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Totally plc (TLY ), a provider of frontline healthcare and corporate wellness services, said it has locked in a new 5-year contract worth £66m, for the provision of 2 urgent treatment centers (UTCs) in Bromley, South East London.
Totally-owned Greenbrook Healthcare was awarded the contract by the NHS South East London Integrated Care Board (ICB) following a full tender process. The ICB will work with Greenbook on a mobilisation plan prior to contract commencement.
The contract will commence on 1 April 2023 and run for 5 years, with the option to extend for an additional 3 years.
Wendy Lawrence, CEO of Totally, commented: "Our urgent treatment centres aim to prevent avoidable A&E attendances by ensuring that patients are treated in the most appropriate setting, according to their clinical and wellbeing needs. This means that NHS emergency service staff can focus on treating those with more serious conditions. We continue to work alongside the NHS to deliver quality services to patients, even during times of significant pressure."
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Another major win for Totally, this time in the form of a new £66m 5-year contract with the NHS South East London ICB. Greenbrook is well-prepared to take on the task, having delivered UTC services at Princess Royal University Hospital and Beckenham Beacon since 2013 and 2014 respectively, and recently re-tendered against a new service specification and financial model.
Today's announcement follows Totally's 14m of contract extensions to support NHS urgent care services in North East England and London announced in September, 19m of contract extensions for 5 UTCs in North West London announced in July, and 5-year extension of its Royal Mail contract announced in May.
Today's news is a fitting way to close out the year for Totally after the company began 2022 with £54m of new UTC contracts and extensions for its urgent care division back in January. Throughout this year, Totally has continually reaffirmed its position as a key partner to the NHS, evidenced by its ever growing pipeline of contracts and M&A-accelerated growth. Just today, the company finalised its £13m acquisition of Pioneer Healthcare, initially announced in March.
Overall, Totally remains well-funded and well-positioned to continue supporting the NHS through the winter period. As a government contractor, it is a safe investment with high visibility of revenue. Its newly acquired businesses are driving growth, and the company remains on track to deliver full-year results in line with market expectations.
Markets cheered today's announcement, sending TLY shares up 5.15% in early trading.
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