REG - One Health Group PLC - Trading Update

One HealthAnnouncement

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RNS Number : 8134E  One Health Group PLC  27 October 2025

One Health Group plc

("One Health", the "Company" or the "Group")

 

Trading Update

 

H1 26 Revenue and EBITDA significantly ahead of prior year

Strong growth across all KPIs

 

One Health Group plc (AIM: OHGR), the independent provider of NHS-funded
surgical procedures for patients referred from the NHS through 'Patient
Choice', provides the following trading update for the six months to 30
September 2025 ("H1 26"), showing significant growth across all financial key
performance indicators, in-line with management expectations.

 

Key Highlights

 

                                                  H1 26    H1 25    Growth

 Revenue                                          £15.5m   £13.3m   +17%
 New NHS patient referrals                        9,111    7,857    +16%
 Number of consultations                          23,927   19,674   +22%
 Number of surgical procedures                    4,009    3,427    +17%
 Number of consultants (excluding anaesthetists)  80       70       +14%
 Number of Outreach Clinics                       40       37       +8%
 Number of Surgical Operating Facilities          12       10       +20%

 

·    H1 26 underlying EBITDA is expected to be significantly ahead of the
prior year (H1 25: £0.96m).

 

·    The Board is confident about the future growth of the Group, and the
business remains on track to deliver growth at the revenue and underlying
EBITDA levels for FY 26 in-line with market expectations(1).

 

·    Strong cash conversion continues resulting in cash at half year of
£10.8 million (H1 25: £4.9 million), including AIM IPO proceeds payable to
the Company of £5.6 million (net) and after purchasing land, supporting the
investment in the new surgical hub and the progressive dividend policy.

 

·    Clear strategy to drive continued organic growth through increased
patient referrals, a strong pipeline of new surgeons, and additional surgical
capacity in existing and new independent sector hospitals to help deliver on
challenging Government Waiting List reduction targets.

 

·    Planning approval received during the period for the first new-build
surgical hub, which will deliver additional strategic growth through 'owned'
surgical operating capacity in underserved areas, a key part of the Company's
mid-to-long term growth strategy. Finalisation of discharge of planning
conditions (relating to environmental matters) underway with construction
expected to commence before the end of the year and with operation of the hub
still expected by the end of 2026.

 

·    Further sites have been identified for preliminary assessment of
suitability for future surgical hubs.

 

(1)Management understands market forecasts for revenue and underlying EBITDA
for FY 26 to be £29.6 million and £2.3 million respectively.

 

Adam Binns, Chief Executive Officer, commented:

 

"The continuing dedication and tenacity of the team, building on the strong
performance and momentum generated last year, has resulted in a strong first
half with impressive growth achieved across all key performance metrics.

 

"The number of patients choosing to be referred to One Health as their
provider of care following a GP appointment continues to increase as the
public become more aware of 'Patient Choice' and their legislative right to
choose local, high quality secondary care, free at the point of delivery, with
short waiting times.

 

"Post-operative patient feedback, a direct measure of the quality of care
provided to our patients, has averaged 99% positive feedback over the first
six months of the year. This exceptional result is a testament to the
dedication and skill of our entire team.

 

"As well as ongoing increases in GP referrals, as in previous years, we
anticipate an increase in NHS Trust referrals in H2, where local NHS Trusts
transfer NHS patients from their internal patient waiting lists. This has
never been more important as pressure increases to achieve challenging year
end Government waiting list targets. We anticipate demand from NHS Trusts will
also help to balance out transitionary challenges at the ICB level arising
from recent NHS changes. Though there have been very modest reductions over
the first half of the year, the national waiting list has remained stubbornly
high at 7.4 million, increasing over the last two months due to industrial
action. In addition, winter pressures are rapidly approaching and likely to
exacerbate the situation.

