InteliCare has delivered a 29 per cent spike in quarterly sales as its predictive analytics software that monitors the daily movements of the sick and the elderly is deployed across the aged-care and healthcare sectors. The upwards swing in sales coincided with a lowering of costs which has delivered a 23 per cent increase in overall margin.
The sales spike follows the roll-out of Intelicare’s “Business-to-Consumer” strategy via a new online platform and e-commerce marketplace which is targeting the ‘DIY’ market whereby family members can monitor the wellbeing of their elderly or health-challenged loved ones remotely.
InteliCare’s system learns the typical daily movements of an elderly or sick person and reports back to family members if a person’s typical movement pattern changes somehow.
On the back of its IPO in May this year, InteliCare has produced an impressive twelve months of solid fiscal performance with revenue increasing by 312 per cent on the back of a whopping 500 per cent increase in cash sales.
The company said its latest set of quarterly results were supported by a ten-fold increase in commercial units deployed and a 360 per cent increase in distributor arrangements – and the company says it still has a strong order book.
InteliCare’s intelligent monitoring systems have been snapped up by clients of the some big names in Australia’s aged care landscape including national providers such as the Brightwater Care Group Ltd. Large WA player Baptistcare WA Ltd also has clients taking up the system whilst Alzheimer’s WA is trialing the technology.
The sector appears to be benefiting from the recent Royal Commission into Aged Care which is set to pump a mammoth $21 billion in Federal Government funding into independent living to improve the quality and safety of Australia’s aged-care system.
The company’s “InteliLiving” hardware and software platform is linked to in-home sensors which use InteliCare’s artificial intelligence technology to report. Interestingly, the sensors are just off the shelf units and the real smarts reside in the APP-based software.
The independent living or ‘DIY aged-care market’ is a massive market for InteliCare who says there are about 2.7m people in Australia alone that fit that category, roughly double the number of people residing in aged-care facilities.
Importantly, InteliCare’s products are NDIS-approved, potentially opening up a lucrative new market in the disability sector.
With its two core products, ‘InteliLiving’ and ‘InteliCare Pro’, powering sales, the James Waller-led InteliCare looks to have its marketing growth strategy on track now as its e-commerce platform gains market acceptance in Australia’s burgeoning aged care and health management sectors across Australia.
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