TIDMOHGR
RNS Number : 4168H
One Health Group PLC
24 November 2022
24 November 2022
One Health Group plc
("One Health" or the "Company")
Admission to trading on the AQSE Growth Market and Fundraise
One Health Group plc (AQSE: OHGR), a provider of NHS-funded
medical procedures, announces its first day of dealings and
Admission of its ordinary shares to trading on the Apex segment of
the AQSE Growth Market ("Admission") at 8.00am today under the
ticker "OHGR" and ISIN GB00BNNT0595.
The Company has undertaken a Placing and Subscription which have
raised, in aggregate, gross proceeds of GBP1,555,000, at a price
per share of 150 pence (the "Issue Price"). On Admission, the
Company will have 10,033,333 ordinary shares in issue, which
implies a market capitalisation of the Company of GBP15.05 million,
at the Issue Price.
Key Highlights
One Health
-- One Health is a provider of medical procedures, focused on
four specialties; Orthopaedics, Spinal Surgery, General Surgery and
Gynaecology.
-- The medical procedures provided are funded by the NHS on NHS
national tariff rates and are therefore delivered free to the
patient at the point of delivery.
-- One Health is a part of the local NHS supply chain, operating
as part of the 'Patient Choice' initiative, which was introduced by
the National Health Service Act in 2006.
-- Under this policy, patients whose GPs have referred them for
potential surgery, have the right to choose their own treatment
provider for certain procedures. This may be the NHS, a voluntary
provider, or companies operating in the independent sector.
-- One Health achieved revenue of GBP9.7 million in the six
months to 30 September 2022, at a gross margin of 16.7%, and has
seen new patient referrals 11% above the level experienced in the
year to 31 March 2020 (being the last year prior to the COVID-19
pandemic)
-- Since 2012 the Company has paid out a total of GBP1.6m in
dividends and, subject to its financial position and obligations,
intends to pay up to 50% of annual profits after tax in future.
-- One Health is asset light and highly cash generative. As at
31 March 2022, net cash was GBP3.68 million.
Admission Details
-- The Placing and Subscription were conducted at a price of 150
pence per ordinary share and, will have a market capitalisation of
approximately GBP15.05 million.
-- The Company issued 33,333 shares at 150 pence per share, pursuant to the Subscription.
-- The net proceeds of the Placing and the Subscription, to be
received by the Company, following repayment of indebtedness by the
One Health Group EBT Trustee, will be applied to working capital
for the development of the Company and to fund irrecoverable
VAT.
-- The Company's Admission Document is available to view on its
website at www.onehealth.co.uk/investors
-- Admission to the AQSE Growth Market is expected to take place at 8.00 a.m. (UK time) today.
-- On Admission, the Company will have a free float of approximately 26.8%.
Oberon Capital acted as the Company's AQSE Corporate Adviser and
Broker in relation to the Admission and the Placing and
Subscription, and is acting as the Company's AQSE Corporate Adviser
and Broker from Admission. Oberon Capital is a trading name of
Oberon Investments Limited.
Derek Bickerstaff, Chairman of One Health, said:
"We are delighted at becoming a publicly traded company by
joining the AQSE Growth Market. One Health has currently achieved,
and continues to achieve, revenue growth through the use of
facilities within existing private hospitals and excess capacity
offered by NHS facilities and the growing awareness of its services
among medical practitioners and patients in our areas of
operation."
Adam Binns, Chief Executive Officer of One Health, added:
" We are also targeting additional surgeons that are looking to
acquire AQP status and/or increase their own potential through use
of the incremental infrastructure offered by the Company . This
includes the provision of medical procedures through surgical hubs
which is in line with government policy and is strongly supported
by the NHS and the Royal College of Surgeons. "
For more information, please contact:
One Health Group plc +44 114 250 5510
Adam Binns, Chief Executive Officer
Oberon Capital - AQSE Corporate Adviser and Broker +44 203 179
5300
Nick Lovering
Mike Seabrook
Adam Pollock
Square1 Consulting +44 207 929 5599
+44 7831 381201
David Bick
About One Health Group
One Health engages over 100 NHS Consultants who sub-specialise
in the various surgeries offered by the Company, through a growing
network of community-based outreach clinics and surgical operating
locations. Prior to the Covid-19 pandemic, on an annual basis, One
Health serviced in excess of 10,000 new patients, through over
30,000 consultations and performed over 7,000 surgical procedures.
One Health uses surgeons and anaesthetists that are mostly employed
by the NHS, on a consultancy basis. It currently works with over
100 professionals across 7 hospitals and 20 CQC registered
clinics.
One Health's activities are focused on areas where the patient
needs are under-supplied by the local NHS service as well as
locations where population density is relatively high, and the
level of private medical insurance is relatively low. One Health
has also sought to expand geographically from its Head Office in
Sheffield into neighbouring counties, which meet the required
criteria. Currently, the Company's activities are focused in
Yorkshire, Lincolnshire, Derbyshire, Nottinghamshire and
Leicestershire. Revenue in the year to 31 March 2022 was derived
from 40 Clinical Commissioning Groups in addition to contracts with
NHS hospitals.
One Health's business model has focused to date on four main
areas: being Spine, Orthopaedics, General Surgery and Gynaecology.
The split of inpatient procedures in the year to 31 March 2020 was
as follows: Spine 32% Orthopaedics 27% General Surgery 29%
Gynaecology 12%.
Spine and orthopaedics are particularly attractive areas for One
Health as the Directors believe that they benefit from powerful
growth drivers in terms of an ageing demographic, physical
inactivity and an increasing proportion of the population being
categorised as obese. Within orthopaedics, the most common
surgeries performed by One Health are knee and hip
replacements.
