The Board of Totally (AIM: TLY), the provider of a range of out-of-hospital services to the healthcare sector in the UK, is pleased to announce its audited results for the year ended 31 December 2016.
- Significant progress made delivering a progressive ‘buy and build’ strategy, aimed at establishing Totally as a leading provider of ‘out of hospital’ care in the UK
- Three acquisitions successfully completed during 2016:
- Premier Physical Healthcare Ltd (“Premier”), a provider of physical healthcare services to both public and private patients, for up to £6.75 million and subscription to raise £6.2 million completed in April 2016
- About Health Limited (“About Health”), a provider of community based health services under contract to the NHS with a focus on dermatology services, for up to £7.7 million completed in June 2016
- Optimum Sports Performance Centre (“Optimum”), providing physiotherapy to private markets, for up to £650k completed in November 2016
- New and renewed contracts with a value in excess of £1.7m per annum in revenues secured in 2016 by acquired businesses
- Positive start to FY 2017 with five subsidiary businesses continuing to secure new business and renew existing contracts with both the NHS England and private sector organisations
- Oversubscribed placing and open offer completed in March 2017 raising £17.6 million to capitalise on potential acquisition opportunities within the UK out-of-hospital healthcare market
- Continuing to evaluate value accretive acquisition opportunities focused on the UK NHS outsourced healthcare services market, estimated to be worth in the region of £20 billion per year*
- Group turnover increased to £4.0m (2015: £0.6m) exceeding market expectations
- Gross profit increased to £1.4m (2015: £0.4m)
- EBITDA loss of £1.7m (2015: £0.4m)
- Cash position of over £17 million following completion of placing and open offer in March 2017
Wendy Lawrence, CEO of Totally plc, said: “I am pleased to be able to report on the Company’s full year results at a stage when we are preparing to bring our buy and build strategy to the next level following a successful oversubscribed £17.6m placing and open offer in March this year. It was a hugely significant fundraise for the Company and represented a defining moment in our expansion as we continue to build ourselves as a leading out of hospital healthcare services provider in the UK. The positive response we received from investors was incredibly encouraging as we act as a consolidator in the fragmented UK healthcare market and seek attractive opportunities.
“Our first three acquisitions have already been successfully integrated and are generating significant value upside for shareholders. We remain focused on progressively adding to the Group through strategic and value accretive acquisitions in 2017, and look forward to updating the market further to this effect in due course.”
*Source: Centre for Health and the Public Interest: The contracting NHS – can the NHS handle the outsourcing of clinical services? (2015).
Read the full release here: 28.03.17_Totally Plc_Results for the year ended 31 December 2016
Full Annual Report 2016 here: Totally Plc Annual Report & Accounts 2016