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- Shares in software developer InteliCare (ICR) spike in early action following a $170,000 contract with non-profit aged care support provider MercyCare
- MercyCare will buy 125 AI-based home monitoring system units from InteliCare to help elderly people in Western Australia live independently in their own homes
- The tech acts as a movement monitoring device in an older person’s home through a system of small sensors in each room
- The information can be viewed by families, carers, and patients through a mobile-based dashboard to provide peace-of-mind for indepenetly-living older people and their families
- Shares in InteliCare were up 67 per cent and trading at 16 cents each at 10:20 am AEDT
Shares in software developer InteliCare (ICR) have spiked in early action following a $170,000 contract with non-profit aged care support provider MercyCare.
MercyCare has agreed to buy 125 AI-based home monitoring system units from InteliCare to help elderly people in Western Australia live independently in their own homes.
InteliCare said today’s contract has further non-binding potential for ongoing recurring fees and additional hardware on top of the initial $170,000 order.
What does ICR’s tech do?
InteliCare’s home monitoring system is designed to give older people a greater level of independence while providing peace of mind to families and carers.
Effectively, the tech acts as a movement monitoring device in an older person’s home through a system of small sensors in each room.
These sensors are powered by artificial intelligence and can “learn” the person’s daily routines, eating and sleeping habits, and even monitor a home’s temperature.
The information can be viewed by families, carers, and patients through a mobile-based dashboard. This way, if anything is out of the ordinary — or if the patient has a fall or other serious incident — families and carers can be notified immediately without the need for conventional fall alarms or phone calls.
MercyCare, which is based in WA, will be able to provide the InteliCare home monitoring systems to their clients either through their aged care funding or privately.
InteliCare CEO Jason Waller said the company was “extremely pleased” to have locked in today’s contract with MercyCare.
“MercyCare is a highly respected organisation that understands the importance of
innovation and smart technology when seeking care solutions,” Mr Waller said.
“This contract reflects InteliCare making substantial traction in the aged care sector thanks to our continued investment in creating innovative and scalable solutions that empower service providers with clear and comprehensive data.”
Meanwhile, MercyCare CEO Anthony Smith said the company was looking forward to seeing the positive outcomes the ICR technology can bring about for older Western Australians.
“We are excited at the opportunity to look into how technology can improve and enhance the quality of care for clients who live at home independently,” Mr Smith said.
“We look forward to empowering our care staff with data which can be used to deliver our Person-Centred Approach by proactively customising each individual’s care and support.”
Shares in InteliCare were up 67 per cent and trading at 16 cents each at 10:20 am AEDT. The company has a $6.6 million market cap.
