Homestay Care Ltd - Purchase Orders for Over $1M Received from Aged Care & Housing Group
Homestay Care Ltd (ASX:HSC)

Purchase Orders for Over $1M Received from Aged Care & Housing Group


What's happened?

HomeStay Care Limited (ASX: HSC, “HomeStay”) announced that they have received a further purchase order for approximately $550,000 from the Aged Care & Housing Group Inc (“ACH Group”), relating to a further three sites of residential care in South Australia (“Project”).

What are the details?

As announced on 28 January 2020, HomeStay was awarded a tender to provide assistive technology to nine ACH Group sites in South Australia. HomeStay previously announced the receipt of a purchase order for approximately $500,000 for the first site at Kapara in Glenelg and this subsequent Purchase Order relates to a further three sites.

What does this announcement mean?

Erik Bergseng CFA® from Mawson Graham provides perspective on this recent announcement.
Erik Bergseng CFA®
Written by Erik Bergseng CFA®
Published Feb 13, 2020

HomeStay Care continues to demonstrate strong revenue growth which we believe is a result of the new commercial focus that Managing Director Russell Graham brings to the company. We also believe the end-to-end and plug-and-play nature of HomeStay Care's technology is being well received by the market. Additional evidence of this is the recent Bolton Clarke announcement. Bolton Clarke is one of Australia's largest not-for-profit healthcare and independent living service providers, and they also have a strong reputation for adopting effective aged-care technology. For these reasons we think HomeStay Care is well-positioned to continue growing its top line in this large and under-serviced market.

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Mawson Graham
Mawson Graham

Managing Director's Summary

Graham Russell

“We are pleased to receive another purchase order from the ACH Group to rollout a further three sites. We are confident that the Essence APAC IoT technology assists the improvement of the lives of ACH Groups aged residents, and our team is currently working to deliver our technology to the Kapara site and we look forward to the successful roll out of all sites in the near future"

Graham Russell
Managing Director, Homestay Care Ltd

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