InteliCare secures $2.5m to fund commercialisation strategy
Health & Biotech
Health & Biotech
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At-home aged-care tech company InteliCare has announced the completion of a $2.5million capital raise.
Perth-based InteliCare Holdings (ASX:ICR) is well-funded to execute the next stage of its commercialisation plan, announcing the completion of a $2.5m in a capital raise led by Perth’s JP Equity Partners.
The funds will be used to further expand InteliCare’s national sales strategy following the recent launch of its first consumer campaign in Western Australia.
InteliCare’s CEO Jason Waller said the company was already seeing a very positive response to the campaign.
“Our first consumer campaign has been very well-received by the residents of Western Australia,” said Waller.
“We’re also looking at a national campaign following its success.”
The raise follows a string of good news for InteliCare in the 12 months since it listed on the ASX.
The company recently signed a five-year deal with giant telco provider Optus, and launched its Health Metrics feature giving it access to the billion-dollar wearable technology market.
The recent placement saw strong interest from InteliCare’s existing sophisticated shareholders, directors and several new institutional investors.
Speaking with Stockhead, InteliCare’s chief executive Jason Waller said he was pleased by the strong support shown for the capital raise.
“The strong demand demonstrated the market’s belief in our journey to date and the exciting new phase to come.
“This raising, along with existing cash reserves, places the company in a solid position to capture the growing tailwinds arising from the Aged Care Royal Commission and expected flow-on to federal budgets.
“The company will use the funds to boost our presence on the east coast and further expand commercialisation through national sales – and right now is a pivotal time in Australia’s aged care and disability evolution,” said Waller.
InteliCare launched its first consumer campaign launch last week in Western Australia, to tap into the growing need for assistive technology at home.
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.