Totally (TLY) announced that its wholly owned subsidiary, which is one of the UK's leading national specialist providers of urgent care services Vocare Limited ("Vocare"), has been awarded two additional 12-month contract extensions worth a total of c. £16.8 million.
In partnership with the NHS, Totally’s Urgent Care division remains focused on delivering a full range of urgent care services, helping to relieve the pressures faced by the NHS today
Totally outlined that Vocare will continue to provide Integrated Urgent Care services for the Staffordshire & Stoke Clinical Commissioning Groups under the additional extensions.
The contract which is valued at c. £15.9m, will commence on 01 April 2021. Additionally, one of Vocare's contracts for the provision of GP Out of Hours ("OOH") services in Yorkshire, valued at £0.9m, has also been extended and is set to commence on 01 March 2021.
Commenting on today’s contract renewals, Chief Executive of Totally Wendy Lawrence said, "We are very pleased to announce this significant contract extension for IUC services, alongside the contract extension for OOH services, both of which come on the heels of a number of extensions across our Urgent Care division, as announced in January.
“The extension reflects our continued ability to deliver high quality services whilst meeting the heightened levels of demand brought about by the COVID-19 pandemic. Whilst demand for Urgent Care services increases, we are also continuing to support NHS trusts and hospitals to reduce current patient waiting lists, which have risen significantly throughout the pandemic.”
She added that, Totally Healthcare, which delivers high quality insourcing services across the UK, “continues to expand its footprint in the North East of England working alongside three large hospitals to reduce the number of patients waiting for treatment.
“Our planned care division continues to provide services and work towards the mobilisation of new services in coming months. Across Totally's businesses we always strive to deliver the highest quality services and respond quickly to the changing demands placed on healthcare services during these challenging times and this remains our utmost priority."
This news follows several contract extensions as well as continued pilot funding (worth c. £7.2m) that the healthcare service provider in the UK and Ireland revealed earlier this month. Shares in Totally have more than doubled since the beginning of November 2020 from 17p to open this morning 1.87% higher at 32.6p following the announcement.
Totally is healthcare service provider in the UK and Ireland, working in partnership with the NHS and other providers to deliver healthcare services through its divisions of Urgent Care, Planned Care, and Insourcing.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.