Raisebook

Aged Care Tech that Enables People to Stay in Their Own Homes for Longer
InteliCare Holdings Pty Ltd
InteliCare Holdings Pty Ltd
Unlisted
  • Most Australians who reach older age will require care and support, either from family members or from the formal care system.
  • The proportion of people aged 65 years or over in Australia’s total population is projected to increase from 15% at 30 June 2017 to between 21% and 23% in 2066.
  • The aged care sector in Australia generates annual revenues totalling around $22BN.
  • Spending on aged care is expected to be the fastest growing budget item after the National Disability Insurance Scheme and is one of the fastest growing industries in Australia.
  • This industry-leading, machine-learning system uses IoT data to detect changes in activity and behaviour patterns to provide peace of mind for family and carers through 24/7 access via a smart device application or online portal.
  • InteliCare’s proprietary technology connects with various sensors within the home or aged care facility to provide ongoing monitoring to assist in the care of its users.
  • InteliCare has also developed a larger-scale SaaS offering for care providers (such as aged care facilities, home care providers or hospitals)
Raise Amount
$5,500,000
Offer Price
$0.2000
Closes
Apr 30, 2020

InteliCare Holdings Ltd is an Australian technology company focused on the development and commercialisation of the InteliCare system, a hardware and software as a service package for use in the aged care sector.

The industry leading machine learning system uses IoT data to detect changes in activity and behaviour patterns to provide peace of mind for family and carers through 24/7 access via a smart device application or online portal.

InteliCare believes Australians deserve to age with dignity and through its business-to-business (B2B) and business-to-consumer (B2C) solutions.

Built on its proprietary Internet of Things (IOT) platform, utilising smart sensors and artificial intelligence (AI), InteliCare aims to enable people to stay in their own homes for longer while empowering healthcare providers to deliver higher quality, more efficient services.

InteliCare’s proprietary technology connects with various sensors within the home or aged care facility to provide ongoing monitoring to assist in the care of its users.

The InteliCare SaaS platform has been developed to be flexible and scalable through its open architecture which enables the technology to integrate with a wider variety of sensors, devices or complimentary services, when compared to closed-architecture systems based around a single-source manufacturer.

The Company has established a board and management team possessing skills and experience in the commercialisation and scaling of innovative technology companies, including through a number of ASX listed companies.

Jason Waller is the CEO and Managing Director of the Company. Mr Waller was the CEO of Spookfish (ASX: SFI) that was acquired in December 2018 by EagleView for $136 million.

Greg Leach is the Non Exec Chair, and is a founder of InteliCare. Mr Leach was previously chief technology officer of Empired Ltd (ASX: EPD).

InteliCare is currently generating revenue. The company has three primary revenue streams:

  1. Upfront revenue - sale of hardware;
  2. Recurring monthly subscription/monitoring fees, and;
  3. Service and integration revenue for wholesale clients.

The Offer

InteliCare Holdings Limited (ACN 622 484 397) is issuing an Initial Public Offer of 27,500,000 fully paid ordinary shares in the Company at an offer price of $0.20 per share to raise $5,500,000.

The New Shares to be issued pursuant to the Public Offer are of the same class and will rank equally with the existing Shares on issue.

The offer of the securities are made in, or accompanied by, a copy of the Disclosure Document which can be obtained by clicking on the "ACCESS DISCLOSURE DOCUMENT" button on this page.

Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the Disclosure Document.

Before making an investment decision, potential investors should read the Disclosure Documents entirely, and seek professional financial advice.

Investors should be aware that there are risks associated with an investment in this Company.

No assurance can be given that the Company will achieve commercial viability through development of its Platform.

A complete set of risks associated with an investment in the Company is included in Section 4 of the Disclosure Document.

Key Offer Details

Shares Options Performance Rights
Existing Securities 42,978,723 8,262,500 2,300,000
Director Offer 619,793 2,000,000
Shares offered under the Public Offer (at an Offer Price of $0.20 per Share) 27,500,000
Lead Manager Offer 1,801,190 3,000,000
Total Securities on issue on completion of the Offers 72,899,706 13,262,500 2,300,000

Indicative Timetable

Event Date
Closing Date for the Offers 14 May 2020
Issue Date 21 May 2020
Despatch of holding statements 25 May 2020
Expected date for quotation on ASX 29 May 2020

The Intellicare System

The InteliCare System is comprised of three sub-systems:

  • InteliCare Hub;
  • Smart sensors;
  • InteliCare App

Smart Sensors

Motion, power, vibration and door sensors are installed in the home.

Beyond the base configuration, users can also choose from additional sensors that further enhance the system, such as shower sensors, GPS pendants, smart watches and bed sensors.

These provide InteliCare with information on activity within a household, including environmental conditions such as temperature, humidity and light levels.

The sensors allow InteliCare to model what routine domestic activity is like within the home, such as the normal time a resident wakes up, meal preparation activity and sleep patterns.

InteliCare Hub

The InteliCare Hub is a proprietary hardware component equipped with a micro-computer, a touch enabled display screen, a microphone and a speaker (InteliCare Hub).

It provides Internet connectivity and control functionality for the in-home sensors.

InteliCare App users can be authorised to access ‘Intercom mode’ so they can talk to the resident and vice versa.

InteliCare App

The “InteliCare App” is the primary interface for family members or carers.

  • If the household is following the normal routine, the InteliCare App provides assurance by sending an ‘all OK’ message. This means carers don’t need to continually check in on the InteliCare App to achieve peace of mind.
  • If InteliCare senses something is abnormal, such as lower than normal activity, it will send a pop-up notification to a smart device, such as a mobile phone, for the user to check in with the resident.
  • If InteliCare detects a serious issue, such as failure to get out of bed or a duress pendant activation, it will send a push message as well as a SMS alert.
  • Access to the intercom feature enables audio into the home via the built in InteliCare Hub speaker and microphone.
  • The InteliCare App provides an overall view of the status of the resident, such as overall activity levels and trends, whether the resident is at home or away from home, the household climate, sleep quality, domestic routine, social behaviour and meal preparation.

InteliCare Pro

InteliCare has also developed a larger-scale SaaS offering for care providers (such as aged care facilities, home care providers or hospitals) (InteliCare Pro). InteliCare Pro integrates the InteliCare Hub and smart sensors with a dashboard system enabling many residents to be monitored at the same time.

This deal closed on April 30, 2020