ASX listed IoT company, Xped (ASX: XPE), is taking its IoT technology into the disability services market via its recent acquisition JCT Healthcare.
JCT, a technology developer for the disability and healthcare industries, will develop smart hub technology for Disability South Australia that will enable people with a disability to control functions in their home, such as turning on the coffee machine to contacting their case manage from a tablet or phone, Xped said.
Xped has developed an Auto Discovery Remote Control (ADRC) technology to enable any devices incorporating it to be monitored and controlled from a smartphone app, once the phone has been paired with the device using near field communication. It is working to get the technology incorporated into IoT chips and IoT equipment, and has already announced agreements to this effect with Taiwanese chipmaker, Telink and with Intel for the Intel IoT Gateway.
Xped said it would assist JCT by incorporating its ADRC technology into the product development used in the project and had provided $350,000 working capital to JCT to begin expansion of its existing NurseCall business and to assist project development.
Xped said that JCT would move its operations to the new Tonsley advanced manufacturing precinct in South Australia and the company’s R&D, software and hardware development teams had already moved into BioSA’s Thebarton Incubator.
JCT CEO, Eddie Jackson, said: “BioSA have been a supporter of JCT over the past three years through $230,000 funding to develop a web-based messaging system, which is now basis for all our current technologies.”
Xped completed a backdoor listing on the ASX in March 2016 via former geothermal exploration company Raya Group and announced in April that it planned to acquire JCT with the aim of becoming “a major force in the lucrative healthcare technology and communications market.” That acquisition was completed on 4 July.
Xped said it hoped to capitalise on substantial changes to disability care following implementation of the National Disability Insurance Scheme ACT 2013, which will see funding go directly to individuals with disabilities, to spend with the registered service providers of their own choosing.
TMT Analytics now covering Xped
Sydney-based equities research company, TMT Analytics, has initiated research coverage of Xped and has released its first report on the company, giving it a ‘buy’ rating with a price target of $0.24.
“Given XPE’s relatively short commercialisation track record, we have been conservative in our estimates, assuming five semiconductor customers will adopt ADRC in the next eighteen months,” TMT said. “However, given the sheer size of the global IoT market we potentially see strong upside to our numbers if XPE is able to land some of the bigger names in the industrial IoT and consumer electronics space, such as Cisco, Qualcomm, STMicro, NXP/Freescale, Texas Instruments, Sony, Samsung and Panasonic.”
The 22 page report is free, and contains considerable detail about the Xped and related technologies, markets and applications.