InteliCare (ASX:ICR) inks multi-million dollar reseller agreement and aged care deployment
InteliCare Holdings (ASX:ICR) has continued its positive streak with the announcement of a binding reseller agreement with JNC Technologies Group (JNC). This deal represents the company's largest-ever deployment of its proprietary platform and marks a significant milestone for the Perth-based SaaS company specializing in AI-driven solutions for the aged, disability and healthcare sector.
The Agreement, with an initial term of three years and provisions for 12-month extensions, brings together InteliCare's expertise and JNC's proficiency in data-driven solutions for the aged care and NDIS sectors. The revenue structure comprises Hardware and Application Software Fees, Installation Services Fees, and potential additional Professional Services Fees at JNC's discretion.
The collaboration entails deploying 'Habitat+ powered by InteliCare' to Hardi Aged Care, a well-established provider with facilities across Greater Sydney. Hardi Aged Care currently serves approximately 600 residents across six residential aged care facilities. The phased rollout, scheduled to commence in early 2024, will be the first of its kind in the Australian aged care sector, covering all six facilities over an anticipated six-month period.
Jo Dalton, General Manager of Hardi Aged Care, emphasized the collaborative effort's alignment with care provider values, stating, “It is in our DNA to relentlessly work to identify better ways for better care, and we feel we have great partners in this journey with JNC and InteliCare.”
The expected annual SaaS fees post full deployment are anticipated to reach $500,000, with total Hardware implementation fees estimated at $1.8 million. Importantly, a mutually beneficial revenue share model has been established, with InteliCare retaining 66.67% of the margin from hardware and application software reselling fees, and JNC receiving the remaining 33.33% of the generated margin.
InteliCare CEO Daniel Pilbrow expressed enthusiasm for the deal, emphasizing JNC as an ideal partner for InteliCare's commercialization strategy. Pilbrow noted, “We are excited by the pipeline of commercial deployment opportunities within the JNC group, and we look forward to reaching agreements with other clients in JNC’s network. I believe this is the start of a long and fruitful partnership between InteliCare and JNC.”
JNCTech CMO Jason Buckley highlighted the shared vision and commitment to leveraging innovation for better care solutions in aged care. “Collaboration provides immense promise for our organizations and marks a significant milestone as we combine InteliCare’s robust software with JNC’s platforms with Hardi’s strong family-based values in aged care,” said Buckley.
Following the successful deployment within Hardi Aged Care facilities, InteliCare and JNC plan to enter into a framework reseller agreement for future customers.
This announcement follows InteliCare's share price surge this month after announcing a Memorandum of Understanding (MoU) with Bolton Clarke, Australia’s largest independent not-for-profit aged care provider.
The platform will be deployed across selected Bolton Clarke sites, paving the way for potential national strategic partnerships. This strategic shift to B2B engagement earlier in the year has resulted in significant partnerships, including collaboration with the renowned Peter MacCallum Cancer Centre, marking InteliCare's entry into the lucrative remote patient monitoring sector.
