The ASX-listed software company has seen its share price jump after executing a non-binding Memorandum of Understanding with Australia’s largest Not For Profit aged care provider Bolton Clarke as a precursor to a Strategic Partnership Agreement.
Specialising in the aged care, health care and disability space, InteliCare’s platform utilises AI-driven, smart sensors, wearable technology and alert devices to track activity levels, patterns of behaviour, health metrics, sleep and more, helping to detect changes and allowing care providers to deliver care proactively.
The MoU is the first potential large-scale strategic partnership that InteliCare has been able to enter into with an aged care provider and saw its share price climb to a high of $0.28 on the announcement.
Bolton Clarke currently supports more than 130,000 people at home and in its 88 aged care homes and 38 retirement villages.
In a statement to the market, InteliCare said the parties would work together to implement its platform into to-be-identified Bolton Clarke sites/services as pilot projects to assess InteliCare’s commercial offering and revenue model and identify areas for possible enhancements to their technology.
Bolton Clarke Chief Digital and Innovation Officer, Johny Agotnes (pictured), said: “There is immense opportunity in leveraging technology to help older Australians live well and support quality aged care and independent living services in Australia and this initial work and potential future partnership will hopefully unlock some of these opportunities to the benefit of all Australians.”
The Agreement will also provide Bolton Clarke with an opportunity to become a shareholder in InteliCare in the future.
