INTELICARE HOLDINGS LIMITED — Capital/Financing Update 2021

Mar 21, 2021

22 March 2021

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InteliCare Holdings Ltd

ASX Code

InteliCare Launches New Health Metrics Product

• New Technology in InteliLiving ® Now Enables Real Time Reporting and Insights of Personal Health Metrics

• Wearable Smart Health devices now integrate with InteliLiving ® to provide real time personal biometrics – giving ICR access to a USD$45.7Bn market.

• Complete Personal Health Metrics to provide a truly holistic solution for InteliCare’s world leading remote health

Managing Director

Non-Exec Chairman

InteliCare Holdings Ltd (“InteliCare” or the “Company”) (ASX: ICR), an Australian smart health technology company that has developed world leading proprietary systems and products to address the growing global burdens in the aged care and related sectors, is pleased to announce it has developed a new suite of analytics which provides significantly enhanced functional capacity to its market leading InteliLiving® remote care package via real-time monitoring and reporting of personal health metrics.

InteliLiving® Health Metrics is the first step in the Company’s previously announced strategy to further increase market share and competitive advantage by leveraging its proprietary IoT platform and AI, and represents a significant new milestone in the technological and functional capability of our flagship product.

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New Health Metrics Product

InteliLiving’s® smart home enabled analytics already provide independent adults and their care team with proactive insights and alerts based on daily activities and routines. InteliLiving® Health Metrics ensures a truly holistic solution for remotely tracking, recording, and maximising a person’s health and wellness is achievable.

InteliLiving® health metrics enables the capture and recording of health data. This is available via both manual and automated methods, through integrated smart health tracking devices like Fitbit® (Google acquired Fitbit in 2019 for $2.1 billion). Information captured includes heart rate (average and resting), weight and BMI, respiration, temperature, blood oxygenation, blood glucose and activity (steps).

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Figure 1 – InteliLiving’s Integrated Personal Health Metrics

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Using the InteliLiving® app, members of a care team can view and track multiple health metrics on daily, weekly, monthly or longer time frames. The most recent information is displayed in a dedicated page on the InteliLiving® app or via the InteliCare Pro Dashboard.

Users can preconfigure thresholds to easily visualise when a metric is abnormal. For example, if weight drops below a pre-set threshold, the health metrics dashboard indicator turns amber along with the weight graph on the health metrics details page.

When paired with InteliLiving® passive sensors, daily routine data and proactive analytics, InteliLiving’s® health metrics provides an additional dimension to detect emerging health and wellness issues, enabling the care team to take a proactive approach to improving the health journey of the client.

Jason Waller, CEO and Managing Director InteliCare commented:

“InteliLivin ® health metrics is meeting an immediate customer need with a free offering. It is a clear example of how we are able to leverage our open architecture IoT platform to build and incorporate new products to meet a rapidly evolving market and remain ahead of the market. It is the first step in a much deeper strategy to exploit our competitive advantage and gain deeper insights from AI to drive more efficient, better care.”

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Intelicare Holdings Ltd ABN: 84 622 484 397 T: 1300 001 145 A: 299 Vincent St, Leederville, WA 6007

Figure 2 – Long Term Personal Health Metrics Activity & Health Check

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Product Launch

The initial InteliLiving® health metrics product will be a free addition to the current product suite in order to leverage competitive advantage and gain market share. As further advances are made to the value offering, additional upsell subscription tiers will become available.

InteliCare has already demonstrated InteliLiving® Health Metrics to existing customers with early adopters indicating they will begin using the product immediately and, in one case, a B2B customer transferring from an existing health metrics provider. The Company will accelerate the launch with an accompanying marketing campaign across digital channels.

Market Size and Opportunity

Mobile health (mHealth) apps and associated remote patient monitoring (RMP) is a large and growing segment of the USD$350Bn total digital health market.[i] Within this, the mHealth market was valued at USD$45.7Bn in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 17.6% from 2021 to reach USD 166.2 billion by 2028.[ii]

InteliLiving® Health Metrics unlocks further growth opportunities across this valuable market:

• Immediate Consumer Smart Wearable Market. Seamless integration with Fitbit® allows InteliLiving® to tap into the current and growing wearables market for health and wellbeing tracking. In Australia, A total of 1.2 million smart wrist wearables were sold in 2H20.[iii] In particular, it provides another market entry point for InteliCare’s current disability product offering, where adoption of wearables is greatest, to assist care workers build a more complete picture of client risks.

• Rapidly Growing Global RMP Market. Globally, the RMP market size is expected to reach around US$ 4.8 Billion by 2030 with a CAGR of 20.01%. In particular, vital sign monitoring is expected to witness the fastest growth over the forecast period owing to their common usage.[iv] Australia’s vast distances has accelerated the development of Australia’s RMP industry.

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Intelicare Holdings Ltd ABN: 84 622 484 397 T: 1300 001 145 A: 299 Vincent St, Leederville, WA 6007

• Rapidly Growing Global mHealth Market

• Post-COVID Telehealth Growth. Pre-COVID-19, the total annual revenues of US telehealth players were an estimated $3 billion. However, remote monitoring and digital patient engagement tools enable additional healthcare services to be delivered remotely. It is estimated that in the USA alone, approximately USD$250 billion in healthcare spend in 2020 that could be shifted to virtual or near-virtual care.[v]

• Increasing Industry Investment. Healthcare industry leaders have cited remote monitoring as a key area for future investment. Remote monitoring provider adoption is anticipated to grow from current investment intent of 32% to 93% anticipate in the next 5-10 years.[vi]

• Increasing Capital market Investment. Funding for technologies that provide remote patient support grew significantly in 2020 due to COVID-19, with USD$926 million in funding channelled to the value pool in the past year.[vii]

• Hospital at Home (HaH) Providers . HaH is ripe for virtual disruption—especially for elderly patients who are vulnerable to healthcare-associated infections and other complications of inpatient care, with a potential addressable market of USD$60Bn.[viii] In Australia, approximately 6 percent of all hospital days are provided in a HaH setting and it has been shown to be more cost effective than a traditional setting. Recently, the Australian Government Department of Health 2020-21 budget included new Private Health Insurance reforms to support hospital in the home.

