Company Overview
HomeStay Care Limited ("HomeSay", ASX:HSC) provide the elderly with access to on-demand services, healthcare data management and lifestyle monitoring via its proprietary Internet of Things platform. HomeStay's intelligent homes configuration combines its proprietary software with hardware from Essence Security International Limited ("Essence Group"), an Israeli technology company. Essence Group specialises in "smart living" devices including motion, magnetic and thermal sensors and has 30 million of its devices installed in more than 3 million homes globally.
Automation Australia Pty Ltd (trading as Essence APAC) is an Australian business (not a subsidiary of Essence Group) that is an exclusive distributor for Essence Group in the Asia-Pacific. On the 15th July 2019, HomeStay entered into a binding heads of agreement with Essence APAC to become their exclusive re-seller in Australia, New Zealand and Singapore. As part of the agreement, existing and pipeline revenues from Essence APAC from the 10th July 2019 will also be transferred to HomeStay. Essence APAC annual revenues in FY19 totalled A$1.94m from the health, aged care and disability sectors.
