TIDMTLY
RNS Number : 1478Y
Totally PLC
07 September 2020
7 September 2020
Totally plc
("Totally", "the Company" or "the Group")
AGM Statement and Trading Update
Totally plc (AIM: TLY), the provider of a range of healthcare
services across the UK and Ireland, announces that, at its Annual
General Meeting being held today, at the Company's registered
office address, Cardinal Square West, 10 Nottingham Road, Derby DE1
3QT at 3.00 p.m., Chairman Bob Holt will make the following
statement:
"We are delighted with how the Group as a whole has swiftly
adapted to the unprecedented challenges faced by our healthcare
services as a result of the pandemic. The demands encountered are
huge and constantly changing, and helping the Government to address
such events is exactly why we established Totally.
"The Group's preparation and planning for delivering services
throughout the winter are well underway (as they always are at this
time of the year) and the winter will likely bring seasonal flu to
add to the complexities of COVID-19. Totally is well prepared for
this and the services established over the last few months to
specifically respond to COVID-19 remain in place and are ready to
be mobilised as required.
"As a provider of frontline healthcare our priority has been to
continue to deliver services whilst ensuring our staff - who have
worked tirelessly throughout these uncertain times - are safe and
supporting them to carry out their roles, all whilst ensuring
national guidance is followed. This has meant changing clinical
practice, ensuring PPE is available to all who need it and
supporting staff to work from home where possible whilst providing
all staff with the technology to do so. For those that cannot work
remotely, the offices have been made 'COVID secure' and have
remained open.
"We are extremely proud to be standing shoulder to shoulder with
the NHS and other healthcare providers in the face of the pandemic.
We continue to work closely with them, learning lessons from how
the virus has been managed and what else can be done in future to
ensure services can be mobilised quickly under additional pressures
and demand, which we are well prepared to manage. The Group's three
divisions offer the flexibility to continue doing this regardless
of how the situation may evolve in the coming months.
"Whilst the way we secure new business has changed, particularly
given that new tenders are not currently available, we expect to
continue growing and expanding, although revenues are unlikely to
grow at previously anticipated rates. The opportunities to expand
existing services, provide new targeted services and work with new
commissioners continue to present themselves, and we remain
confident that Totally will continue to be a key partner for the
NHS and other healthcare bodies across the UK."
Trading Update
T otally has continued to be quick to respond to and address the
unprecedented pressures placed on healthcare services as a result
of the global pandemic and continues to adapt its approach in order
to meet the needs of the NHS and other healthcare providers across
the UK and Ireland. Despite the difficult environment, the Group
has continued to trade strongly and in line with management
expectations. The Company retains a healthy cash position of
c.GBP10.2m as at 31 August 2020 and does not have any debt
financing*.
Totally's strategy has always been, and remains, to support the
NHS in England and other healthcare bodies across the UK and
Ireland, helping to manage surges in demand for patient-facing
services, irrespective of where this demand originates. Whilst the
Group's divisions have all been impacted differently by COVID-19,
Totally continues to provide the highest quality patient care
whilst standing shoulder to shoulder with the NHS.
The Group established its three divisions (being Urgent Care,
Planned Care and Insourcing) to ensure that opportunities and risks
are suitably diversified and that the Group is flexible and able to
respond to fluctuations in demand across all elements of the UK and
Ireland's healthcare sectors. Each division is driven forward by
leaders and teams who are experts in their respective fields and
capable of delivering robust growth in accordance with the Group's
strategy.
Operational Review
The Company provides the following update on current activities
and how COVID-19 has impacted the business across each division.
With uncertainty still prevailing around what services will be
required over the coming months as part of the response to
COVID-19, each division is working alongside healthcare providers
to agree plans for the delivery of services throughout winter and
to implement necessary contingency measures to ensure the Group is
ready to respond as needed during this period. Although the demands
are constantly changing and it is unclear how these will present
themselves going forward, Totally and its businesses remain key
delivery partners to the NHS and other commissioning bodies.
Urgent Care
The Group's NHS 111 services have experienced significant
increases in demand during the pandemic and have been expanded and
adapted accordingly, including through the increased use of
technology, to continue providing high quality patient
consultations and care. The division continues to work with NHS
England to review how services are provided and to prepare for
managing the winter period and any impact from COVID-19. As part of
this it is engaging in the new 'Think 111' campaign, aimed at
encouraging the use of 111 as a first port of call for anyone with
symptoms of the virus.
