InteliCare Completes $2.05m Placement to Support Scale-Up
| Stock | Intelicare Holdings Ltd (ICR.ASX) |
|---|---|
| Release Time | 7 May 2026, 9:32 a.m. |
| Price Sensitive | Yes |
InteliCare Completes $2.05m Placement to Support Scale-Up
- Raised approximately A$2.05 million through a placement of 93 million new shares
- Funds to support scaling of deployment opportunities and general working capital
- Follows recent landmark $8.8 million mecwacare contract and initial deployment with Warrigal
InteliCare Holdings Limited (ASX: ICR), an Australian technology company commercialising its AI-powered care platform for aged care and retirement living, has received firm commitments to raise approximately A$2.05 million before costs through a placement of 93,000,000 new fully paid ordinary shares at an issue price of $0.022 per share. The placement was strongly supported by new and existing sophisticated and professional investors and provides InteliCare with additional working capital to support the company's scale-up plans for broader commercial deployment. The placement follows a period of significant commercial progress for InteliCare, including the signing of a five-year Master Subscription Agreement with MECWA Limited ('mecwacare') to deploy InteliCare across 22 residential aged care facilities, with a projected total contract value of approximately $8.8 million upon full deployment. The company also has a commercial agreement in place with Hardi Aged Care which has a total contract value of approximately $2.9 million over three years on completion and recently completed its first deployment in the retirement village segment with Warrigal. The funds raised will be used to support scaling for further deployment opportunities and for general working capital purposes.
InteliCare is now moving into a different phase of its development, with large-scale contracts signed, deployments underway and revenue beginning to materially grow. The aged care sector is facing structural pressures from workforce shortages, rising compliance requirements and increasing demand for better care outcomes, and InteliCare's platform has been designed to address these pressures by combining real-time monitoring, data-driven insights, compliance reporting and operational support in a single system. The company believes it is well positioned to build on its recent commercial momentum.