HCF INVESTS $1M INTO INNOVATIVE AUSTRALIAN TECHNOLOGY BUSINESS, CURO

Sydney, 13 September 2016 –  HCF, leading not-for-profit health fund protecting Australians since 1932, is investing $1 million in Curo Technologies Pty Limited, an innovative Australian company that seeks to assist elderly people to live independently for longer.

Founded by Victorian brothers, Matt and Tim McDougall, Curo uses sensor technology to unobtrusively monitor the wellbeing 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 established operations in the US residential aged-care market and is running a number of pilots in Australia. The investment from HCF will help bring Curo’s technology to the wider Australian market place.

Sheena Jack, Chief Strategy Officer at HCF, says, “HCF is constantly on the search for innovative and disruptive ideas that can improve the wellbeing 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, says, “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 wellbeing of seniors in Australia. This investment enables us to continue supporting our growing client base both here in Australia and the US, whilst also ensuring Curo remains a functionally leading technology in the senior wellbeing 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.

Applications for the next round of HCF Catalyst will open later this year. More information can be found on the HCF Catalyst website.

HCF invests $1M into innovative Australian technology business, Curo

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