One Health Group

07 May 2024SheffieldHealthcare

One Health Group PLC revenues in excess of £23m and reports 12% increase in referrals in latest Full Year Trading Update

Sheffield-headquartered One Health Group – one of the UK’s leading independent providers of surgical services to the NHS – has this morning released its full trading update for the year ending 31st 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, it has also secured new five-year contracts with two largest of the largest commissioners it works with from April 2024. The two contracts are with Lincolnshire Integrated Care Board (ICB) and South Yorkshire ICB which also acts as One Health’s lead commissioner for Derby and Derbyshire and West Yorkshire ICB’s. They will cover approximately 4,000 new patients and 2,000 surgical procedures per year. Under these agreements, One Health will continue to provide free care to NHS patients over a longer term in Doncaster, Barnsley, Rotherham, Sheffield, Wakefield, Kirklees, Leeds, Bradford and most of Lincolnshire. One Health has worked with the majority of these NHS commissioners for over 10 years.
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 of One Health Group - 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.

Adam added: 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.”