Totally Secures Multiple New Contracts and Extensions

2 min read | August 29, 2024 11:37 PM AEST | By Team Kalkine Media

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Totally Secures Multiple New Contracts and Extensions — Image source: Shutterstock

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On Thursday, Totally (LSE:TLY), a healthcare services company, announced several new contracts and extensions in England and Ireland, with a total value estimated at approximately £4 million. These agreements mark a significant expansion of Totally’s service offerings in the healthcare sector.

A major highlight is a new insourcing contract with the Saolta Group of Hospitals, valued around £1 million. This contract involves providing ophthalmology outpatient clinics at University Hospital Galway and Sligo University Hospital. These services will be delivered during weekends, a time when the hospitals' facilities are otherwise unused. The contract, awarded through a competitive tendering process, is set to commence in 2024. There is potential for extending the contract into 2025, depending on patient demand and budget considerations.

In addition to this substantial new contract, Totally secured another significant contract and two contract extensions, valued at roughly £3 million in total. The new contract involves providing direct access musculoskeletal (MSK) physiotherapy services in the South East of England. This addition aims to enhance access to essential physiotherapy services in the region.

The two contract extensions include continued delivery of GP out-of-hours (OOH) services in the North East of England and the provision of dermatology clinics in the Northwest of England. These extensions reflect ongoing partnerships and a commitment to maintaining high standards of care across these regions.

Totally's recent contract wins and extensions highlight its growing role in the healthcare sector, demonstrating its ability to secure and manage significant service agreements. The company’s success in this competitive tendering environment underscores its strong market position and operational capabilities.

As of 1115 BST, Totally’s share price saw an increase of 4.43%, reaching 9.66p. This rise in the share price is indicative of the positive market response to the company's successful acquisition of new contracts and the strengthening of its service portfolio. The additional contracts not only bolster Totally’s financial outlook but also enhance its service delivery capacity, positioning the company for continued growth and success in the healthcare sector.

Overall, these developments are expected to contribute positively to Totally’s operational and financial performance, reinforcing its role as a key player in the healthcare services market.

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