InteliCare launches Health Metrics and accesses billion-dollar wearable technology market
Health & Biotech
Health & Biotech
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At-home aged care tech company InteliCare has launched real time reporting and insights of personal health metrics.
Perth based InteliCare Holdings (ASX:ICR) has launched its brand new Health Metrics product which enables real-time reporting and insights of personal health metrics for elderly Australians.
Wearable smart health devices can now be integrated with InteliCare’s app, InteliLiving, to provide personal biometrics in real time – giving the company access to a US$45.7bn market.
The aged care technology company’s new suite of analytics aims to provide enhanced functional capacity to the InteliLiving remote care package through this real time monitoring.
The mobile health apps and associated patient monitoring is a large and growing segment of the current total digital health market.
InteliCare’s new product update can enable the capture and recording of health data, through integrated smart health tracking devices like Fitbit. This seamless integration allows InteliLiving to tap into the growing wearables market for health and wellbeing tracking.
A total of 1.2 million smart wrist wearables were sold in Australia in 2H20. The market opportunity for InteliCare’s disability offering is also enhanced with this update as it allows carers to build a more complete picture of their clients’ risks.
Instead of carers having the ability to only check on the movement and activity of their loved ones, through current and planned wearable synchronisation, they will be able to monitor heart rate (average and resting), weight and BMI, respiration, temperature, blood oxygenation, blood glucose and activity (i.e. steps).
Using the InteliLiving app, carers can view and track health metrics on a daily, weekly, monthly or longer time frame.
Earlier this month, InteliCare was mentioned in the official Royal Commission into Aged Care final report as a recommended advanced technology to improve aged care services in Australia.
The company also reported $235,518 in sales in the half-year ended December 31 and last month signed a supply agreement with Optus.
InteliCare’s chief executive Jason Waller says this new product update is the first step in a much deeper strategy to drive more efficient care.
“InteliLiving’s health metrics meets an immediate customer need with a free offering,” said Waller.
“It is a clear example of how we are able to leverage our open architecture IoT platform to build and incorporate new products to meet a rapidly evolving industry and remain ahead of the market.”
The initial product will be a free addition to the current product suite, but as further advances are made, additional subscription options will become available.
Existing InteliCare customers will be able to use the product immediately.
This article was developed in collaboration with InteliCare, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.