9 January 2018
Totally plc
("Totally" the "Group" or the "Company")
Business update
Totally plc (AIM: TLY), the provider of a range of out-of-hospital services to the healthcare sector in the UK, today issues an update on the Group's business activities.
In February 2017, the Company raised £18 million with the primary focus of delivering a progressive "buy and build" strategy within the UK's very fragmented healthcare market. Totally now enters 2018 with a strong net cash position of £11.1m as at 31 December 2017* which is an improvement on the previously anticipated figure of £8m that was announced on 30 November 2017.
The Company's current business opportunity pipeline is strong and Totally continues, at pace, to ensure all opportunities for growth and efficiency are maximised across the enlarged Group. The Company is pleased to announce that, as planned, Vocare successfully launched its NHS 111 service for Cornwall and the Scilly Isles on 30 November 2017. Additionally, earlier today the Company announced that Vocare had been awarded a key contract worth approximately £3m per annum with NHS South Staffordshire Clinical Commissioning Groups.
The Directors believe that Totally is well placed to take a significant market share of the outsourced integrated urgent care market and to further develop innovative models to support the delivery of key NHS national performance targets. In August 2017, the NHS published its service specification for the commissioning of Integrated Urgent Care Services and as one of the largest providers of urgent care in the UK, Vocare is one of the few providers that can offer this integrated service.
The Board of Totally is pleased to report that 15 of the 21 sites inspected by the Care Quality Commission (CQC) have been rated Good demonstrating Vocare's continued commitment and focus on providing a high standard of care and quality. The CQC is an independent regulator of all health and social care services in England and inspects and rates hospitals, care homes, GP surgeries, dental practices and other care services to make sure they meet required standards of quality and safety.
Wendy Lawrence, CEO of Totally plc, said: "We acquired Vocare at the end of October 2017 recognising the clear strategic and financial benefits that it would bring to the Group. I am really pleased with the efforts made across the Vocare business since the acquisition. Significant progress has been made in a very short space of time, preparing Vocare so that it can continue to support the wider healthcare community, particularly during the crucial winter season. We are delighted to have already completed several planned corporate changes to ensure we are best positioned for growth."
* based on unaudited Group management accounts
- ENDS -
For further information please contact:
Totally plc |
020 3866 3335 |
Wendy Lawrence, Chief Executive Bob Holt, Chairman |
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Allenby Capital Limited (Nominated Adviser & Joint Broker) |
020 3328 5656 |
Nick Athanas Virginia Bull James Thomas |
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Cenkos Securities plc (Joint Broker) |
020 7397 8900 |
Alex Aylen - Sales Bobbie Hilliam - Corporate Finance |
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Yellow Jersey PR |
0776 693 2524 |
Georgia Colkin Joe Burgess |
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Notes to Editors
Totally plc aims to become a leading 'out-of-hospital' healthcare service provider in the UK, helping to address some of the biggest challenges faced by the UK healthcare sector.
By working to deliver preventative and responsive care through its subsidiaries across multiple disciplines, Totally's goal is to improve people's health, reduce healthcare reliance, re-admissions and emergency admissions.
Totally, via its subsidiaries, operates within the UK's outsourced healthcare market, estimated to be worth in excess of £20bn per year for the NHS alone. Out-of-Hospital services include care in the community, GP surgeries, patients' homes, prisons and other public sector organisations, places of work as well as mobile locations and urgent care solutions.
The Company is currently engaged in delivering a progressive 'buy and build' consolidation strategy within the UK's fragmented healthcare market and raised £18 million in February 2017 to capitalise on the attractive opportunities that its disruptive, outcome-based, outsourced healthcare service model offers, to ultimately deliver value to shareholders as it continues to build critical mass in 2017 and beyond. On 6 October 2017, the Company announced its proposed acquisition of Vocare Limited, a UK urgent care specialist providing services to 9.2 million patients per year, for up to £11.0 million.
www.totallyplc.com
Premier Physical Healthcare and Optimum Physiotherapy - occupational physiotherapy to NHS, prisons and the police force as well as private clients
Wholly owned subsidiaries of Totally plc, providing a comprehensive range of treatments and advice for musculoskeletal injuries and conditions. The businesses deliver physiotherapy and podiatry to NHS patients, have contracts with various police forces and prison sites and provide occupational health and ergonomic services to corporate and private clients. Totally completed the acquisition of Premier Physical Healthcare Limited on 1 April 2016 and Optimum Sports Performance Centre Limited on 14 November 2016.
www.premierphysicalhealthcare.co.uk
www.optimum-hcs.com
About Health Limited - provider of community based dermatology services and referral management services
A wholly owned subsidiary of Totally plc and a leading provider of dermatology and referral management services to the NHS in the UK. About Health has been providing community based health services under contract to the NHS since 2009 and the company is CQC registered. Totally completed the acquisition of About Health Limited on 15 June 2016.
www.abouthealthgroup.com
Vocare Limited - leading UK urgent care provider
A wholly owned subsidiary of Totally plc, the Vocare Group is one of the leading national specialist providers of urgent care services in the country. Headquartered in Newcastle upon Tyne, it provides innovative healthcare services to approximately 9.2 million patients across the UK through urgent care centres, GP out-of-hours services, integrated urgent care centres and the NHS 111 service - working in close collaboration with the NHS and other healthcare providers in local areas nationwide. Totally completed the acquisition of Vocare Limited on 24 October 2017.
www.vocare.org.uk
Totally Health - clinical health coaching via B2B model to the NHS and the private sector as well as D2C health coaching to individuals and families
A wholly owned subsidiary of Totally plc, provides an innovative model of medically driven, and personalised Clinical Health Coaching to educate patients and give them confidence to self-manage their conditions. The service supports the management of long term conditions in patients such as chronic obstructive pulmonary disease (COPD), diabetes and wider wellness issues such as smoking cessation and obesity management.
www.totallyhealth.com
www.myclinicalcoach.com
