Totally (TLY ) said it has been awarded a new contract worth up to £0.85m to provide endoscopy procedures to six hospitals within the Saolta Group of Hospitals in Galway.
The contract was secured by Totally Healthcare, its wholly owned subsidiary and a specialist business in providing insourcing services to the healthcare sector across the UK and Ireland.
The contract, which will see Totally Healthcare provide endoscopy procedures to The Saolta Group of Hospitals in Galway, Ireland, represents the subsidiary’s largest contract to date.
Totally Healthcare will aid six hospitals with the intention of shortening patient waiting lists, which have increased significantly during the COVID-19 pandemic with non-urgent procedures being delayed. The contract starts in July 2021 and runs until March 2022.
CEO of Totally, Wendy Lawrence explained that Totally Healthcare was launched specifically to address the issue of reducing waiting lists in trusts and hospitals across the UK and Ireland “by utilising their spare capacity outside of normal working hours and weekends.”
"The pandemic has put immense pressure on the UK and Ireland's healthcare sector and, as a result, there are significant numbers of patients awaiting treatment. In England alone, there are believed to be around 5 million patients on waiting lists for various procedures,” she said.
The Company highlighted that its Totally Healthcare business has made “significant strides” since its launch in October 2019 and now, further to this new contract in the Republic of Ireland, Totally Healthcare is also operating across England, Scotland and Northern Ireland.
Lawrence added that, "Totally Healthcare benefits from a management team with vast insourcing experience and, leveraging Totally's position as a leading healthcare provider, plus the Group's strong relationships with NHS commissioners in the UK and Health Service Executive (HSE) commissioners in the Republic of Ireland, we expect Totally Healthcare to continue to grow at pace and widen its footprint across the UK and Ireland.”
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In recent months, Totally has hailed its strong progress after delivering healthcare services across the UK and Ireland in partnership with the NHS and other healthcare providers.
In April 2021, the Group, which provides a range of healthcare services across the UK, said it anticipates reporting EBITDA for the year ended 31 March 2021 ‘substantially ahead’ of expectations and its previous record of £4m in underlying EBITDA for the same 2019 period.
Despite all operations having been impacted due to the pandemic, the Group said that with the increased demand for urgent healthcare support, it was well placed to respond quickly.
In the year to 31 March 2021, Totally secured a string of contracts amounting to c.£92.5m.
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.
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.
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.
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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