Totally Signs £16m Urgent Care Contract Extensions
(TLY ) Urgent Care division has been awarded several contract extensions worth c. £16m in aggregate.
The contracts have been specifically awarded to Totally's wholly-owned subsidiary, Vocare Limited, part of the Urgent Care Division, for the provision of GP Out Of Hours (“OOH”) and Urgent Treatment Centres located in the North East of England and Yorkshire to 30 September 2023.
Wendy Lawrence, CEO of Totally, said: "During the last 18 months we have stood shoulder to shoulder with the NHS as it responded to challenges presented by the Covid-19 pandemic.
As society begins to return to normal, the challenges faced by the NHS continue. To avoid service disruption for thousands of patients, continuity is essential, and we are pleased that we can continue to support our NHS colleagues during this extended period.”
View from Vox
This contract extension secures revenue for the Company until 2023, both improving the financial performance and visibility on earnings for investors.
Clearly contract extensions are a direct reflection of high levels of satisfaction of products and services provided by the Company to date.
Therefore, as one of the UK’s leading national specialist providers of urgent care services, we would expect to see more of these contracts over the next 12 months as the Country prepares to take care of its population in a post pandemic world.
Shares in TLY have doubled in value over the past 12months, the shares have been somewhat volatile, over the past three months, reflecting the uncertainly regarding the future performance of the NHS as we enter the critical winter months.
The shares should trade strongly from here as the UK Government reassures that protecting the NHS remains a key priority for the UK.
Reasons to TLY
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.
Positive Recent Newsflow
Last month, the company said it had 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.
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