ASX-listed IoT technology company, Xped (ASX: XPE) has expanded the scope of its operations from the development and provision of technology for incorporation into IoT devices to the provision of industry-specific IoT solutions: it is planning to acquire JCT Healthcare Pty Ltd and Jackson Care Technologies Pty Ltd (JCT) with the aim of becoming “a major force in the lucrative healthcare technology and communications market.”
Xped, which recently completed a backdoor listing through Raya Group, has developed an Auto Discovery Remote Control (ADRC) technology designed to enable any devices incorporating it to be monitored and controlled from a smartphone app, via Xped’s ADRC gateway software, once the phone has been paired with the device using near field communication. Xped is seeking to license the technology to chip manufacturers for incorporation into IoT devices.
JCT provides IoT products for hospitals, aged care, independent living and disability care. It has a range of nurse call products: its Wireless1000 series; PoE4000 series and Digi3000.
Digi3000 “provides customers with a low-cost, highly-featured non-talkback nurse call system that can either be used on existing wiring or a structured cabling system.” PoE4000 is claimed to be the world’s first ‘Real IP’ nurse call system that is powered through PoE switches. According to JCT, the system is unique in that each and every device has its own IP address.
Wireless1000 is billed as “a site-wide fully supervised radio system that can either be used as a complementary system to the hardwired Digi3000 and PoE4000 nurse call systems or used by itself as a radio nurse call system.”
Opportunities for Xped from new disability insurance scheme
Xped points out that there will be substantial changes to disability care following implementation of the National Disability Insurance Scheme ACT 2013, which will see funding go directly to the individuals with disabilities. “This opens up new and exciting opportunities to cater for this additional market, and with JCT having provided innovative technology solutions to this industry for the last 10 years should see increase in growth,” the company said.
Xped says the acquisition of JCT will give it immediate revenue from the healthcare sector and see Xped technology integrated into JCT product mix. It will pay $2m cash ($1m on completion and $1m 90 days after completion) and 25 million shares for JCT and will provide $0.5m to JCT for working capital. It will also provide 37,500,000 performance-based shares if the company meets certain milestones. On completion the founder of JCT, Eddie Jackson, will join the Xped group as the CEO of JCT.