Aged care technology company InteliCare’s services are increasingly in demand as the aged care sector grapples with a shortage of workers.
The Committee for Economic Development of Australia released its report into the aged care sector in late June, flagging a shortage of 35,000 workers.
The report warned the sector is at risk of not being able to meet basic standards of care and is losing roughly 65,000 workers annually.
Given these challenges, it’s no wonder companies offering AI solutions to the problem are finding favour.
Following a stellar few months of growth, InteliCare Holdings (ASX:ICR) is continuing to accelerate its strategy in making sure quality care is accessible to Australians everywhere by signing a pilot deal with WA Country Home Services (WACHS).
The $100,000 plus pilot program will measure the efficiency of InteliCare’s assistive technology solution in supporting residents to live independently.
It will also provide WACHS with a non-intrusive system to improve resident safety and wellbeing.
The information and insights generated from InteliCare’s sensors, emergency alerts and health devices will be used to help staff detect and respond proactively to changes in behaviour.
“To see WACHS continuously invest in InteliCare’s solution reaffirms the innovative and valuable work we are achieving for our partners,” says Acting CEO and Founder, Mike Tappeden.
“It’s our goal that the success of the pilot program will be recognised and expanded nationwide, with the aim of providing Australians living in rural areas greater independence and data-driven care.”
The 12 month PoC of InteliLiving will aim to prove AI and data-centric support systems can provide better care for regional aged care residents. If successful, InteliCare hopes to replicate the model.
Spate of partnerships
The announcement follows a spate of partnership agreements from the Perth-based SaaS company.
Earlier this year, it announced increased national expansion through a partnership with Victorian-based boutique, premium in-home aged care provider, Like Our Own.
This came after the company cracked the $14.3 billion residential aged care vertical with a new contract win with one of Western Australia’s largest aged care providers, Bethanie, which was instigated through InteliCare’s five year supply agreement with Optus.
InteliCare has also consistently posted strong reports this year, most recently celebrating sales up 300%, and recently announced the appointment of a new CEO Daniel Pilbrow
This year, InteliCare announced that through a new global partnership with leading Canadian digital health company Persona Informatics, its tech is now synced with more than 60 Therapeutic Goods Association (TGA) and US Food and Drug Administration (FDA) approved devices including some of the big name brands like iHealth as well as popular fitness devices FitBit and Garmin
With roughly one in five Australians owning a wearable fitness tracker and about a quarter using a mobile app or website to monitor their activity levels and health, the market is increasingly popular here at home and growing worldwide.
Strategic restructure for growth
InteliCare announced the appointment of Australian Aged Care Industry leader Daniel Pilbrow as the company’s new CEO to succeed Jason Waller, commencing on 18th July 2022.
Additionally, the Board was further strengthened with the appointment of Dr Neale Fong as Non-Executive Chairperson and Cam Ansell as an Independent Non-Executive Director.
Founder and inaugural Chairperson, Greg Leach, will remain as a Non-Executive Director, while Dr Terry Sweeney retired from the Board after accepting an executive position within the health industry.
InteliCare also welcomed Anne McCormack, a senior executive with Healthscope, to a newly established Clinical Advisory Committee.
This article was developed in collaboration with InteliCare Holdings, 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.