One Health Group PLC joins AIM
One Health supports NHS patients by deploying more than 100 subcontracted surgeons and anaesthetists to undertake surgical procedures on behalf of the NHS, utilising operating theatre capacity within independent sector hospitals and 37 outreach clinics for patient consultations. Within these community-based outreach clinics surgical consultations and post operative physiotherapy is delivered where required, reducing patient inconvenience and excess travel. Patients do not pay as all activity is delivered ‘free at the point of delivery’ and funded by the NHS. Currently, the Company's activities are focused in Yorkshire, Lincolnshire, Derbyshire, Nottinghamshire and Leicestershire.
Revenue of over £23 million in the year to 31 March 2024 was derived from over 60 NHS commissioning bodies in addition to contracts directly with local NHS Hospital Trusts to transfer their internal waiting list patients to One Health for quicker treatment. One Health is paid by the NHS at the ‘standard tariff’ which is on average approximately half the cost of paying privately. One Health targets treatment within eight weeks of referral.
Due to the use of independent sector operating facilities, operating schedules remain undisrupted by emergency procedures, ensuring surgeries proceed as planned, with limited delay, and significantly lower waiting times than the NHS directly provided procedures. Patients are seen by consultants in local, community-based clinics with surgical procedures subsequently carried out, when required, at independent hospitals where One Health rents theatre capacity.
Spine and orthopaedics are particularly important areas for One Health due to 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.
Trading for more than 20 years, and at scale since the introduction of the Patient Choice initiative by the Labour government in 2006 and the impact on NHS waiting lists of the pandemic, One Health is a now a key part of the local NHS supply chain. The new Labour governments recent NHS announcements have endorsed One Healths long standing business model of high quality, community-based NHS patient care in order to reduce waiting lists.
This has resulted in an increasing level of demand and, given that the principal constraint to the growth of the business is the availability of operating theatres, One Health has now decided to build its own surgical hubs to supplement organic growth within an increasing network of independent hospitals. These hubs will be developed in locations with no NHS or independent sector hospital capacity, and high NHS patient demand.
The successful fund raise that has been undertaken as part of this IPO on AIM means that the group now has approximately £10 million of resources available to build its first surgical hub with the planning process already well advanced. Financial modelling suggests that the new surgical hub will significantly enhance both margins and profits of the Group. It is anticipated that a second hub will be delivered soon thereafter.
“I am delighted to have been able to bring One Health to the London Stock Exchange’s AIM, but even more pleased with the resounding message of support that we have received from both existing and new shareholders. With the prospect of additional surgical capacity on the horizon, the team at One Health will continue to deliver rapid surgical solutions to NHS patients, free at the point of delivery, in line with the founding principles of the NHS.”
Derek Bickerstaff
Founder and Chairman of One Health Group
