AGM Statement (8804D)
May 23 2012 - 2:00AM
UK Regulatory
TIDMHLO
RNS Number : 8804D
Healthcare Locums PLC
23 May 2012
HEALTHCARE LOCUMS PLC
("HCL" or "the Company")
AGM STATEMENT
Peter Sullivan, non-executive Chairman of Healthcare Locums PLC,
will make the following statement at the Company's Annual General
Meeting being held later today:
"I am pleased to announce that the new management team leading
your Company has made significant progress in ensuring the
stabilisation of the business. In the UK, the transformation of the
Company to one that puts the satisfaction of its customers'
requirements at the heart of its business is well underway.
Provision of locums to the NHS through framework agreements is now
the normal way of doing business.
In the UK, the new national and regional NHS buying frameworks
are expected to be awarded late in the 3rd quarter this year. These
framework agreements extend across all categories of health and the
procurement processes are running some 3 months later than
originally expected. Delays in the tendering process will have an
impact on the timing of signing supply agreements which will affect
our rate of growth this year. The new buying frameworks should
provide the momentum for Trusts to review and refresh their
existing supply chain and open up new opportunities for HCL. To
date only the London Procurement Program (LPP) framework agreement
for the supply of Medical Locums has been awarded. I am pleased to
report that HCL has been selected as a framework supplier on this
framework and the implementation process has begun.
We have restructured our UK Business, investing in people,
processes and systems to position the business as a major supplier
to the NHS with a quality led offering. Although this has increased
costs, it was essential to build a widely skilled management team
that is capable of delivering the company's strategic vision.
Alongside these changes we have reorganised our UK Business
Development function together with our Recruitment and Compliance
functions, to mirror our clients' demands and to facilitate
relationships at national, regional and local levels. We are also
investing in software-led solutions - HCL Clarity - that will
deliver significant savings to our customers by providing
visibility and control to reduce the cost of agency spend and
optimise the permanent workforce, without compromising the quality
of care.
Our Australian business, Healthcare Australia, is making good
progress and trading has been encouraging. In Australia
opportunities for organic growth exist, in particular, by the
further development of our nursing agency business in the Eastern
states and the national roll out of the existing doctor locum
business although the latter has been delayed by a change in HCA's
management for personal reasons.
As shareholders will be aware, the Board has previously
announced two major claims against the Company, one being a
tribunal claim from the former Executive Vice Chairman Kate
Bleasdale, and the other being a US action from a number of
shareholders. The Board is awaiting the outcome of the tribunal
claim and a decision is expected during summer 2012.
The Board is currently taking legal advice upon the way the
Company should react to the institution of the proceedings in the
US.
There are challenges ahead; however the reengineering of the
business is well underway. We have a new professional business
leadership team in place which has already brought significant
stability to the Company, and which is implementing new growth
strategies and innovative services to generate long-term
improvements in financial performance. The Company has maintained
its position as a leading healthcare recruitment business in both
the UK and Australia, and the Board remains confident about the
future opportunities for the business.
For further information please contact:
Healthcare Locums plc
Stephen Burke, Chief Executive Officer
020 7451 1451
Investec Bank plc
Gary Clarence/Patrick Robb/Daniel Adams
020 7597 5970
Pelham Bell Pottinger
David Rydell/Emma Kent/Duncan Mayall/Charlotte Offredi
020 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMATMFTMBMTBFT
Healthcare Locums (LSE:HLO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Healthcare Locums (LSE:HLO)
Historical Stock Chart
From Jul 2023 to Jul 2024