TIDMOHGR
RNS Number : 9582X
One Health Group PLC
02 May 2023
2 May 2023
One Health Group PLC
('One Health' or the 'Group')
Trading Update
One Health (AQUIS: OHGR), a provider of NHS-funded medical
procedures for patients referred for treatment in Orthopaedics,
Spine, General Surgery and Gynaecology, is pleased to provide the
following trading update for the year to 31 March 2023.
-- Financial results for the year are expected to be slightly
ahead of expectations with strong revenue growth and profitability
ahead of forecasts.
-- Net cash at year end was GBP3.3m, providing substantial
resources for continued investment in growth and cash generation
underpinning the Group's progressive dividend policy.
-- A 16% increase in new NHS patient referrals over the year
sets a new record, sourced from direct referrals from patients
choosing One Health through the NHS e-Referral Service (e-RS) and
increasingly transfers from NHS Trusts' waiting lists.
-- Additional operating theatre capacity is being brought on
stream, as private hospitals make their facilities increasingly
available for One Health NHS patients, as well as a gradual move to
towards weekend operations being undertaken when facilities
allow.
-- Following positive reactions to Pre-Planning submissions,
full Planning Applications are being developed for two new surgical
hubs which will deliver additional operating capacity.
-- A further two locations are being actively explored for more
capacity to come on stream during 2025, subject to planning, and
the Group continues to identify additional operating capacity to
help deliver on Government Waiting List reduction targets.
-- Increasing number of surgeons over a wider geographic area
are seeking to join One Health due to the efficient business model
that has been developed for service delivery on behalf of the
NHS.
-- Average One Health waiting times of 6 to 12 weeks between
first consultation and surgery continue to be industry leading.
With demand continuing to achieve record highs and operating
theatre capacity being rapidly increased, the Group is trading in
line with management expectations for the current year and the
Board has significant growth aspirations for subsequent years,
supported by strong operational cash flows.
The strong performance of the Group and positive outlook has
given the Board confidence to invest additional funds to support
the growth this year and beyond. The Group also intends to
accelerate its growth initiatives in order to deliver on the
national objective of reducing the elective surgery waiting lists,
with no financial cost to the NHS patients served by the Group.
This announcement contains inside information for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
- 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. Prior to the Covid-19 pandemic, on an annual basis, One
Health serviced in excess of 10,000 new patients, through over
30,000 consultations and performed over 7,000 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 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 with
NHS hospitals.
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 2020 was
as follows: Spine 32% Orthopaedics 27% General Surgery 29%
Gynaecology 12%.
Spine and orthopaedics 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 4,870 procedures in the year to 31 March
2022 and the Directors expect the Company to deliver significantly
more procedures in the year to 31 March 2023.
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
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