and personal alarm systems throughout the home to provide real-time medical alerts.
On 14th March 2019, the company announced that it has commenced a live trial of its MyDay and Carers Companion app through Lifestyle Blueprint Project, enabled by St John of God Health Care. St John of God Health Care is a not-for-profit private healthcare group, providing quality healthcare services. The organisation employs more than 13,950 staff across New Zealand, Australia and the wider Asia Pacific region with 24 facilities in Australia and New Zealand.
This project would we worked upon by St John of God Health Care with HomeStay and other leading technology companies providing the necessary technologies. Under this project, a smart home is to be developed with all the required residential technologies that could improve the quality of life for people with complex intellectual and physical disabilities.
Some of the technology companies (apart from HomeStay) to work on this project are Samsung providing smart devices, Signify offering colour therapy lighting and motion sensor technology, BCDS Group building secure access control, Quantify Technology installing smart home lighting, power outlet devices etc.
The smart home is being built in Brighton, Melbourne which will allow residents to be more independent and less reliant on carers. For the accomplishment of this, maNy technologies like motion sensors, apps, voice assistants, artificial intelligence etc. are being fitted. St John of God Health Care will also enable to collect key metrics and data through these technologies which will be used to support decision making and prioritise one-on-one care.
HomeStayâs Carers Companion and MyDay apps which were specifically developed for this project were launched into live trials this month. Carers Companion app helps the carers of people who are living with complex needs to receive reminders of clientâs and their house tasks, set up meal plans, document and monitor their behaviours etc. It is a transition from the paper-based method of collecting the data to the digitization of the entire process, resulting in an improved data collection and ensuring care continuum.
On the other hand, My day app which is developed for the residents with an intellectual and cognitive disability allows them to simply view and effectively visualise what is planned for their day like what clothes are recommended, the weather, the evening meal etc. The app also has features to use imagery and has a voiceover to accommodate sighted and partially sighted residents.
On 11th March 2019, the company had declared the appointment of a new interim CEO, Philippa Lewis.
On the technical front, the stock traded flat on ASX at A$0.028 as of 4th March 2019 (AEST: 1:37 PM). The prices are continuously falling from the last one month and trading at a negative return of 26.3% while YTD return stands at negative 22.2%.
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