Intelicare stays focused on B2B strategy with east-coast expansion
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Perth-based health tech platform Intelicare (ASX:ICR) has made its first entry into the east coast market, announcing a binding deal with North Sydney healthcare provider CCNB Ltd.
Under the terms of the deal, CCNB will purchase a 120-volume order of the InteliLiving System for the network, and will then a trial of the technology over the next 12 months.
Shares in ICR rose by around two per cent into midday trade to 46 cents, holding gains from its May IPO price of 20 cents.
Intelicare (ASX:ICR) share price chart
ICR’s InteliLiving technology is a sensor-based platform that is deployed in the home of elderly citizens.
The system gathers data to detect movement patterns, and can automatically alert health workers and family members of anomalies in the daily routine.
The end-goal is to extend the time frame for senior citizens to live independently in their community with the relevant safeguards in place.
Speaking with Stockhead, Intelicare CEO Jason Waller said the deal with CCNB was part of the company’s early strategic focus on driving B2B sales channels.
“We employed a direct out-bound sales team targeting the B2B market, and we’ve secured a number of resellers and relationships there,” Waller said.
“The important thing about B2B is that it allows us to deal with the managers of existing care providers, and their client base helps bring people onto the system individually.”
“Then we can work with them on the installation side to get the system established. In contrast, doing that on a direct-to-consumer basis in the first instance isn’t a scalable approach.”
Established in 1994, CCNB is a not-for-profit organisation that helps families that helps families and carers to work within the healthcare system and get the treatment they require.
Via its deal with CCNB, Intelicare will be able to work with people who are eligible for the Commonwealth government’s recently-announced Home Support Programme, which provides funding of up to $1,000 per person to purchase personal monitoring technology.
The 12-month pilot agreement “will be to evaluate whether complementing people’s care with the InteliLiving system, leads to better health and wellbeing outcomes for people and their families”, Intelicare said.
As part of the agreement, CCNB will also have access the Intelicare Pro platform, which is an advanced SaaS offering that includes a coordinated dashboard management systems to monitor multiple people at once.