One Health delivered 4,870 procedures in the year to 31 March
2022 and the Directors expect the Company to deliver approximately
5,500 procedures in the year to 31 March 2023
Directors and Management Team
Derek Bickerstaff , 63, Non-Executive Chairperson. With over 30
years' experience, Derek is recognised as one of the UK's leading
knee surgeons. He has accepted referrals nationally and
internationally including many high-profile athletes. Derek has
held appointments as the Knee Tutor at the Royal College of
Surgeons of England and served as an executive member of the
British Association of Surgery of the Knee. He has also served on
the board of the Journal of Bone and Joint Surgery. Derek is
frequently invited to lecture on knee surgery at national and
international meetings. Derek left the NHS in to establish the
Company in 2001, whilst continuing surgical activity in support of
the business, retiring from clinical practice in 2022.
Adam Binns, 54, Chief Executive Officer. Adam joined One Health
in January 2018 as Project Director & COO. He was then
appointed Finance Director in May 2018 and Chief Executive in July
2019. Prior to One Health, Adam worked for Wincanton PLC between
2007 and 2017, latterly as General Manager, for Unipart Group
Limited between 2000 and 2006, latterly as Divisional Financial
Planning Manager, and for Allied Domecq Limited, Morland PLC and
Greene King Limited. He qualified as a management accountant with
the Chartered Institute of Management Accountants in 2003.
Shantanu Shahane , 56, Medical Director. Shantanu is a
Consultant Orthopaedic Surgeon with over 20 years' experience,
based at Chesterfield Royal Hospital. He was appointed as Medical
Director of the Company in July 2019. He has Board responsibility
for Clinical Governance and Quality and leads the Group's Clinical
Governance Team and the delivery of high-quality clinical care for
patients. Shantanu also leads the strategic transformation of the
Group's healthcare provision, through partnership within and across
the Group's established network of Surgeons, Anaesthetists,
Physiotherapists, Clinic and Hospital Partners.
Jessica Sellars , 39, Director of Operations and Service
Development. Jessica joined One Health in May 2005, initially as
Contracts Manager. Subsequently, she was appointed Business &
Corporate Governance Manager in 2008, Associate Operations Director
in 2014 and Director of Operations & Service Development in
2020. She also held the role of the CQC Registered Manager for the
organisation since 2019. Prior to joining to One Health, she worked
with Debenhams as a Graduate Retail Manager. In her current role,
Jessica is responsible for the establishment, development and
optimisation of day-to-day operations, in addition to developing
and implementing key growth strategies. She has a degree in
Business Studies from Sheffield Hallam University and an MSC in
Leadership in Management.
Helen Pitcher OBE , 64, Non-Executive Director. Helen is an
experienced chair, board member, board facilitator and coach,
working across a range of public, professional services, private
equity and family-owned businesses. She was awarded an OBE for
services to business in 2015. Helen is a non-executive director of
United Biscuits (UK) Limited and a non-executive director of C
& C Group Plc where she is chair of their Remuneration
Committee and a member of the Nomination and ESG Committees. In
addition to her role with a leading board effectiveness
consultancy, Advanced Boardroom Excellence, Helen is chair of the
Criminal Cases Review Commission, the Public Chairs' Forum and Vice
President of IAA Global Clubs. Helen is the President of KidsOut (a
National Children's Charity) and sits on the Advisory Board for
Leeds University Law Faculty. Helen is a Fellow of the Institute of
Directors, CIPD, CIM, RSA and a Member of the European Corporate
Governance Institute.
Nick Parker , 62, Non-Executive Director. Nick is an experienced
corporate funding expert with strong financial acumen attained
through formal accountancy training. Nick oversaw the IPOs of both
Northcoders Group PLC and Wandisco PLC and was CFO of Yü Group plc,
Dyson Group plc and Volex PLC, as well as being the CEO of
Sheffield Wednesday Football Club PLC.
Dr Zachary McMurray , 59, Non-Executive Director. Zak is the
Medical Director of the NHS Sheffield Clinical Commissioning Group.
He qualified as a doctor in 1988 and became a partner at Woodhouse
Medical Centre, where he remained for over 20 years. He was elected
to the South East Sheffield Primary Care Group in 1999 as a board
member and acted as mental health and commissioning lead before
taking over as PEC Chair. Zak became joint PEC Chair on the
creation of the Sheffield Primary
Care Trust, moving to Joint Clinical Director within the
Sheffield Clinical Commissioning Group. Senior management
The Directors are supported by the following key senior
managers:
Lisa Johnson , 41, Head of Finance Lisa joined One Health in
2004 and has been instrumental in the growth of the organisation
since it was established, successfully progressing from Finance
Assistant to Head of Finance. She is responsible for delivery the
organisation's financial strategy, working closely with NHS and
independent hospital partners on contract negotiation and delivery,
consultant management and leading the finance team.
Nicole Gent , 30, Head of People and Performance Nicole joined
One Health in 2015, initially as Patient Liaison Department
Manager, before being appointed as Head of Service Delivery in
2019. She became Head of People & Performance in January 2022,
with responsibility for management of the Company's Human Resource,
with a focus on diversity and inclusion colleague experience,
leadership development and performance management. Previously,
Nicole worked with Holling Richards Limited, who provided
Specialist Insolvency Services. Nicole is currently studying
towards her CIPD qualification to further enhance her knowledge and
support her experience.
ends
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END
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(END) Dow Jones Newswires
November 24, 2022 02:00 ET (07:00 GMT)
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