Totally (TLY ) has secured a string of new contract extensions worth around £22m for the provision of Integrated Urgent Care services and Urgent Treatment Centres in London.
The contracts have been awarded to Totally’s wholly-owned subsidiaries, Vocare and Greenbrook Healthcare, which together form part of the Group’s Urgent Care Division.
The London-listed Company, which operates as a provider of a range of healthcare services across the UK and Ireland, said the contracts will run for periods of between 6 and 12 months.
One of the contracts includes the provision of integrated urgent care, including NHS 111, Clinical Assessment Services and Out-of-Hours services, for South West London CCG; a contract extension awarded to Vocare until 1 June 2022 which is valued at around £9m.
The second contract includes six urgent treatment centres for North West London CCG; extensions awarded to both Vocare and Greenbrook until 31 March 2022, valued at c. £12m.
Totally Healthcare, which makes up Totally’s Insourcing Division, also continues to secure contracts to support the NHS with the reduction of waiting lists with further insourcing contracts awarded in Blackburn, Rotherham and Sheffield across multiple clinical specialities.
Commenting on the latest contract extensions, Wendy Lawrence, Chief Executive of Totally, said: “The NHS continues to be under significant pressure. The rise of the staycation in 2021 has given NHS services little respite over the summer months and waiting lists continue to grow as the public returns to healthcare settings to access medical care.
She added, “Totally was established to support the NHS as demand driven by demographic and societal changes creates additional pressure. The need for this has never been greater. We have stood shoulder-to-shoulder with the NHS throughout the pandemic and continue to support our NHS colleagues as they face a second winter with COVID-19 as well as the resurgence of annual flu, providing consistency of service and high-quality care for patients.”
In late September, Totally told investors that it had secured a series of contract extensions worth a total of around £16m for its Urgent Care division including those awarded to Vocare.
At the time, Lawrence detailed that a significant increase in demand and recovery plans for the NHS had been “well reported” and that the contracts reflected the work the
Company’s staff are doing “to deliver quality care to the high standards required by commissioners.”
In recent months, Totally has hailed its strong progress after delivering healthcare services across the UK and Ireland in partnership with the NHS and other healthcare providers.
Last month, Totally reported strong trading, in line with market expectations, stating that it had a current cash position of around £14.7 million as at 31 August 2021, with no debt financing.
It said recent NHS England data on waiting lists and new service opportunities supporting the management of ‘long COVID’ present further opportunities for organic growth in the business.
It said preparations were underway for a second winter with the pressures of COVID-19 on top of an expected resurgence of seasonal flu and other normal winter demands.
Urgent Care is preparing to mobilise the new Urgent Treatment Centre at Denmark Hill after a successful tender process for King’s College Hospital NHS Foundation Trust in August 2021.
Meanwhile, the Group’s Planned Care division is seeing several new service opportunities to support the number of people impacted by ‘long COVID’ including a rise in the number of people being referred into the traditional physiotherapy service for long COVID diagnoses.
The Group anticipates further growth as it supports the NHS and other healthcare providers through a second winter with COVID-19 and the increased pressure of significant waiting lists.
In July 2021, following the publication of Totally’s results for the year ended 31 March 2021 in which it stated that demand for its services had ‘increased beyond all estimates’ over the year, the Company said it had recommended to its shareholders a final dividend of 0.25p per share.
The Board confirmed a final dividend of 0.25p per share which, together with the interim dividend of 0.25p paid in February, makes a total dividend for the year of 0.50p per share.
Over the period, revenue rose by 7.4% to £113.7m (FY20: £105.9m) while Totally saw a substantial increase in pre-tax profit to £0.1m, moving it from a previous loss of £3.4m.
Despite all operations having been impacted due to the pandemic, the Group said that with the increased demand for urgent healthcare support, it was well placed to respond quickly.
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