One Health Group plc (AQSE:OHGR), the independent provider of free, high quality NHS care for patients referred through ‘Patient Choice’ for treatment in Orthopaedics, Spine, General Surgery and Gynaecology, has provided the following trading update for the year to 31 March 2024.
Year to 31 March 2024
· Financial results for the year are expected to be in line with expectations with revenue in excess of £23.0m (2022/23: £20.5m) ahead of market forecasts and last year.
· Net year end cash was £4.7m (2022/23: £3.3m). The cash generation of the Group provides substantial resources for continued investment in growth and underpins the Group’s progressive dividend policy.
· The Group experienced a 13% increase in new NHS patient referrals to over 13,000 for the year, setting another record.
· As previously announced, we have secured new five-year contracts with our two largest commissioners from April 2024. These agreements replace the historic annually renewed contracts representing a strong indication of the value of the services provided by One Health to the NHS.
Adam Binns, Chief Executive Officer, said:
“One Health Group has continued to perform well over the last financial year, ahead of last year, and setting another new record for new NHS patients choosing One Health through Patient Choice. In addition, we continued to support five NHS Trusts with their internal patient waiting lists, further reducing the pressure on the NHS. The record number of new surgeons applying to provide their services to us is testament to the benefits that the Group provides to the wider community of NHS patients.
“We look forward to the future with confidence, as our business model for providing surgical care, free at the point of delivery, becomes more widely adopted to reduce the pressure of waiting lists, supported by the ongoing NHS national media campaign to promote Patient Choice.”