Future Roadmap

InteliCare is developing further integrations with newly sophisticated and affordable, Therapeutics Goods Act (TGA) approved wearable sensors that will further automate data gathering.

These sensors deliver information about heart rates, glucose levels, and oxygen saturation to care providers anywhere in real time. This approach to patient care and oversight can potentially reduce the length and number of hospital stays and lower readmission rates, as well as help patients keep chronic diseases such as diabetes and hypertension under control.

These data streams are essential for AI-enabled decision support. It has the potential to further uplift InteliCare’s use of artificial intelligence to learn from large data sets that uniquely combines both passive behaviour patterns with integrated vital statistics. This may allow healthcare professionals to make better decisions and deliver treatment faster, especially from remote locations. These types of healthcare support systems, enabled by high-bandwidth, low-latency networks, such as 5G, and advances in computing, storage, and sensors, have been estimated to unlock $40 billion to $70 billion in efficiencies.[ix]

These InteliLiving® Health Metrics features are expected to be released in H2CY2021 and will be a value-added paid subscription targeting B2B customers across the healthcare industry.

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Intelicare Holdings Ltd ABN: 84 622 484 397 T: 1300 001 145 A: 299 Vincent St, Leederville, WA 6007

What is InteliLiving®?

InteliLiving® enables seniors and people with disability to live at home independently. It uses smart home sensors (not cameras) to gather information about activity in the home. The sophisticated system sends daily messages about conditions and activity within the home by learning an individual’s daily routine. If all is okay, members of the care team (family, carers, or health care professionals) get a daily message letting them know. Conversely, if the system detects movements are out of the AI generated daily routine, an alert is sent to the care team on their smartphone or other device.

What is InteliCare Pro™?

InteliCare Pro™ is a larger-scale SaaS offering for care providers (such as aged care facilities, home care providers or hospitals). It integrates the InteliLiving output with a dashboard system enabling many residents to be monitored at the same time. This enables commercial care providers to triage services to achieve higher quality care to those who need it most, reduce travel and staff costs, and maintain an audit trail when responding to issues. It also assists commercial carers to comply with the Australian Government's Aged Care Quality Standards.

This means declines in physical and mental wellbeing can be detected through advanced analytics insights before emergencies happen. It allows the care team to focus on prevention, not just respond after the event.

Aged and Disability Care organisations can quickly identify issues and prioritise care to reduce the risk of an emergency. In this way, their clients and families feel safer, more confident and happier knowing that their service is supporting them and delivering the highest level of care.

Contact and Authorised for Release to the ASX

Jason Waller, Chief Executive Officer and Managing Director, InteliCare Holdings Ltd, +61 1300 001 145 , investors@intelicare.com.au

Media Enquiries:

Melissa Hamilton, Senior Account Director, Media & Capital Partners, +61 417 750 274 melissa.hamilton@mcpartners.com.au

About Intelicare Holdings Limited

InteliCare is an Australian technology company that has commercialised a predictive analytics hardware and software system for use in the aged care and health industries. InteliCare believes Australians deserve to age with dignity and through its business-to-business (B2B) and business-toconsumer (B2C) solutions built on its proprietary internet of things (IOT) platform utilising smart sensors and artificial intelligence (AI), InteliCare aims to enable people to stay in their own homes for longer while empowering healthcare providers to deliver higher quality, more efficient services.

i Cohen, Hung, Weinberg, and Zhu, Healthtech in the fast lane: What is fueling investor excitement? December 2020, McKinsey Global Publishing. https://www.mckinsey.com/industries/pharmaceuticals-and-medical-products/our-insights/healthtech-in-the-fast-lanewhat-is-fueling-investor-excitement

ii mHealth Market Size, Share & Trends Analysis Report By Component (mHealth Apps, Wearables). https://www.grandviewresearch.com/industry-analysis/mhealth-market

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Intelicare Holdings Ltd ABN: 84 622 484 397 T: 1300 001 145 A: 299 Vincent St, Leederville, WA 6007

iii Telsyte Australian Smartphone & Wearable Devices Market Study 2021. https://www.telsyte.com.au/announcements

iv Vision Research Reports. https://www.arnnet.com.au/mediareleases/137852/global-remote-patient-monitoring-system-market/

v Bestsennyy, Gilbert, Harris, and Rost. McKinsey and Company. https://www.mckinsey.com/industries/healthcare-systems-andservices/our-insights/telehealth-a-quarter-trillion-dollar-post-covid-19-reality

vi Fowkes, Fross, Gilbert, and Harris, Virtual health: A look at the next frontier of care delivery, June 2020, McKinsey and Company. https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/virtual-health-a-look-at-the-next-frontier-of-caredelivery

vii Digital Health Funding Database, Rock Health, July 4, 2020, rockhealth.com; PitchBook Data, pitchbook.com.

viii Abrams, Laughlin and Matthews. MyPath for Hospital. in Home, March 2021. https://www2.deloitte.com/content/dam/Deloitte/us/Documents/process-and-operations/us-mypath-for-hospital-in-homeinteractive-final.pdf

ix Bartlett and Smit. August 18, 2020. https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/digitalblog/healthcares-connectivity-cure

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Intelicare Holdings Ltd ABN: 84 622 484 397 T: 1300 001 145 A: 299 Vincent St, Leederville, WA 6007