ASX-listed health tech company, InteliCare Holdings has posted a lovely set of numbers as part of its latest financial update. The company recently announced an incredible 911 per cent increase in customer receipts for the March quarter when compared to the previous quarter and a significant 55 per cent hike in revenues for the year to date as its artificially intelligent, in-home monitoring systems for the disabled and elderly start to gain market acceptance.
InteliCare’s basic monitoring system known as “InteliLiving” comprises off the shelf movement monitors that are linked to InteliCare’s proprietary artificial intelligence software platform that learns the daily behavioural patterns of a sick or elderly person over time.
Any major departure from that “normal” pattern will result in a family member or health care provider being notified via InteliCare’s APP.
The InteliCare Pro system is the commercial offering from InteliCare that incorporates all of the features of InteliLiving into a large dashboard that allows multiple patients in a hospital or aged care facility for example to be monitored at the same time.
Interestingly, the company is now also expanding the capabilities of the InteliLiving system to integrate a range of new add-on products including wireless sensors, panic buttons and integration with wearable devices, such as “Fitbits”, to further enhance the functionality of its product line.
InteliCare says it has recently passed an important milestone and tapped into a growing market after fitting 15 InteliLiving systems and InteliCare Pro systems into a specialist disability care facility in Victoria. If the deployment proves successful, it will open the door to the provision of its technology across potentially more than 10,000 facilities in the same end-users management portfolio.
Special disability accommodation represents a growing market and success in this trial may prove a significant opportunity for InteliCare. The Federal government is currently tipping over $700 million a year into the development of new special disability accommodation across Australia, with the company’s product suite now potentially first in line to play an important role in the sector.
InteliCare recently raised $2.5 million which will be utilised to increase advertising on television, radio and in digital media. InteliCare has also brought in specialist staff to manage the marketing blitz and expand its national network.
The company’s marketing campaign already appears to be paying dividends with InteliCare recording over 835,000 views of its advertisements on television in Perth, whilst digital marketing recorded over 840,000 page views. Nationally, the company has seen a 271.9 per cent rise in visits to its website and social media pages based upon “week-on-week” data, which will likely translate into increased sales as its distributor network grows across Australia.
InteliCare now looks to be hitting its straps as it launches a national advertising campaign, taps into new markets and records strong sales growth across its unique product line.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
