REG - Induction Healthcare - NHS Scotland & Scottish Govt. Contract Renewals

Induction HealthcareAnnouncement

21/03/2022 07:15

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RNS Number : 3662F  Induction Healthcare Group PLC   21 March 2022

Induction Healthcare Group PLC

("Induction", the "Company", or the "Group")

 

Scottish contract renewals secure £2m of annual recurring revenues

 

Induction Attend Anywhere contract renewals with NHS Scotland and Scottish
Government

Induction in line to meet Market Expectations for year ending 31 March 2022

 

Induction (AIM: INHC), a leading virtual care platform driving digital
transformation of healthcare systems worldwide, announces that NHS Scotland
and the Scottish Government contracts for the provision of remote consultation
solutions using Induction Attend Anywhere ("AA") have been successfully
renewed for a further year. Together these renewals secure approximately £2m
of Annual Recurring Revenues going into the year ending 31 March 2023.

 

Highlights:

 

§ AA national NHS Scotland contract renewed for 12 months to 31 March 2023

§ Further renewals from Scottish Government reinforce non-healthcare
application

§ AA remains Scotland's public service remote consultation platform of choice

 

Induction Attend Anywhere (https://inductionhealthcare.com/attend-anywhere/)
  (https://inductionhealthcare.com/attend-anywhere/) is the UK market leading
video consultation service used in secondary care, with growing adoption in
non-healthcare settings. The service provides the option of a simple
patient-centric video consultation that benefits* both patients (reducing the
time, expense and stress of travelling) as well as clinicians and health
systems (optimising the time and capacity of staff, relieve on-site
congestion, benefits from fewer no-shows, and saves money). Attend Anywhere
aims to improve lives and help address social, access, equity, and
sustainability

 

NHS Scotland - UK leaders in video consultation deployment

 

Induction Attend Anywhere is a purpose-built suite of services, tools, and
resources that have introduced video consultations into everyday practice
across all NHS Scotland Health services. It offers patients the option to
attend a health or care appointment via video, in a way that benefits the
patients, healthcare professionals and the health and care system.

 

The Induction Attend Anywhere service is currently available to all NHS
Scotland Health services across all 14 regional health boards and is branded
as Near Me (https://www.nearme.scot) . The service was first introduced to the
NHS in Scotland in 2016 and this initial deployment provided the blueprint for
NHS England's rollout of the service just prior to the pandemic. NHS Wales
also renewed its existing contract
(https://inductionhealthcare.com/regulatory_news/major-contract-renewed-with-increased-scope/)
with Induction in July 2021, with an update and expansion of its current scope
that now sees AA and other Induction products used widely across Wales.

 

The deployment of Induction Attend Anywhere has been highly successful across
NHS Scotland, both by number of consultations undertaken, but also the
estimated cost savings made for both patients and health services. Over
985,000 Near Me video consultations took place between January 2021 and
January 2022. NHS Scotland has estimated that over the last two years the
environmental impact of Attend Anywhere has avoided around 47 million miles of
patient travel.

 

The renewed contract will incorporate Induction's newly launched clinical
group consultations, where one-to-one consultations take place within a group
setting of patients with similar clinical conditions.

 

Scottish Government renewal to support social security system

 

The Scottish Government has also extended its contract with Induction to
provide remote consultations for non-health public services support. This is
another area where Scotland was at the vanguard of digital transformation for
public services, having used video consultation services initially to support
Scotland's social security system since 2020, with the opportunity for future
use by other public funded bodies in Scotland.

 

This example of successful deployment in Scotland foreshadowed the decision by
the Department of Work and Pensions to include Induction Attend Anywhere in a
two-year contract award to support of the virtualisation of the UK benefits
system, as announced in November 2021
(https://inductionhealthcare.com/regulatory_news/induction-attend-anywhere-wins-dwp-contract/)
.

 

James Balmain, Chief Executive Officer of Induction, commented: "Scotland has
been a pioneer in driving remote consultations in the UK and was the home for
our first major national contract for Induction Attend Anywhere. With the
support of NHS Scotland and the Scottish Government we have shown that our
products can be relied upon to deliver digital transformation strategies both
within and beyond healthcare settings.  We look forward to updating
shareholders on further successful renewals in due course.

 

"Induction remains on course to deliver very significant revenue growth this
year in line with market expectations. We fully expect to see this exciting
growth continue into the new financial year. These contract renewals are the
first positive milestones in our renewal strategy and set out the pattern we
expect to see across a very high proportion of our existing contracts in
England."

 

 

ENQUIRIES

 

 Induction                                              Via Walbrook PR Ltd: induction@walbrookpr.com

 James Balmain, Chief Executive Officer

 Guy Mitchell, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser and Broker)  +44 (0)20 7496 3000
 Philip Davies / Kailey Aliyar

 Walbrook PR Ltd                                        induction@walbrookpr.com
 Paul McManus / Stephanie Cuthbert                      Mob: +44(0)7980 541 893 / +44 (0)7796 794 663

 

About Induction -  www.inductionhealthcare.com
(http://www.inductionhealthcare.com)

Induction (AIM: INHC) Induction delivers a suite of software solutions through
a single integrated platform that transforms care delivery. Our system-wide
applications help healthcare providers and administrators to deliver care at
any stage remotely as well as face-to-face - enabling a more flexible,
efficient and positive experience for the communities they serve. Purpose
built for integration with leading Electronic Medical Record (EMR) platforms,
our products offer immediate stand-alone value that becomes even greater when
integrated with pre-existing systems.

 

Used at scale by national and regional healthcare systems, as well non-health
government services, our applications are relied upon by hundreds of thousands
of clinicians and millions of patients across almost every hospital in the
British Isles.

 

 

*For information on the independently recognised benefits of video
consultations in secondary care please refer to Edge Health report September
2021: Home | Edge Health | England (https://www.edgehealth.co.uk/)

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