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HSC Technology (ASX:HSC) strikes Harvey Norman deal
Source: AAP
  • Recently-rebranded HSC Technologies (HSC) has struck a reseller deal with Harvey Norman's (HVN) New South Wales Commercial Division over the HSC Care and HSC Home products
  • Under the deal, Harvey Norman will distribute the HSC Care and HSC Home products to its commercial clients which include builders, developers, and architects
  • HSC Care is an at-home aged-care service and HSC Home is a general smart-home tech product
  • HSC Managing Director, Graham Russell says today's deal has the potential to provide a new stream of revenue to the company
  • Today, HSC shares are trading 25 per cent higher for one cent each, while Harvey Norman shares are almost one per cent lower and worth $3.68

Recently-rebranded HSC Technologies (HSC) has struck a reseller deal with Harvey Norman's (HVN) New South Wales Commercial Division over the HSC Care and HSC Home products.

Under the deal, the retail giant will distribute HSC's tech to its commercial clients, meaning builders, developers, architects, and plumbers have easy access to the HSC products. HSC said it has the potential to expand its footprint in the National Disability sector through existing Harvey Norman contracts.

Formerly called Homestay Care, HSC Technologies changed its name in mid-June to better reflect its position as a tech company as well as an aged-care provider.

Smart homes, smart care

The two products named in the Harvey Norman deal use smart-home tech to provide health care and security services.

HSC Care is designed to help Australians age independently and with dignity. The tech uses artificial intelligence to learn a user's average routine in roughly four weeks and then monitors disruptions to this routine and a user's health to alert carers and health professionals if needed.

The tech can detect falls and send voice-activated alerts to loved ones and medical professionals, meaning elderly Australians can have peace-of-mind ageing at home while remaining connected to others.

The HSC Home range, on the other hand, focuses on general home automation and smart-home tech. Through a mobile app, householders can manage up to 98 devices from anywhere at any time, according to HSC.

The Harvey Norman Commercial Divisions NSW's Manager of Smart Home Automation, Kris Leffler, spoke highly of HSC's tech.

"We have a number of current National Disability Insurance Scheme projects, for which the HSC Care range is a perfect fit," Kris said.

While no new revenue predictions have come from today's deal, HSC Managing Director Graham Russell said the contract has the potential to deliver another revenue stream for the company.

"Harvey Norman Commercial provides access to their national network who specialise in supplying clients with large volume needs such as housing developments, retirement villages, hospitals, schools, and a range of other opportunities potentially needing home automation or telecare solutions,” Graham said.

"More and more end users are demanding better home and care automation solutions and partnering with Harvey Norman Commercial NSW allows us to provide our products and services to a much larger market," he said.

Shareholders seem to like the deal, too, with HSC shares up 25 per cent this afternoon and trading for one cent each. The company has a $16.75 million market cap.

Harvey Norman shares are down 0.94 per cent and worth $3.68.


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