REG - Totally PLC - Update on Strategic Review

TotallyAnnouncement

23/05/2025 07:00

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RNS Number : 8806J  Totally PLC  23 May 2025

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 (which forms part of domestic UK law
pursuant to the European Union (Withdrawal) Act 2018 ("UK MAR"). With the
publication of this announcement, this information is now considered to be in
the public domain.

 

Totally plc

 

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

 

Update on Strategic Review

 

 

Further to the announcement by the Company on May 1 2025 (the "Strategic
Review"), Totally announces that the Company is in receipt of a number of
offers for subsidiaries of its business (the "Disposals"). The board of
directors (the "Board") is considering these offers and will provide further
updates as appropriate.

 

The purpose of the strategic review announced in the Trading Update was to
strengthen its balance sheet to meet the liabilities of the Group over the
coming months. The Board has now concluded the Disposals of the subsidiaries
are the only realistic route for the Group to fund these liabilities in the
required timeframe.

 

The Board expects to conclude the sale of the business or parts of the
business before the Group requires further funding. The potential proceeds
however, in the Directors opinion, are unlikely to be sufficient to meet all
future liabilities meaning there could be no value in the ordinary shares of
the Company or any likely return to shareholders.

 

For further information please contact:

 

 Totally plc                                                           020 3866 3330

 Simon Stilwell, Chair

 Prasad Godbole, Chief Executive Officer (Interim)

 Canaccord Genuity Limited (Nominated Adviser & Corporate Broker)      020 7523 8000

 Bobbie Hilliam / Harry Rees

 Ernst & Young                                                         0161 333 3418

    Sam Mills, Partner

 

Notes to editors

 

About Totally

Totally is a leading provider of healthcare and wellbeing services across
the UK and Ireland, working in partnership with the NHS, other healthcare
providers and corporate customers to help address the challenges of increased
demand for healthcare services.

 

Totally helps healthcare commissioners and hospitals ensure patients can
access the most appropriate care quickly and efficiently by delivering quality
urgent care services, elective care services including insourcing, outsourcing
and elective care delivered via 'Any Qualified provider', as well as community
dermatology clinics; and therapy servicing including first contact
practitioner and a full physiotherapy and podiatry offering.  Our corporate
customer services also play a role in reducing reliance on healthcare by
promoting healthy lifestyles and physical and mental health.

 

Healthcare services

 

Urgent Care: Totally's urgent care services are delivered under the Totally
Urgent Care brand, by Vocare and Greenbrook Healthcare. Both businesses have
a strong heritage.

 

Elective care: Totally's elective care services are delivered by Pioneer
Healthcare, About Health and Premier Physical Healthcare.

 

·    Pioneer Healthcare was established in 2007 and delivers a wide range
of acute services to NHS patients, in partnership with independent healthcare
sector private hospitals across England, to help the NHS reduce waiting lists
whilst maintaining patient care and quality. Pioneer offer services through
insourcing and outsourcing agreements and through its Any Qualified Provider
status.

·    About Health has been delivering community-based specialist care with
a focus on delivering prompt assessment and treatment across the country since
2008.

·    Premier Physical Healthcare was established in 2007 and provides
physiotherapy and podiatry services to NHS patients, often within a community
GP practice, and to the prison service.

 

Corporate Wellbeing Services

 

Energy Fitness Professionals ("EFP"): EFP is a corporate fitness provider
established in 1990 to address a gap in the market for workplace fitness,
which has grown to offer a range of services covering workplace wellbeing. EFP
manages 62 gyms on behalf of its corporate customers, with more than 13,000
members.

 

For more information visit www.totallyplc.com
(https://can01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.totallyplc.com%2F&data=05%7C02%7Chrees%40cgf.com%7C7fbd6b6e36ed48269e2208dcb23a16cb%7C55a8d9e9da724987ac2851b3b5add15f%7C0%7C0%7C638581209791333600%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=cBslxpTp%2FaUqCxst5g5dJ3C1ax5PxNWsYSvjYrXMWlk%3D&reserved=0)
 

 

Ernst & Young, EY

EY, which is authorised and regulated by the Financial Conduct Authority in
the United Kingdom, is acting exclusively for Totally and for no one else in
connection with the subject matter of this announcement and will not be
responsible to anyone other than Totally for providing the protections
afforded to its clients or for providing advice in relation to the subject
matter of this announcement.

The person responsible for arranging the release of this announcement on
behalf of Totally is Simon Stilwell.

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