One Health Group
PLC
("One
Health" or "the 'Group")
Full Year Trading
Update
One Health Group (AQSE: OHGR), the independent
provider of free, high quality NHS care for patients referred
through 'Patient Choice' for treatment in Orthopaedics, Spine,
General Surgery and Gynaecology, is pleased to provide the
following trading update for the year to 31 March 2024.
Year to 31 March 2024
·
Financial results for the year are expected to be in line
with expectations with revenue in excess
of £23.0m (2022/23: £20.5m) ahead of
market forecasts and last year.
·
Net year end cash was £4.7m (2022/23: £3.3m).
The cash generation of the Group provides substantial resources for
continued investment in growth and underpins the Group's
progressive dividend policy.
· The
Group experienced a 13% increase in new NHS patient referrals to
over 13,000 for the year, setting another record.
· As
previously announced, we have secured new five-year contracts with
our two largest commissioners from April 2024. These agreements
replace the historic annually renewed contracts representing a
strong indication of the value of the services provided by One
Health to the NHS.
Adam Binns, Chief Executive Officer, said:
"One Health Group has continued to perform well
over the last financial year, ahead of last year, and setting
another new record for new NHS patients choosing One Health through
Patient Choice. In addition, we continued to support five NHS
Trusts with their internal patient waiting lists, further reducing
the pressure on the NHS. The record number of new surgeons applying
to provide their services to us is testament to the benefits that
the Group provides to the wider community of NHS
patients.
"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 adopted to reduce the
pressure of waiting lists, supported by the ongoing NHS national
media campaign to promote Patient Choice."
Ends
About One
Health Group
One Health engages over 100 NHS Consultants who
sub-specialise in the various surgeries offered by the Group,
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 seven 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, South Yorkshire into neighbouring counties,
which meet the required criteria. Currently, the Group'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 orthopedics, the most common
surgeries performed by One Health are knee and hip
replacements.
*(https://www.onehealth.co.uk/investors)
The Directors of
One Health Group plc accept responsibility for the contents of this
announcement.
For more information, please
contact:
One Health Group
plc
via Square1
Consulting
Oberon Capital - AQSE
Corporate Adviser and Broker +44 203 179
5300
Nick Lovering
Mike Seabrook
Adam Pollock
Square1
Consulting
+44 207 929
5599
David
Bick
+44 7831 381201
