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RNS Number : 8700Q
One Health Group PLC
23 October 2023
23 October 2023
One Health Group PLC
('One Health' or 'the Group')
Trading Update
One Health (AQUIS: OHGR), the independent provider of free high
quality NHS care for patients referred for treatment in
Orthopaedics, Spine, General Surgery and Gynaecology, is pleased to
provide the following trading update for the six months to 30
September 2023.
-- Financial results for the first six months to 30 September
2023 are expected to be in line with expectations, with the second
half of the year historically being the predominant period for
surgical activity.
-- Revenue for the first half of the year was more than GBP11
million being an increase of more than 12% on the prior year (H1
2022/23: GBP9.8m)
-- Cash at the half year end of GBP3.6m (H1 2022/23: GBP2.7m)
provides substantial resources for continuing investment in growth,
with operating cash generation underpinning the Group's progressive
dividend policy.
-- An increase of 12% in new patient referrals compared to H1
2022/23, sourced from Patient Choice through NHS e-Referrals
(e-RS), NHS Trust waiting list transfers and direct referrals from
NHS Trusts.
-- 15 new clinicians joined the Group to support growth in new
and existing geographical areas, an increase of 19%.
-- Additional surgical theatre capacity brought onstream at
existing locations and new capacity secured at a facility in North
Yorkshire.
-- The Group continues to work closely with NHS Trusts, with two
new contracts awarded during H1 to deliver waiting list reduction
and direct referrals.
-- Following pre-application consultations, a full planning
application will be submitted early in H2 for a new surgical hub
which will deliver additional operating capacity in 2025. Further
locations are being actively pursued.
Adam Binns, Chief Executive Officer, said:
"One Health Group has performed well in the first six months of
the financial year, ahead of last year with increasing numbers of
patients choosing One Health through Patient Choice. In addition,
we have started supporting two more Trusts (Barnsley Teaching
Hospitals & Derby & Burton NHS Foundation Trust) with their
internal patient waiting lists, further reducing the pressure on
the NHS waiting list. Also, growing numbers of surgeons are
applying to work with us, having seen the benefits that the Group
provides to the wider community.
"We look forward to the future with confidence, as our business
model for providing surgical care, free at the point of delivery,
becomes more widely recognised for helping to reduce the pressure
of waiting lists on the NHS supported by the ongoing national media
campaign to promote Patient Choice."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. Which is part of the United
Kingdom domestic law pursuant to the Market Abuse (Amendment) (EU
Exit) Regulations (SI 2019/310) ("UK MAR").
The directors of One Health accept responsibility for this
announcement.
- Ends -
For further enquiries:
One Health Group PLC Via Square One Consulting
Derek Bickerstaff, Chairman
Adam Binns, CEO
Oberon Investments Limited Tel: +44 (0) 203 179 5300
AQSE Corporate Adviser and Broker
Nick Lovering
Mike Seabrook
Square 1 Consulting Limited
David Bick Tel: +44 (0) 207 929 5599
+44 (0) 7831 381201
Notes to Editors:
One Health engages over 100 NHS Consultants who sub-specialise
in the various surgeries offered by the Company, through a growing
network of community-based outreach clinics and surgical operating
locations. In the year to March 2023 One Health serviced almost
12,000 new patients, through over 29,000 consultations and
performed 5,790 surgical procedures. One Health uses surgeons and
anaesthetists that are mostly employed by the NHS, on a consultancy
basis. It currently works with over 100 professionals across 7
hospitals and over 30 CQC registered clinics.
One Health's activities are focused on areas where the patient
needs are under-supplied by the local NHS service as well as
locations where population density is relatively high, and the
level of private medical insurance is relatively low. One Health
has also sought to expand geographically from its Head Office in
Sheffield into neighbouring counties, which meet the required
criteria. Currently, the Company's activities are focused in
Yorkshire, Lincolnshire, Derbyshire, Nottinghamshire and
Leicestershire. Revenue in the year to 31 March 2023 was derived
from 60 Clinical Commissioning Groups in addition to contracts
directly with NHS hospitals to manage their internal waiting
lists.
One Health's business model has focused to date on four main
areas: being Spine, Orthopaedics, General Surgery and Gynaecology.
The split of inpatient procedures in the year to 31 March 2023 was
as follows: Orthopaedics 44% Spine 27% General Surgery 22%
Gynaecology 7%.
Orthopaedics and Spine are particularly attractive areas for One
Health as the Directors believe that they benefit from powerful
growth drivers in terms of an ageing demographic, physical
inactivity and an increasing proportion of the population being
categorised as obese. Within orthopaedics, the most common
surgeries performed by One Health are knee and hip
replacements.
One Health delivered 5,790 surgical procedures in the year to 31
March 2023 and the Directors expect the Company to deliver
significantly more procedures in the year to 31 March 2024.
One Health was admitted to trading on Aquis in November 2022
with the ticker OHGR.AQ.
For additional information please visit
https://www.aquis.eu/companies/OHGR
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END
NEXFLFVRIILIFIV
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