Contract with Hospital renewed on longer terms
One Health Group plc has secured a renewed three-year contract with Sheffield Teaching Hospital, a significant multi-million-pound agreement that extends beyond previous annual renewals. This development, alongside similar longer-term contract renewals with Lincolnshire ICB and South Yorkshire ICB in April 2024, now covers approximately 80% of the company's activity, providing increased financial certainty and supporting its strategic initiatives, including the construction of its first Surgical Hub.
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One Health Group plc (AIM: OHGR), the independent provider of NHS-funded surgical procedures for patients referred by their GP through 'Patient Choice', announces that it has signed a renewed contract with Sheffield Teaching Hospital ("STH"), one of the Company's longest standing commissioners. The multi-million-pound agreement will run for three years, rather than renewing annually as it has done previously.
In April 2024, One Health's two largest commissioners, Lincolnshire Integrated Care Board ("ICB") and South Yorkshire ICB, also renewed their agreements for five years, rather than renewing annually. The combination of these three contracts, all renewed on longer terms, represents c.80% of One Health's activity, with the remaining c.20% representing other direct NHS trusts and non-contract customers. Negotiating another long-term agreement reinforces confidence in One Health's model and supports the Company's continued contribution to the NHS' infrastructure.
Adam Binns, Chief Executive Officer, commented:
"We have supported STH for over 10 years and look forward to continuing to do so during this agreement and beyond. The certainty of these longstanding contracts with STH, Lincolnshire ICB and South Yorkshire ICB allow us to focus on our first Surgical Hub, which is currently under construction, and continue to provide crucial support for the NHS as it faces sustained and ongoing operational pressure."
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