Highlights

  • InteliCare signed a five-year agreement with mecwacare valued at approximately AUD 8.8 million upon full deployment.
  • Deployment underway across multiple facilities, with around AUD 1.1 million already invoiced for five sites.
  • Three-year agreement secured with Warrigal Care for retirement village deployment worth about AUD 200,000.
  • Continued rollout within the Hardi network, with progress across six facilities.
  • Angus Cameron appointed Chief Executive Officer, bringing over 30 years of industry experience.

InteliCare Holdings Ltd (ASX:ICR) shares were at AUD 0.025 as on 30 April 2026, with the stock remaining up 150% over the past year. The company has released its operational update for the March 2026 quarter, outlining a series of commercial agreements, deployment milestones, and Leadership changes that reflect its ongoing transition toward broader implementation of its platform.

InteliCare Holdings Ltd, an Australian Software-as-a-Service (SaaS) technology company focused on aged care solutions. The company operates a proprietary artificial intelligence-driven platform designed to support aged care providers through predictive analytics, sensor-based monitoring, and integrated care solutions. Its offering spans residential aged care, retirement living, and in-home monitoring, with a focus on enabling improved care delivery and operational efficiency.

Landmark mecwacare Agreement Expands Commercial Base

During the quarter, InteliCare entered into a five-year Master Subscription Agreement with MECWA Limited (mecwacare), representing the largest contract in the company’s history. The agreement carries a total contract value of approximately AUD 8.8 million upon full deployment.

mecwacare is a not-for-profit aged care provider operating 22 residential aged care facilities, six retirement villages, and delivering services to more than 17,000 clients across Victoria. The agreement will see InteliCare’s platform deployed across all 22 residential facilities over a staged rollout spanning FY26 to FY28.

The Revenue model associated with this agreement includes multiple components such as hardware Supply, implementation services, recurring SaaS subscription fees, and additional professional services. Each Facility will be deployed under separate order forms, with Revenue linked to defined milestones.

Following the execution of the agreement, implementation activity progressed, with the company issuing invoices and completing work orders for five additional facilities beyond the already operational Trescowthick Centre. These five sites represent approximately AUD 1.1 million in Revenue, with deployment expected to be completed by 30 June 2026. SaaS fees are expected to commence once facilities become operational.

Pilot Outcomes Supported Broader Deployment

The agreement with mecwacare was preceded by a pilot program conducted at the Trescowthick Centre between July and November 2025. The pilot involved deployment across a 60-resident Facility and was evaluated against 11 performance criteria covering reliability, care outcomes, and operational effectiveness.

According to the company, all 11 criteria achieved ratings of “meets” or “exceeds expectations.” The pilot demonstrated 100% fall detection accuracy, with no missed or false fall incidents recorded during the evaluation period.

Additional outcomes included a reduction in residents requiring three-hourly overnight welfare checks, from 55 individuals to just 4, supported by real-time monitoring of vital signs and bed occupancy. This adjustment allowed staff to allocate attention to higher-priority care requirements while also supporting improved rest conditions for residents.

The platform also integrated multiple functions, including falls detection, vital monitoring, nurse call alerts, and staff duress notifications, into a single dashboard. This integration contributed to improved visibility and response coordination within the Facility.

Manual reporting processes were replaced with automated real-time reporting, enabling time efficiencies and improved governance. The system also introduced live tracking of staff, residents, and equipment, supporting operational visibility across the Facility.

Strategic Collaboration and Future Development

Beyond deployment, the agreement establishes a broader collaboration framework between InteliCare and mecwacare. This includes ongoing development of new features, data-driven insights, and evaluation of expanded service models such as in-home care.

The Partnership reflects a move toward integrating digital solutions into aged care environments, aligning with mecwacare’s objective of building technology-enabled care models.

Entry into Retirement Living with Warrigal

Subsequent to the end of the quarter, InteliCare signed a three-year Master Subscription Agreement with Warrigal Care Limited, a provider of aged care and retirement living services across New South Wales and the Australian Capital Territory.

The agreement has a projected total contract value of approximately AUD 200,000 and includes hardware Supply, implementation services, and recurring subscription Revenue. The initial deployment will involve installation of the platform across 65 retirement villas within a new development.

This deployment enables monitoring of resident wellbeing, safety, and activity patterns, with the aim of supporting earlier identification of changes in health or behaviour.

The agreement also includes the potential for annual renewals beyond the initial three-year term and establishes a pathway for possible expansion across Warrigal’s broader network, which includes 10 retirement villages supporting approximately 700 residents.

This marks InteliCare’s first commercial deployment within the retirement living sector, which the company has identified as an additional addressable market alongside residential aged care and in-home monitoring.

Financial Position and Quarterly Expenditure

For the March 2026 quarter, receipts from sales activities were AUD 81,000, compared to AUD 121,000 in the prior quarter.

Key expense categories included staff costs of AUD 308,000, administration and corporate costs of AUD 243,000, product Manufacturing and operating costs of AUD 55,000, Research and Development expenses of AUD 24,000, and Advertising and Marketing costs of AUD 12,000.

The company reported cash and cash equivalents of AUD 468,000 as at 31 March 2026.

Payments to related parties during the quarter totalled AUD 95,000, primarily associated with non-executive director remuneration and service agreements.

The company noted that Revenue is expected to improve in the June quarter as deployments progress, while it continues to assess funding requirements in line with its scaling activities.

Continued Progress with Hardi Network

During the quarter, InteliCare continued implementation across the Hardi network, which comprises six facilities. Deployment at the fourth site, Seven Hills, has been completed, with rollout ongoing across remaining locations.

To date, the company has received AUD 930,000 from the total expected AUD 1.7 million in hardware and implementation fees associated with this agreement. Once full deployment is achieved, the contract is expected to generate approximately AUD 400,000 in annual SaaS Revenue.

Monthly SaaS Revenue has already commenced from deployments at Manly Vale and Blacktown, indicating progression toward recurring Revenue generation.

Leadership Transition with CEO Appointment

In March 2026, InteliCare appointed Angus Cameron as Chief Executive Officer. The appointment coincided with the execution of new commercial agreements and the company’s transition toward scaled deployment.

Mr Cameron brings more than three decades of experience across aged care, healthcare, and technology sectors. His previous roles include senior Leadership positions within Philips Healthcare across the United States and Asia Pacific, as well as earlier experience at Ernst & Young in healthcare advisory.

His background includes involvement in digital transformation initiatives, operational improvement programs, and long-term strategic partnerships within healthcare systems.

What This Means for Investors?

The March 2026 quarter update reflects a period of expanded commercial activity for InteliCare, including new multi-year agreements, continued rollout across existing partners, and entry into an additional Market Segment.

The mecwacare agreement represents a notable addition to contracted Revenue, while the Warrigal deployment introduces exposure to retirement living. Progress across the Hardi network and the commencement of SaaS Revenue from certain sites also indicate ongoing implementation.

At the same time, the company’s financial position and expenditure levels highlight the operational requirements associated with scaling deployments and supporting growth initiatives.