BOLTON CLARKE EXECUTES NON–BINDING MOU AS A PRECURSOR TO ENTERING A STRATEGIC PARTNERSHIP AGREEMENT
InteliCare is delighted to announce it has executed a non-binding Memorandum of Understanding with Bolton Clarke as a precursor to a Strategic Partnership Agreement.
- The Memorandum of Understanding is a validation of InteliCare’s new strategic focus on B2B and strategic partners for commercialisation, with a flagship partner in the form of Bolton Clarke;
- Bolton Clarke is Australia’s largest independent not-for-profit aged care provider, supporting more than 130,000 people at home and in its 88 residential homes and 38 retirement villages;
- Through this strategic partnership the parties will work together to implement InteliCare into to-be-identified Bolton Clarke sites/services as pilot projects to assess InteliCare within the Bolton Clarke operating environment;
- Under these pilots, Bolton Clarke’s innovation capability will be used to assess and identify areas of possible enhancement to InteliCare;
- Forming a partnership with Bolton Clarke would be invaluable to InteliCare’s commercialisation strategy as it continues to refine and develop its commercial offering and delivery for larger partners such as Bolton Clarke.
InteliCare Holdings Ltd (“ICR” or the “Company”) (ASX:ICR), an Australian software company commercialising its proprietary AI driven InteliCare platform (“InteliCare”) in the aged, disability and health care sectors is pleased to announce it has entered into a non-binding Memorandum of Understanding (“MoU”) with Bolton Clarke (“Bolton Clarke”).
Bolton Clarke is Australia’s largest independent not-for-profit aged care provider, supporting more than 130,000 people at home and in its 88 residential homes and 38 retirement villages nationally.
The organisation is among only 3 per cent of Australian aged care providers offering a full range of connected care and living options, underpinned by a dedicated Research Institute with a focus on enhancing lives through leading research and applied knowledge.
Since 2021, Bolton Clarke has expanded to bring Acacia Living Group, Allity and McKenzie Aged care to Bolton Clarke Group.
Whilst this MoU is non-binding in nature and therefore no certainty can be provided at this point to a successful deployment or the financial impact on the Company, this opportunity represents the first potential large strategic partnership that InteliCare has been able to enter into with a market-leading partner in Bolton Clarke. This MoU also validates the Company’s strategic focus on B2B and strategic partnerships, with Bolton Clarke’s sizeable residential and community care base an excellent opportunity for the Company to prove out its offering and revenue model through pilot programs with Bolton Clarke facilities and services.
Daniel Pilbrow, InteliCare CEO, says: “I am delighted to have entered into this MoU with Bolton Clarke and look forward to completing the Strategic Partnership Agreement to welcome Bolton Clarke as a Foundation Client of the InteliCare platform and commencing deployment of the InteliCare platform into Bolton Clarke’s operations.
The ability to partner with Bolton Clarke to both prove out our B2B strategic focus, as well as work together to envision, design and develop the InteliCare solution with a large industry participant will provide the Company with invaluable learnings for its offerings, as well as realise the commercial value of the InteliCare platform.”
Johny Agotnes, Bolton Clarke Chief Digital and Innovation Officer, says: “I look forward to working with InteliCare on new ways to achieve Bolton Clarke’s purpose of helping people live a life of fulfilment. There is immense opportunity in leveraging technology to help older Australians live well and support quality aged care and independent living services in Australia and this initial work and potential future partnership will hopefully unlock some of these opportunities to the benefit of all Australians.”
About the MoU
The MoU with Bolton Clarke sets out the principal terms and conditions for a binding Strategic Partnership Agreement between the parties. The purpose of the agreement is for the parties to enhance and tailor the InteliCare platform to the Bolton Clarke environment and offering model whilst providing Bolton Clarke with an opportunity to become a shareholder in ICR in the future.
Headline terms of the MoU:
- It is the current intention of the parties that Bolton Clarke and the Company will enter into a Strategic Partnership Agreement as soon as reasonably practicable following the execution of the MoU.
- The Parties’ obligations under the Strategic Partnership Agreement will include:
- Bolton Clarke identifying site(s)/service(s) in which it will implement and assess the InteliCare platform.
- ICR and Bolton Clarke working together to implement the InteliCare platform at the site(s).
- Establishing Strategic Alignment forums to provide staff from both parties with access to facilitate co-design, development and innovation within the InteliCare platform.
- Bolton Clarke will leverage its innovation capability within the strategic partnership to enhance the delivery of care to senior Australians.
- Bolton Clarke’s Chief Digital and Innovation Officer will act in an advisory role, providing support to the InteliCare executive team and Board of Directors as required.
Approved for Release by the Board of Directors