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An update from Careteq Ltd. ( (AU:CTQ) ) is now available.
Careteq reported a solid March quarter with customer receipts of $2.2 million and a return to positive operating cash flow, alongside an increase in quarter-end cash to $837,000. The company also completed a $2.2 million two-tranche equity placement, strengthening liquidity during a major strategic transition.
Post quarter-end, Careteq finalised the $5 million sale of Embedded Health Solutions, using about $2.47 million of proceeds to fully repay the EHS vendor loan and associated interest. This divestment allows the group to recalibrate its balance sheet and concentrate on HMR Referrals as its sole marketplace platform.
Management is now reworking the HMR Referrals business plan to drive referral growth, streamline costs and scale the platform with targeted technology upgrades, including staged AI functionality where it adds measurable value. The board is also assessing partnership opportunities and capital allocation priorities to position HMR Referrals as a focused, scalable player in the home medication review sector while maintaining disciplined overheads.
More about Careteq Ltd.
Careteq Limited is an ASX-listed clinical healthtech company focused on innovative solutions for the home care and disability sectors. Its operations now centre on HMR Referrals, a digital marketplace platform in the home medication review space that connects general practitioners, accredited pharmacists, home care providers and disability-sector channels.
Average Trading Volume: 2,783,157
Technical Sentiment Signal: Sell
Learn more about CTQ stock on TipRanks’ Stock Analysis page.