- InteliCare announces a game changing reseller deal with JNC Technologies Group
- The expected annual SaaS fees post-deployment will total $500,000 once fully deployed
- The company’s share price is up 85% this month
InteliCare Holdings (ASX:ICR) has followed a run of good news that sent its share price soaring with the announcement of a game-changing deal with JNC Technologies Group (JNC) that includes the company’s largest ever deployment of its proprietary platform.
The Perth-based SaaS company specialises in AI-driven solutions for the aged, disability, and healthcare sector and, with JNC’s expertise in data-driven solutions for the aged care and NDIS sectors, the binding Reseller Agreement marks a significant achievement for the company.
The initial term of the agreement spans three years, with provisions for 12-month extensions. The revenue structure includes hardware and application software fees, installation services fees, and potential additional professional services fees at JNC’s request.
First client secured
Under the agreement, JNC and InteliCare will deploy ‘Habitat+ powered by InteliCare’ to Hardi Aged Care, an established provider with facilities across Greater Sydney.
Hardi owns six residential aged care facilities currently caring for approximately 600 residents.
The deployment, slated to commence in early 2024, will be the first of its kind across the Australian aged care sector. It will be a phased rollout over an anticipated six-month period, covering all six of Hardi’s residential aged care facilities.
Hardi Aged Care general manager Jo Dalton said the collaboration extends beyond business interests, resonating with the values of care providers.
“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,” she said.
“We are looking forward to the improvements in the prioritisation and predictive care management we are anticipating with our investment from this agreement.”
The expected annual SaaS fees post full deployment will total $500,000 while the total hardware implementation fees are expected to be $1.8 million.
Crucially, a mutually beneficial revenue share model has been established, with InteliCare retaining 66.67% of the margin from hardware and application software reselling fees, while JNC will receive 33.33% of the generated margin.
InteliCare CEO Daniel Pilbrow welcomed the deal saying JNC is an ideal partner for InteliCare’s commercialisation strategy.
“One element of the strategy is to seek strong commercial partners and JNC has a very strong network in the aged care industry with customers seeking monitoring and predictive analytics solutions to deliver proactive care within their communities,” he said.
“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 emphasised the shared vision and commitment to leveraging innovation for better care solutions in aged care.
“We are fortunate to be working with like-minded partners at both Hardi and InteliCare who share our vision to leverage innovation and technology to deliver better care solutions in aged care,” he said.
“Collaboration provides immense promise for our organisations 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. We look forward to accelerating better outcomes for care providers, care workers, and those in need of care via our shared commitment to advancing aged care through innovation.’’
Following successful deployment within the Hardi Aged Care facilities, InteliCare and JNC intend to enter into a framework reseller agreement for future customers.
Strategic leap forward
InteliCare’s share price rocketed up last month after the company announced a Memorandum of Understanding (MoU) with Australia’s largest independent not-for-profit aged care provider Bolton Clarke.
Bolton Clarke operates a network of 88 residential aged care homes and 38 retirement villages throughout Australia and services more than 130,000 clients through community care programs.
InteliCare’s innovative platform will be deployed across selected Bolton Clarke sites where it will be assessed and then, in collaboration with InteliCare, enhanced and tailored to meet the requirements of each environment.
The agreement serves as a precursor to a potential national strategic partnership and reflects a significant step forward in InteliCare’s strategic trajectory with the company shifting its focus to B2B engagement earlier this year.
This move has resulted in pivotal partnerships, including a notable collaboration with the esteemed Peter MacCallum Cancer Centre, marking InteliCare’s foray into the lucrative remote patient monitoring sector.
This article was originally published on Stockhead on Monday 11 December 2023.