Shares in aged care monitoring technology company HomeStay Care (ASX:HSC) have shot up more than 40 percent, hitting a high of 4.1 cents per share following a successful reverse takeover of former energy company Antilles Oil and Gas.
The Perth-based technology hopeful has developed a series on non-intrusive technologies designed to deliver independence to the elderly, while also providing full time monitoring for incidents such as falls or unconsciousness.
Homestay’s unique product suite has clearly struck a chord with investors, particularly with the looming royal commission into aged care set to lift the lid on human-led failures in the sector.
The newly minted company raised the maximum $4 million via the placement of 200 million shares at $0.02 per share in September this year.
The company reports that funds will be put towards a handful of business development activities, including sales and marketing, intelligent home installation services, data management and the identification of new opportunities and markets.
HomeStay was founded in 2016 with a vision to create a technological solution to enable elderly individuals to live independently. Since this time, it has built a cutting-edge range of care-technology products.
Its motion sensing technology can be installed within a home, aged care facility or hospital and uses algorithms to determine regular movement patterns. The sensor can then detect the occurrence of serious incidents, such as falls or unconsciousness, and immediately notify family, carers and staff.
Additional sensors can be used to detect mundane activities, such as the usage of doors or switching of lights and will also send an alert if there is an extended period of inactivity.
Finally, the motion-based devices are supplemented with further biometric sensors, such as wearable heart monitors.
HomeStay’s technology can be operated via an app which is now available for tablet and mobile devices on Android and iOS.