HomeStay Care Limited (ASX:HSC or Company) the in-home care platform powered by IoT devices, has secured strong sales results in the initial weeks under its new expanded offering which now includes a new distribution license with Essence APAC.
The upgraded offering makes it easier and more cost-effective for the 7.8m Australians in the addressable ageing and disability market to stay in their own home with plug and play options to transform a home.
The sales for approximately $330,000 consist of invoiced sales and purchase orders for Intelligent Home system packages, being up-front purchases with additional ongoing monthly subscriptions. This includes a contracted purchase order valued at approximately $300,000 to a leading Australian-based provider of independent living services through at-home care, retirement living and residential aged care, which will be invoiced and delivered this quarter.
These sales are the first achieved in the first few weeks of the distribution license with Essence APAC, recently announced on 15 July 2019. This license provides HomeStay with immediate revenue opportunities and a deep sales pipeline through the exclusive right to market, distribute and sell all Essence APAC healthcare-associated solutions, including Essence Group healthcare-associated IoT, hardware, software solutions and peripherals.
It enables HomeStay to be uniquely positioned to capture market share in the $580m hardware and software market with its affordable cloud-based platform and consumer IoT solution, helping service the $40b1 opportunity across the aged care and disability sectors.
Commenting on the growth, CEO of HomeStay, Philippa Lewis said, “These sales are a powerful endorsement of our innovative go-to-market strategy with Essence APAC and is a leading indicator that our IoT platform has strong product-market fit along with high demand in an enormous market. It is a great sign to have even more respected brands joining the platform.”
“The license with Essence APAC has increased our customer reach and sales pipeline with a combined sales and marketing program strengthening our go-to-market success. Over the next few months, we will be working closely with Essence APAC, their resellers and partners to assist in supporting them with sales, marketing and delivery tools to further increase sales opportunities.”
“Our IoT platform provides the industry with a great example of one of the key terms of reference in the current Royal Commission into Aged Care Quality and Safety – how to enable elderly Australians to stay in their homes safely for as long as possible.”
“The IoT platform is scalable across different client segments and geographies. Analytics within the platform will enable us to continually refine it to provide the best care possible for all clients based on learnings from past activities and interactions across the whole Intelligent Home platform. It is therefore well positioned to meet the changing needs of aging populations across Australia.”