Conversation 150:

Why this stock almost doubled on day one.

Finding ways to help people to live in their own home for longer, despite their age, has never been more important.

During the pandemic, keeping the pressure off our hospitals is critical but in the future, the growing costs associated with ageing populations are set to make aged care at home a massive industry.

Perth based InteliCare [ASX:ICR] is a new business entering that market and it listed this morning. It immediately jumped from its issue price of $0.20 to $0.39. Why?

The company's five million dollar Initial Public Offering was oversubscribed.

CEO Jason Waller describes InteliCare as a Software as a Service business, AI and data play.

The way it works is you install a base station, much like a modem, and then apply stick on sensors [no cameras] around a home or apartment.

'These passive sensors then establish what is normal day to day of behaviour and if the algorithm picks up a deviation it sends and alert to a designated carer' according to

The cost of initial installation is between $1,000 to $1,500. The monthly fee that follows is $60. That may sound significant to some but compared to an aged care facility, it is a much cheaper option.

USEFUL LINKS

Intelicare website

RECENT MARKET ANNOUNCEMENTS BY INTELICARE:

W.A Government places Order with InteliCare to use New Radar Sensors

Intelicare Now Available in the Microsoft Azure Marketplace