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Highlights
- The Australian government provides funding to a range of aged care homes
- Regis Healthcare provides care for over 7,200 people throughout Australia
- Swift Networks has secured a new agreement worth AU$1.5 million with Hubify Limited
- PainChek reported strong revenue growth of 66% in the March quarter
The Australian government provides funding to a range of aged care homes across the nation to ensure care and support to those who need it. To get funding from the government, aged care homes are required to meet Aged Care Quality Standards to confirm quality service and care.
Image source: © 2022 Kalkine Media®
This article will discuss five aged care homes listed on ASX
Data source: ASX data as of 26 May 2022
Regis Healthcare Limited (ASX:REG)
Regis provides residential care, retirement living, home care and short-term care facilities. Starting with 104 residentials in regional Victoria, Regis now cares for over 7,200 people throughout Australia. Its services include ageing-in-place, respite care, specialist dementia care and palliative care.
The ongoing Omicron outbreak since mid-Dec 2021 has impacted Regis’ growth. The company has implemented outbreak management plans across its affected homes. The aged care centre reported a 90.2% average occupancy for the four months ended 30 April 2022.
Related read: AMC, REG: 2 ASX All Ordinaries shares hitting their 52-week highs yesterday
Estia Health Limited (ASX:EHE)
Estia is one of Australia’s largest health care providers. Altogether, it has 68 homes in South Australia, Victoria, New South Wales, and Queensland. Its clinical care services offerings include regular reviews, daily medication, pain management programs, medical services, specialist dementia care and personal care.
On 22 Feb 2022, Regis reported that it had incurred an incremental cost of AU$12.1 million associated with the prevention and response of COVID-19. It had applied for recovery grant under government grant schemes of AU$7.5million.
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Swift Networks Limited (ASX:SW1)
Swift provides network infrastructures, premium entertainment, and communications across different sectors, including Residential Aged Care.
Recently, Swift signed a new agreement worth AU$1.5 million with Hubify Limited, a technology solutions provider. Under the agreement, Swift will supply proprietary communication and entertainment solutions to the aged care market.
This contract will earn upfront installation fees in Q1 FY23 and recurring revenues for an initial 54 months.
PainChek has developed a secure and world’s first digital pain assessment tool that accurately evaluates patients' pain levels. The PainChek® App is clinically proven to improve pain assessment and treatment for people with moderate to severe dementia in aged care.
In the quarter ended 31 March 2022, PainChek reported a strong revenue growth of 66% compared to the prior quarter. Further, the company received new aged care (non-government-funded) client sign-ups in Australia, New Zealand, and the UK.
Related read: PCK, LBT, OPL – Three AI stocks from ASX healthcare
InteliCare Holdings Ltd (ASX:ICR)
InteliCare is an Australia-based Software-as-a-Service (SaaS) technology company, which operates in the aged care and health industries. It has developed an award-winning AI-based home monitoring solution that enables people to live independently in their homes.
Major highlights of the company for the March 2022 quarter are as follows:
- 300% growth in sales compared to the previous corresponding period
- 32% reduction in expense on prior quarter
- Expansion of services to include more than 60 new Health Metric solutions
Related read: Intelicare (ASX:ICR) announces partnership with Bethanie & Optus
