Leading not-for-profit health fund HCF is investing $1 million in Curo Technologies, an innovative Australian company that seeks to assist elderly people to live independently for longer.
Its sensor technology taps into the fast growing Internet of Things marketplace.
Founded by Matt and Tim McDougall, Curo uses unobtrusive sensor technology to monitor the well-being of elderly residents in their own home or in an assisted living environment. Activity data is collected, analysed and then securely reported on mobile devices to care providers and loved-ones.
The technology allows care providers to optimise the quality and efficiency of their care, while providing relatives and friends with real-time reassurance of the well-being of loved-ones.
Curo has also set up shop in the US residential aged-care market and is currently running a number of pilots in Australia. HCF’s money will help bring Curo’s technology to the wider Australian market place.
According to Sheena Jack, Chief Strategy Officer at HCF, “HCF is constantly on the search for innovative and disruptive ideas that can improve the well-being of our members. Curo is a great example of this technological innovation, and HCF has a keen interest in not only the business but the greater goal of enabling people to live independently, for longer.
“Our vision is to improve health outcomes for all Australians. We believe, to achieve this goal, we must continue to innovate. We are delighted to be investing in Curo, which we believe can make a real difference to the lives of Australians — we look forward to watching them grow.”
Tim McDougall from Curo said “We value HCF’s understanding of local systems and markets, which we plan to continue to leverage as we grow our presence in Australia. Most importantly, we are pleased to be partnering with an organisation that is aligned to the values of Curo and that has a genuine interest in improving the well-being of seniors in Australia.”
McDougall said the investment enables Curo to supporte its client base both in Australia and the US, and ensures that Curo remains a functionally leading technology in the senior well-being space.
Curo was one of nine businesses to graduate from the 2016 HCF Catalyst programme. HCF Catalyst is Australia’s first health technology accelerator and is an annual programme, offering Australian start-ups and growing companies the opportunity to develop and accelerate their businesses, and make a lasting impact in the healthcare industry.
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