Track ya nan! The company builds a tool that uses AI to track patterns of movements in homes (of the resident) and subsequently alert "primary carers" of changes.
The company says the tool allows extension of the time people can remain in their own homes. With an ageing parent myself, and one who lives in a different city to both my sibling and me, this would be ideal as piece of mind. Neither of us want to "put her in a home" and I think, like many ageing people, a home is the last place they want to be too.
More recently (read today) the company has announced a replacement of the curernt CEO, Jason Waller.
Daniel Pilbrow will be taking the CEO reins from 18 July. In the interim Mike Tappenden who is co-founder and co-majority shareholder as well as Chief Technology Officer will provide leadership.
Pilbrow comes from a background in healthcare, aged care and disability sectors mostly in the NFP sector so this will be a different ballgame. That said, he also has experience in investment for the sector. He must have told a good story, as recently as 2008 he was working as a physiotherapist for the Brisbane Broncos.
This one has a market cap of less than $10M and while revenue ticked up slightly in the half, so did losses and more so than revenue.
The track ya nan market could seriously be huge, and while they may have some smarts in the deployment there is not much to prevent competition.