Talius Group Limited (Talius or the Company) (ASX: TAL) is pleased to announce it has entered into a contract to supply next generation assistive technology solutions to Hato Hone St John (HHSTJ) in New Zealand.
In conjunction with the execution of the MSA, HHSTJ has already placed its first purchase order (PO) for 2,500 units, with an expectation of further purchase orders, going forward. The order only remains subject to HHSTJ completing its user acceptance testing of the equipment which Talius does not anticipate any issue with.
As announced earlier this year, Talius prior to signing the formal MSA, had entered into a LOI with HHSTJ for the supply of Talius’ emergency response systems and related software for use in its telecare business.
As outlined in the announcement (ASX:TAL 9 January 2024), the LOI contemplated a minimum order quantity (MOQ) of 30,000 units in total over approximately an 18 month period. While the terms of the MSA does not formally speak to an MOQ, Talius based on its dealings with HHSTJ has reasonable expectations that it will receive orders for at least 15,000 units over the remainder of 2024. Talius anticipates that it will receive additional orders from HHSTJ through 2025.
Gross revenue for the initial 2,500 units is forecast to be approximately $750,000. Delivery of the order is anticipated to commence in the next quarter, and additional purchase orders are to be rolled out across the year.
Rounding out and supporting the solid start to the year Talius is also pleased to report that it has additionally received purchase orders from ADT, Feros Care and Bolton Clarke.
All services under the PO’s will be delivered via Talius’ Smart Care Platform as a subscription service.
Graham Russell, Managing Director stated “We are very pleased to have signed an MSA with Hato Hone St John given its size and standing in the New Zealand market as is evidenced by the Commerce Commission New Zealand approval requirement, which it has been awarded. We are also excited to have received the first purchase order under the MSA, which is material to Talius and underpins what should be a long and committed partnership between the parties.
Having also received additional purchase orders from other key partners in ADT, Feros Care and Bolton Clarke, it is very encouraging for Talius as our strong sales pipeline starts converting and we path towards profitability. Having a substantial number of subscriptions coming online, in addition to our existing subscriptions not only provides for strong and stable revenue growth but we are now at a stage where we have a critical mass of data which can also be further commercialised for the sector.”
About Talius Group Limited
Talius provides a suite of technology enabled care solutions to the aged and disability sectors across multiple verticals, including retirement living, residential aged care, home, and community settings to improve the quality of life, later in life.
Talius’ Software as a Service (SaaS) data analytics platform Talius Smart Care combines smart sensors with AI machine learning that delivers automated actions. Talius links awareness, analysis, and action through one platform allowing the care model to move from spot check care to sense respond care. Nursing staff can switch their focus from data collection to building a human connection. Most importantly, residents benefit from a new era of autonomy and dignity.
Talius helps protect and connect our elderly and people with disabilities with a scalable healthcare technology platform integrated with leading third-party providers to ensure end-to-end solutions for Connected Health.
