• InteliCare executes non-binding HoA with JNC Technologies Group (“JNC”) as a precursor to a binding reseller agreement
• JNC holds a strong presence in the aged care sector via its various software platforms across their group
• Both parties intend to complete binding documents before 31 October
• JNC has already identified multiple aged care providers where InteliCare is intended to be deployed
• JNC wish to share their pipeline of opportunities with InteliCare as part of this agreement
• The HOA with JNC is validation of InteliCare’s commercialisation strategy beginning to be executed upon along with JNC’s commitment to deliver reliable and proven in market software solutions to the Aged Care and NDIS sectors
• Strategic partnerships with groups already established within the Aged, Disability and Health Care sectors provides an ability for InteliCare to scale more rapidly
• Leveraging the InteliCare platform also accelerates JNC’s commitment to deliver Aged Care providers with best in class and actionable information for greater effective care management.
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 Heads of Agreement (“HoA”) with JNC Technologies Group Holdings Pty Limited (“JNC”).
JNC is a software business specialising in data aggregation and building software and algorithms to address specific industry challenges in the aged care and NDIS sectors. JNC has a number of market leading software solutions in the aged care sector specifically focused on governance, risk and compliance, aged care quality standards, and aged care consumer care environments.
The HoA provides a commercial framework through a reseller agreement for JNC to integrate InteliCare with its Habitat+ platform and then into JNC’s ADIQAT platform. Leveraging InteliCare and JNC’s well-established market presence in the aged care industry, Habitat + (powered by InteliCare) will be collaboratively offered into JNC’s network.
With the aged care sector currently faced with considerable regulatory and funding reform, increasing compliance requirements and ongoing challenges to recruit and retain the right workforce, this working together of InteliCare and JNC is very well timed to support aged care providers in responding to these changes.
JNC has already identified multiple aged care providers for which it is intended InteliCare will be deployed. Following this initial deployment phase and arranging the reseller approach for optimum results between all parties, a number of further opportunities have already been identified to further leverage InteliCare by JNC in 2024 and beyond.
Whilst the HOA is non-binding in nature and therefore no certainty can be provided at this point to a successful deployment or the financial impact on InteliCare, the opportunity to work with JNC to pursue these commercial opportunities is strategically material as it validates both the value proposition of InteliCare as well as the commercialisation strategy being undertaken by the Company. Both parties are now moving as quickly as possible to finalise a binding agreement in order to offer this solution to suitable customers in JNC’s customer network.
Daniel Pilbrow, InteliCare CEO, says: ‘’I am delighted to have entered into this agreement with JNC and look forward to completing the binding agreement and getting InteliCare’s first deployment underway within JNC’s network.
JNC is an ideal corporate partner for InteliCare as we seek to execute our commercialisation strategy. One element of the strategy is to seek strong commercial partners. JNC has a very strong network in the aged care industry with customers seeking monitoring and predicative analytics solutions to deliver proactive care within their communities. Pleasingly after reviewing market options and even considering developing a platform themselves, JNC elected to enter into a reseller agreement with InteliCare demonstrating the value proposition of the InteliCare platform.”
JNC says: “We see genuine opportunities to partner together to accelerate solutions and adoption of technology to improve outcomes for the sector. This collaboration holds immense promise for both organisations and marks a significant milestone as we combine InteliCare’s robust software with JNC’s well-established market reach. 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.’’
About the HoA
The HoA with JNC sets out the principal terms and conditions for a binding agreement between both companies. The purpose of agreement is to deliver technology, software services and platforms to the aged care sector.
Headline terms for the HoA:
– It is the current intention of the parties that JNC will enter into a reseller arrangement with a suitable aged care provider in its existing network (Initial Customer) under which it will deploy the InteliCare platform (Initial Agreement).
– If the Initial Agreement is successful, the Parties intend to enter into a framework reseller agreement for future customers (Framework Agreement).
– It is intended the Initial Agreement will be entered into prior to 31 October 2023.
– For the Initial Agreement a revenue share arrangement will to be agreed once the Initial Customer’s requirements and scope of customisation is known, under which JNC re-sells the Habitat+ platform (powered by InteliCare) to the Initial Customer (either on a standalone basis, or bundled with one or more of JNC’s other products).
– Existing IP contributed by each Party as at the commencement of the Initial Agreement (Existing IP) will be identified and documented prior to the commencement of the Initial Agreement and on a continuing basis during the term of the Initial Agreement. The Parties agree that any Existing IP will remain the property of the Party which contributed that Existing IP both during and after termination of the Initial Agreement.
Approved for Release by the Board of Directors.