Perth based HomeStay Care (ASX: HSC), a company providing technology to support old people living in their own homes, has been appointed the exclusive reseller in Australia, New Zealand and Singapore of technology from Israel based Essence Security Solutions, which provides smart home technology for aged care, security and the general ‘smart living’ market.
HomeStay currently uses Essence technology in its intelligent home solution, in particular the home monitoring sensors and emergency pendant that detect movement (or lack of movement) in the home and provide access to emergency services via the hub and call centre.
The HomeStay Intelligent Home platform uses data analysis, as well as human monitoring, to determine residents’ routines and detect anomalies. The company says these early insights allow for better decision-making by care providers and families, allowing more focused service, minimising unnecessary care and facilitating welfare checks in a more responsive manner.
HomeStay says its agreement is with “Automation Australia Pty Ltd trading as Essence APAC…a Queensland-based technology company which develops software and imports high quality solutions from the Essence Security International Ltd (Israel technology company).”
Essence of the agreement
The Essence Security International website shows an “Essence APAC representative office” in Toowoomba, Queensland.
Essence APAC, HomeStay says, “is an exclusive distributor in Asia-Pacific of health, safety, automation and security solutions for Essence Security International. … Essence APAC also owns all rights to key integration software solutions required for the Essence Group platforms to communicate to local monitoring services.”
It says the Essence suite of ‘smart living’ solutions includes a wide range of technology such as discreet personal emergency systems, motion, magnetic and thermal sensors that analyse the activities of daily living…[and that] interface with the Homestay software platform to provide daily dashboard reporting and connectivity to family and carers.”
HomeStay says it will use Essence APAC products to configure its intelligent homes solution and will be the exclusive reseller of the Essence APAC devices for healthcare-associated applications, and that Essence APAC will provide ongoing support services to HomeStay including executive sales, technical, logistics and advisory support services.
Essence APAC also owns all rights to key integration software solutions required for the Essence Group platforms to communicate to local monitoring services.
Essence Security International is a privately held founded in 1994 by its chairman and CEO, Dr Haim Amir. It claims an installed base of 30 million systems deployed and used by tier-1 service providers worldwide.
Four percent royalty
Under the agreement HomeStay will pay Essence APAC a four percent royalty on all sales generated and to retain exclusivity, must purchase a minimum of $US1 million per annum of Essence APAC during the three-year term. It says the agreement should generate annual revenues of about $1.5m, after payment of royalties and service charges if it can maintain sales at the level being achieved by Essence APAC.
HomeStay says the agreement enables it to capitalise on the traction made by Essence APAC in the aged care sector in the region covered and to expand healthcare offerings further in the disability sector.
HomeStay CEO, Philippa Lewis said the agreement represented a strategic opportunity for HomeStay, providing the foundation for access into new markets and potential revenue growth.
“The demand for our technology is growing and our relationship with Essence APAC is pivotal in securing expanded footprint across the multiple verticals. This agreement will further our objective to provide greater choice to our customers who seek smart-care solutions, that make a meaningful impact on their safety, wellness and independence.”