As members of the public were asked to self-isolate if
symptomatic of COVID-19 and to self-manage pre-existing conditions
at home, Totally's GP Out of Hours services stepped in to support
individuals to do this and to avoid attendance at and admission to
hospitals. 111 contacts and consultations have, as a result,
increased over the last few months and services remain in place
today for managing COVID-19 and other day-to-day healthcare issues.
Additionally, Government guidance led to a considerable reduction
in attendances at Urgent Treatment Centres ("UTCs") and A&E
departments, with staff moving into other areas of the business,
when possible, to ensure continuity of delivery. Notwithstanding,
the Company was pleased to be able to open its new UTC in Watford
(Hertfordshire) on 1 July 2020, originally set to open in April
2020.
Overall, the Urgent Care division has performed well during the
period, responding to increases in demand which has resulted in
increased revenue.
Planned Care
As elective care was scaled down across every hospital in the UK
over the last few months due to COVID-19, the majority of services
within the Group's Planned Care division (outpatients,
physiotherapy and podiatry) gradually reduced. A number of services
continued remotely, however, via the use of technology, such as
video consultations. Members of staff within Planned Care that had
been furloughed due to the temporary suspension and scaling down of
elective care are returning to work as services remobilise. Whilst
the process of remobilisation is underway it will take time, as the
division awaits guidance in relation to the changing clinical
delivery models for services and as primary care premises become
available for service delivery. The impact of COVID-19 on elective
care has led to the delay in the mobilisation of a new contract
secured by About Health in Greater Manchester (as announced on 7
February 2020), which was due to start in April 2020 and is now
expected to commence in October 2020.
Services across the Planned Care division are now beginning to
remobilise, but remain dependant on local commissioners and any
updates to lockdown rules.
Insourcing
The Company's insourcing business, Totally Healthcare ("THC"),
saw all services paused in Spring 2020 as decisions to suspend all
elective surgery were taken in order to prioritise the response to
COVID-19. As a result, waiting lists have grown significantly
across the UK and Ireland. Recruitment for THC's team of clinicians
has continued at pace, and the business is well-prepared to meet
the increased demand and support healthcare providers across the UK
and Ireland to reduce waiting lists, as restrictions around
elective surgeries continue to lift.
Some services in Ireland re-commenced as of June 2020 followed
by further services in England during August. THC is working
closely with commissioners across the UK to mobilise insourcing
services as local circumstances allow.
* Following the adoption of IFRS 16, the Company has reported
operating lease commitments as a debt on its balance sheet however
these do not affect the day to day working capital available to the
Group.
For further information please contact:
Totally plc 020 3866 3330
Wendy Lawrence, Chief Executive
Bob Holt, Chairman
Allenby Capital Limited (Nominated Adviser
& Joint Corporate Broker) 020 3328 5656
Nick Athanas / Liz Kirchner (Corporate
Finance)
Amrit Nahal (Sales & Corporate Broking)
Canaccord Genuity Limited (Joint Corporate
Broker) 020 7523 8000
Bobbie Hilliam
Alex Aylen
Yellow Jersey PR 020 3004 9512
Georgia Colkin
Joe Burgess
Notes to Editors
Totally plc 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.
Totally is committed to pursuing a progressive buy-and-build
consolidation strategy within the fragmented healthcare market and
looks to capitalise on the attractive opportunities that its
disruptive service model offers, to generate value to
shareholders.
Urgent Care
Totally offers a full range of urgent care services via its
subsidiaries, Vocare and Greenbrook Healthcare, two of the largest
urgent care providers in the UK, including:
--NHS 111 services
--Clinical Assessment services
--GP Out-of-Hours services
--Urgent Treatment Centres
www.vocare.org.uk
www.greenbrook.nhs.uk
Planned Care
Totally delivers planned care services, which include community
based Out-Patient Services, Referral Management Services,
Physiotherapy and Podiatry Services. It provides these through its
planned care subsidiaries, About Health, Premier Physical
Healthcare and Optimum Physiotherapy.
www.abouthealthgroup.com
www.premierphysicalhealthcare.co.uk
www.optimum-hcs.com
Insourcing
Launched in October 2019, Totally Healthcare provides bespoke
insourcing solutions across multiple specialities to trusts and
hospitals in the UK and Ireland, reducing waiting lists by
utilising their spare capacity outside of normal working hours and
at weekends.
www.totallyhealthcarelimited.com
More information on Totally plc can be found the following link: www.totallyplc.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGMSSAFIMESSEEU
(END) Dow Jones Newswires
September 07, 2020 02:00 ET (06:00 GMT)
Grafico Azioni Totally (LSE:TLY)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Totally (LSE:TLY)
Storico
Da Apr 2023 a Apr 2024
