Totally, a leading provider of frontline healthcare services, corporate fitness and wellbeing services across the UK and Ireland, has announced a series of contract extensions totalling £14m in aggregate.

 

Contract Extensions

Totally's Urgent Care division, which is made up of Vocare Limited and Greenbrook Healthcare Limited, contract extensions are predominantly to support NHS urgent care services across the North East of England and London.

Northeast England

 has signed five contract extensions across the North East of England and Yorkshire for the continued delivery of GP out of hours ("GPOOH") and clinical assessment services ("CAS"). The contracts run until 31 March 2023 with a total value of c. £7.3 million

South East London

Totally has also signed a contract extension for the continued delivery of an urgent treatment centre in South East London until 31 March 2023, valued at c. £6.4 million.

 

Care Quality Ratings

Furthermore, the Company has completed a recent inspection by the Care Quality Commission ("CQC") and retained its "GOOD" rating overall for three urgent treatment centres in London: Northwick Park Hospital, Central Middlesex Hospital, and Ealing Hospital. 

This is a significant outcome at a time of continued pressure across the healthcare industry and reflects Totally's commitment to excellent patient care.  As a result, all of Totally's CQC registerable services continue to be rated GOOD.

 

View from VOX

Following a significant upgrade to forecasts in April 2022, these contract extensions underpin recurring revenue expectations by securing the continuation of existing contracts. 

It also demonstrates the excellent long-term relationships held between Totally and commissioners across the country.

Analysts at Allenby Capital consider Totally to be a relatively low risk investment with the government being the primary customer through the NHS, an important consideration during a period of increasing financial, macro-economic and political upheavals and reiterates its fair value of 75p is achievable over its forecast period to FY25.