Vox Markets Logo

Totally secures contracts extensions worth £9.8m

11:24, 3rd December 2020
Francesca Morgan
RNS Newswire
TwitterFacebookLinkedIn

Totally (AIM:TLY FOLLOW) announced that it has received a number of contract extensions for Clinical Assessment and GP Out of Hours Services and the provision of Urgent Treatment Centres across the North East of England, the Midlands and Greater London (the "Contracts").

In aggregate, the healthcare service provider in the UK and Ireland said the contracts awarded to Totally's wholly-owned subsidiaries Vocare Limited and Greenbrook Healthcare Limited, which together form Totally's Urgent Care Division, are worth a total of c.£9.8m. 

“I am pleased to report on further contract extensions across our Urgent Care Division which, as reported at our interim results, has reacted swiftly in the face of unprecedented levels of demand during the ongoing pandemic,” said Wendy Lawrence, CEO of Totally.

Commenting on Totally’s progress, Lawrence added, “Staff have been working tirelessly, delivering existing and new face to face and remote healthcare services over the last few months and I am extremely proud to see this hard work continue to deliver results.

Totally continues to adapt to the ever-changing requirements of the NHS and end-patients in this unpredictable environment, and we are confident that we are well positioned to meet any future fluctuations in demand, particularly as we enter the busy winter period."

Shares in Totally have increased by over 8% in the past month to open 8.75% higher to 21.75p this morning following the announcement. 

TLY price chart

Reasons to Follow Totally

Totally is healthcare service provider in the UK and Ireland, working in partnership with the NHS and other providers to deliver healthcare services through its divisions of Urgent Care, Planned Care, and Insourcing. 

Unique Market Position 

Totally has established itself as a component of the provision of healthcare in Ireland the UK. Its Urgent Care, Planned Care and Insourcing services have all secured significant contracts across its target markets and now class themselves as ‘key partners’ to the NHS. 

Resilient Operating Model 

Urgent Care, Planned Care and Insourcing services all operate in complementary market segments at different parts of the healthcare cycle. In its 1H20 results for the six months ended 30 September 2020, the group demonstrated increasing revenue, service-led margins and a strong operating cash flow to support a progressive dividend policy for shareholders.

Fragmented Industry plays to M&A Strategy 

Totally said it is committed to pursuing a progressive ‘buy-and-build’ consolidation strategy within the fragmented healthcare services industry. It has completed several acquisitions and continues to evaluate attractive opportunities that its disruptive service model offers.

Totally is a leading healthcare service provider in the UK and Ireland, working in partnership with the NHS and other providers to deliver healthcare services through its divisions of Urgent Care, Planned Care, and Insourcing. 

Follow News & Updates from Totally here: FOLLOW

TwitterFacebookLinkedIn

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Recent Articles
Watchlist