 

"Finally, and importantly, key to our continued development is the investment
in our people to ensure we continue to attract and retain the best talent,
whilst focusing on nurturing and developing expertise within the One Health
team to support robust and clinically safe growth. To support this aim, in the
first half of the year we have increased office capacity within our current
site, to ensure we continue to provide a modern, vibrant workspace for our
expanding team.

 

"As a growing and trusted provider of support to the NHS for over 21 years we
look forward to the future with confidence, providing much needed care, free
at the point of delivery for NHS patients, across an ever-increasing
geography, reducing pressure on the NHS.

 

One Health will announce its half year results in early December 2025 and a
notice of results will be announced in due course. If you wish to keep up to
date on Company news please email: onehealth@walbrookpr.com
(mailto:onehealth@walbrookpr.com)

 

This announcement contains inside information for the purposes of
the UK Market Abuse Regulation

and the Directors of the Company are responsible for the release of this
announcement.

 

For more information, please contact:

 

 One Health Group plc                                                                                                www.onehealth.co.uk/investors (http://www.onehealth.co.uk/investors)

 Derek Bickerstaff, Chairman                                                                                         Via Walbrook PR

 Adam Binns, CEO

 Panmure Liberum (Nominated Adviser and Broker)                                                                      Tel: +44 (0)20 3100 2000

 Emma Earl, Will Goode, Mark Rogers

 Rupert Dearden

 Walbrook PR (Media & Investor Relations)      Tel: +44 (0)20 7933 8780 or onehealth@walbrookpr.com

                                             (mailto:onehealth@walbrookpr.com)
 Alice Woodings / Paul McManus /

                                             Mob: +44 (0)7407 804 654 / +44 (0)7980 541 893 /
 Rachel Broad

                                               +44 (0)7747 515 393

 

About One Health Group plc (www.onehealth.co.uk (http://www.onehealth.co.uk) )

One Health engages 80 NHS Consultants (excluding anaesthetists) who
sub-specialise in the various surgeries offered by the Company, through a
growing network of community-based outreach clinics and surgical operating
locations. One Health continues to deliver strong growth and, in the year, to
March 2025 provided much needed care to 17,020 new patients, through over
42,000 consultations and over 7,000 surgical procedures. One Health deploys
surgeons and anaesthetists that are mostly employed by the NHS, on a
subcontracted basis. It currently works with over 100 professionals across 9
independent hospitals and 37 outreach clinics. Within these community-based
outreach clinics all consultations and post operative physiotherapy is
delivered where required, reducing patient inconvenience and excess travel.

 

One Health's activities are focused on areas where NHS patient needs are
under-supplied by the local NHS service, population density is relatively high
and the level of private medical insurance or the ability to self-fund is
relatively low. Currently, the Company's activities are focused in Yorkshire,
Lincolnshire, Derbyshire, Nottinghamshire and Leicestershire. Revenue is
derived from over 60 NHS commissioning bodies in addition to contracts with
local NHS Hospital Trusts to transfer their internal waiting list patients to
One Health for quicker treatment.

 

One Health's business model has focused to date on four main areas:
orthopaedics, spine, general surgery and gynaecology, with urology introduced
at the end of FY25.

 

Spine and orthopaedics are particularly attractive areas for One Health as the
Directors believe that they benefit from powerful growth drivers in terms of
an ageing demographic, physical inactivity and an increasing proportion of the
population being categorised as obese. Within orthopaedics, the most common
surgeries performed by One Health are knee and hip replacements.

 

Online investor presentation

Listen here for on online presentation by Derek Bickerstaff, Chairman and Adam
Binns, Chief Executive Officer, which offers insights into the Company's
growth strategy and long-term vision:

 

https://sparklive.lseg.com/ONEHEALTHGROUP/events/d0e32595-a4a2-4379-a646-7da97431a300/one-health-group-investor-event-and-full-year-results-announcement-for-2025
(https://sparklive.lseg.com/ONEHEALTHGROUP/events/d0e32595-a4a2-4379-a646-7da97431a300/one-health-group-investor-event-and-full-year-results-announcement-for-2025)

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