REG - One Health Group PLC - Admission to trading

YuAnnouncement

24/11/2022 08:15

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RNS Number : 4168H  One Health Group PLC  24 November 2022

24 November 2022

 

One Health Group plc

("One Health" or the "Company")

 

Admission to trading on the AQSE Growth Market and Fundraise

 

One Health Group plc (AQSE: OHGR), a provider of NHS-funded medical
procedures, announces its first day of dealings and Admission of its ordinary
shares to trading on the Apex segment of the AQSE Growth Market ("Admission")
at 8.00am today under the ticker "OHGR" and ISIN GB00BNNT0595.

 

The Company has undertaken a Placing and Subscription which have raised, in
aggregate, gross proceeds of £1,555,000, at a price per share of 150 pence
(the "Issue Price").  On Admission, the Company will have 10,033,333 ordinary
shares in issue, which implies a market capitalisation of the Company of
£15.05 million, at the Issue Price.

 

Key Highlights

 

One Health

·      One Health is a provider of medical procedures, focused on four
specialties;  Orthopaedics, Spinal Surgery, General Surgery and Gynaecology.

·      The medical procedures provided are funded by the NHS on NHS
national tariff rates and are therefore delivered free to the patient at the
point of delivery.

·      One Health is a part of the local NHS supply chain, operating as
part of the 'Patient Choice' initiative, which was introduced by the National
Health Service Act in 2006.

·      Under this policy, patients whose GPs have referred them for
potential surgery, have the right to choose their own treatment provider for
certain procedures. This may be the NHS, a voluntary provider, or companies
operating in the independent sector.

·      One Health achieved revenue of £9.7 million in the six months to
30 September 2022, at a gross margin of 16.7%, and has seen new patient
referrals 11% above the level experienced in the year to 31 March 2020 (being
the last year prior to the COVID-19 pandemic)

·      Since 2012 the Company has paid out a total of £1.6m in
dividends and, subject to its financial position and obligations, intends to
pay up to 50% of annual profits after tax in future.

·      One Health is asset light and highly cash generative.  As at 31
March 2022, net cash was £3.68 million.

 

Admission Details

·      The Placing and Subscription were conducted at a price of 150
pence per ordinary share and, will have a market capitalisation of
approximately £15.05 million.

·      The Company issued 33,333 shares at 150 pence per share, pursuant
to the Subscription.

·      The net proceeds of the Placing and the Subscription, to be
received by the Company, following repayment of indebtedness by the One Health
Group EBT Trustee, will be applied to working capital for the development of
the Company and to fund irrecoverable VAT.

·      The Company's Admission Document is available to view on its
website at www.onehealth.co.uk/investors
(http://www.onehealth.co.uk/investors)

·      Admission to the AQSE Growth Market is expected to take place at
8.00 a.m. (UK time) today.

·      On Admission, the Company will have a free float of approximately
26.8%.

 

Oberon Capital acted as the Company's AQSE Corporate Adviser and Broker in
relation to the Admission and the Placing and Subscription, and is acting as
the Company's AQSE Corporate Adviser and Broker from Admission.  Oberon
Capital is a trading name of Oberon Investments Limited.

 

Derek Bickerstaff, Chairman of One Health, said:

 

"We are delighted at becoming a publicly traded company by joining the AQSE
Growth Market. One Health has currently achieved, and continues to achieve,
revenue growth through the use of facilities within existing private hospitals
and excess capacity offered by NHS facilities and the growing awareness of its
services among medical practitioners and patients in our areas of operation."

 

Adam Binns, Chief Executive Officer of One Health, added:

 

"We are also targeting additional surgeons that are looking to acquire AQP
status and/or increase their own potential through use of the incremental
infrastructure offered by the Company. This includes the provision of medical
procedures through surgical hubs which is in line with government policy and
is strongly supported by the NHS and the Royal College of Surgeons."

 

 

For more information, please contact:

 

One Health Group
plc
+44 114 250 5510

 

Adam Binns, Chief Executive Officer

 

Oberon Capital - AQSE Corporate Adviser and Broker +44 203 179 5300

 

Nick Lovering

Mike Seabrook

Adam Pollock

 

Square1
Consulting
+44 207 929 5599

 
+44 7831 381201

David Bick

 

 

About One Health Group

 

One Health engages over 100 NHS Consultants who sub-specialise in the various
surgeries offered by the Company, through a growing network of community-based
outreach clinics and surgical operating locations. Prior to the Covid-19
pandemic, on an annual basis, One Health serviced in excess of 10,000 new
patients, through over 30,000 consultations and performed over 7,000 surgical
procedures. One Health uses surgeons and anaesthetists that are mostly
employed by the NHS, on a consultancy basis. It currently works with over 100
professionals across 7 hospitals and 20 CQC registered clinics.

 

One Health's activities are focused on areas where the patient needs are
under-supplied by the local NHS service as well as locations where population
density is relatively high, and the level of private medical insurance is
relatively low. One Health has also sought to expand geographically from its
Head Office in Sheffield into neighbouring counties, which meet the required
criteria. Currently, the Company's activities are focused in Yorkshire,
Lincolnshire, Derbyshire, Nottinghamshire and Leicestershire. Revenue in the
year to 31 March 2022 was derived from 40 Clinical Commissioning Groups in
addition to contracts with NHS hospitals.

 

One Health's business model has focused to date on four main areas: being
Spine, Orthopaedics, General Surgery and Gynaecology. The split of inpatient
procedures in the year to 31 March 2020 was as follows: Spine 32% Orthopaedics
27% General Surgery 29% Gynaecology 12%.

