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Highlights:
- New Contracts Secured: Totally plc has obtained a £5.0 million insourcing contract and a £1.1 million extension for its NHS 111 services.
- Expansion Plans: The contracts enhance Totally’s presence across the north of England, improving patient access to healthcare.
- Market Response: Shares of Totally surged 11.67% following the announcement, reflecting increased investor confidence.
Healthcare services provider Totally plc (LSE:TLY) has announced the successful acquisition of a new insourcing contract along with an extension of its existing NHS 111 online contract, collectively valued at approximately £6.1 million. This development underscores the company’s commitment to expanding its services across the north of England.
The newly secured insourcing contract, valued at around £5.0 million, will facilitate a significant expansion of Totally's operations in the region. The contract is set to be mobilised immediately, with the services scheduled for delivery by the end of March 2025. This initiative aims to enhance patient access to healthcare services in a timely manner.
In addition to the insourcing contract, Totally has received an extension for its NHS 111 services. This contract, valued at £1.1 million, involves the continuation of existing services that facilitate NHS 111 "Speak to" and online dispositions for a Trust located in the north-east of England. The extension will commence on April 1, 2024, and run until September 30, 2025, ensuring that critical services remain available to patients in need.
Wendy Lawrence, CEO of Totally, expressed enthusiasm regarding the contracts, stating, "These two contracts demonstrate how we can support this for patients across the UK—making sure patients can access help when they need it and increasing capacity so that no one waits longer than they need to for essential treatment." Lawrence’s comments highlight the company’s focus on improving patient outcomes and ensuring timely access to necessary care.
The announcement has had a positive impact on the market, with Totally's shares experiencing an impressive surge of 11.67%, reaching 9.49p as of 10:15 BST. This upward movement reflects investor confidence in the company’s strategic initiatives and ability to expand its footprint within the healthcare sector.
As Totally continues to enhance its service offerings and expand its presence in the UK healthcare market, the new contracts are positioned to play a pivotal role in its growth trajectory. The company remains committed to improving patient care and ensuring that vital healthcare services are readily accessible to all.
