REG - Checkit PLC - Contract Renewals and Wins

CheckitAnnouncement

20/01/2025 07:00

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RNS Number : 8127T  Checkit PLC  20 January 2025

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.

 

 Checkit plc                                            +44 (0) 125 240 6340

 Kit Kyte (Chief Executive Officer)

 Kris Shaw (Chief Financial Officer)

 Singer Capital Markets (Nominated Adviser and Broker)  +44 (0) 207 496 3000

 Shaun Dobson / James Fischer

 

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