 

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.

 

One Health delivered 4,870 procedures in the year to 31 March 2022 and the
Directors expect the Company to deliver approximately 5,500 procedures in the
year to 31 March 2023

 

 

 

 

 

 

 

Directors and Management Team

 

Derek Bickerstaff, 63, Non-Executive Chairperson. With over 30 years'
experience, Derek is recognised as one of the UK's leading knee surgeons. He
has accepted referrals nationally and internationally including many
high-profile athletes. Derek has held appointments as the Knee Tutor at the
Royal College of Surgeons of England and served as an executive member of the
British Association of Surgery of the Knee. He has also served on the board of
the Journal of Bone and Joint Surgery. Derek is frequently invited to lecture
on knee surgery at national and international meetings. Derek left the NHS in
to establish the Company in 2001, whilst continuing surgical activity in
support of the business, retiring from clinical practice in 2022.

 

Adam Binns, 54, Chief Executive Officer.  Adam joined One Health in January
2018 as Project Director & COO. He was then appointed Finance Director in
May 2018 and Chief Executive in July 2019. Prior to One Health, Adam worked
for Wincanton PLC between 2007 and 2017, latterly as General Manager, for
Unipart Group Limited between 2000 and 2006, latterly as Divisional Financial
Planning Manager, and for Allied Domecq Limited, Morland PLC and Greene King
Limited. He qualified as a management accountant with the Chartered Institute
of Management Accountants in 2003.

 

Shantanu Shahane, 56, Medical Director. Shantanu is a Consultant Orthopaedic
Surgeon with over 20 years' experience, based at Chesterfield Royal Hospital.
He was appointed as Medical Director of the Company in July 2019. He has Board
responsibility for Clinical Governance and Quality and leads the Group's
Clinical Governance Team and the delivery of high-quality clinical care for
patients. Shantanu also leads the strategic transformation of the Group's
healthcare provision, through partnership within and across the Group's
established network of Surgeons, Anaesthetists, Physiotherapists, Clinic and
Hospital Partners.

 

Jessica Sellars, 39, Director of Operations and Service Development. Jessica
joined One Health in May 2005, initially as Contracts Manager. Subsequently,
she was appointed Business & Corporate Governance Manager in 2008,
Associate Operations Director in 2014 and Director of Operations & Service
Development in 2020. She also held the role of the CQC Registered Manager for
the organisation since 2019. Prior to joining to One Health, she worked with
Debenhams as a Graduate Retail Manager. In her current role, Jessica is
responsible for the establishment, development and optimisation of day-to-day
operations, in addition to developing and implementing key growth strategies.
She has a degree in Business Studies from Sheffield Hallam University and an
MSC in Leadership in Management.

 

Helen Pitcher OBE, 64, Non-Executive Director. Helen is an experienced chair,
board member, board facilitator and coach, working across a range of public,
professional services, private equity and family-owned businesses. She was
awarded an OBE for services to business in 2015. Helen is a non-executive
director of United Biscuits (UK) Limited and a non-executive director of C
& C Group Plc where she is chair of their Remuneration Committee and a
member of the Nomination and ESG Committees. In addition to her role with a
leading board effectiveness consultancy, Advanced Boardroom Excellence, Helen
is chair of the Criminal Cases Review Commission, the Public Chairs' Forum and
Vice President of IAA Global Clubs. Helen is the President of KidsOut (a
National Children's Charity) and sits on the Advisory Board for Leeds
University Law Faculty. Helen is a Fellow of the Institute of Directors, CIPD,
CIM, RSA and a Member of the European Corporate Governance Institute.

 

Nick Parker, 62, Non-Executive Director. Nick is an experienced corporate
funding expert with strong financial acumen attained through formal
accountancy training. Nick oversaw the IPOs of both Northcoders Group PLC and
Wandisco PLC and was CFO of Yü Group plc, Dyson Group plc and Volex PLC, as
well as being the CEO of Sheffield Wednesday Football Club PLC.

 

Dr Zachary McMurray, 59, Non-Executive Director. Zak is the Medical Director
of the NHS Sheffield Clinical Commissioning Group. He qualified as a doctor in
1988 and became a partner at Woodhouse Medical Centre, where he remained for
over 20 years. He was elected to the South East Sheffield Primary Care Group
in 1999 as a board member and acted as mental health and commissioning lead
before taking over as PEC Chair. Zak became joint PEC Chair on the creation of
the Sheffield Primary

Care Trust, moving to Joint Clinical Director within the Sheffield Clinical
Commissioning Group. Senior management

 

The Directors are supported by the following key senior managers:

 

Lisa Johnson, 41, Head of Finance Lisa joined One Health in 2004 and has been
instrumental in the growth of the organisation since it was established,
successfully progressing from Finance Assistant to Head of Finance. She is
responsible for delivery the organisation's financial strategy, working
closely with NHS and independent hospital partners on contract negotiation and
delivery, consultant management and leading the finance team.

 

Nicole Gent, 30, Head of People and Performance Nicole joined One Health in
2015, initially as Patient Liaison Department Manager, before being appointed
as Head of Service Delivery in 2019. She became Head of People &
Performance in January 2022, with responsibility for management of the
Company's Human Resource, with a focus on diversity and inclusion colleague
experience, leadership development and performance management. Previously,
Nicole worked with Holling Richards Limited, who provided Specialist
Insolvency Services. Nicole is currently studying towards her CIPD
qualification to further enhance her knowledge and support her experience.

 

ends

 

 

 

 

 

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