20 January 2025
Checkit plc
("Checkit" or the "Group")
Contract renewals and
wins
Checkit (AIM: CKT), the
automated monitoring platform for operational leaders, is pleased
to announce contract wins in the US and the UK and a number of
strategic extensions with UK customers.
UK
One of the largest private healthcare
providers in the world has renewed its existing agreement with
Checkit for a further three and a half years and extended usage of
the Checkit platform to a further four additional sites
(bringing the total number to 37
sites). The upsell increases the annual
contract value (ARR) by £98,000 with a total contract value of
c.£800,000.
Following a competitive procurement
process, a leading NHS teaching
hospital has extended its agreement with Checkit to
cover all pathology departments for a period of three years. This
further increases the annual value of the contract by approximately
£80,000 per year for a total contract value
of c.£372,000.
Following an extensive competitive
tender, a network of four pathology
laboratories which serves over a million patients has signed
a seven-year agreement to implement the Checkit solution across
five NHS Trusts. Total contract value for the seven year
agreement is £440,000 with further
expansion opportunities including digitisation of manual compliance
checks actively being discussed.
Frimley NHS Foundation Trust has
renewed their agreement with Checkit for a further five years for a
total contract value of £650,000.
Nuffield Health has renewed its agreement with Checkit for three
years and will extend the use of our solution to three additional
hospital sites with a total contract value of £420,000.
A number of net new customers were
acquired during H2 in the UK including an initial contract with
Thomas Franks, a contract caterer with a focus on business,
industry and the independent school sector, and four more contracts
with Compass Contract Services (U.K) (bringing the total number of
Compass related sites to 29) and Ramsay Health Care UK Operations
Limited. Checkit is now used by five of the top six private
hospital providers in the UK.
US
In H2, Checkit opened a new market in
the United States by signing three new contracts with care home
providers with a total contract value of £340,000 over 3
years. Elsewhere, the Group is pleased to announce a contract
with CBRE that presents significant upsell and cross sell potential
in line with Checkit's "land and expand" strategy. Checkit
also secured a new contract with Canadian Plasma Resources
Corporation doing business as Grifols across 16 sites with a total
contract value of £160,000 over three years. This latest win in the
blood plasma industry underlines Checkit's position as the leading
provider of medical monitoring services in the North American
market; Checkit now supports six of the top ten largest plasma
companies and operates across 50 US states.
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Checkit plc
Kit Kyte (Chief Executive
Officer)
Kris Shaw (Chief Financial
Officer)
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+44
(0) 125 240 6340
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Singer Capital Markets (Nominated Adviser and
Broker)
Shaun Dobson / James
Fischer
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+44
(0) 207 496 3000
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