Healthcare firm reaps rewards of ‘transformational’ acquisition

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Healthcare service provider Totally has reported a £9 million turnover increase and a £4.1 million jump in its gross profits.

The Derby-based company has attributed the performance to its acquisition of Greenbrook Healthcare and the launch of a new subsidiary, Totally Healthcare.

The company posted a turnover of £49.2 million for the six months ended 30 September, up from £40.2 million in 2018, while its gross profits rose from £5.7 million to £9.8 million.

Totally also posted a loss before tax of £2.6 million, but says it is “delighted” with its progress.

Following the “transformational and highly complementary” acquisition of Greenbrook for £9.7 million, the firm secured a number of significant contract extensions across England including £16.6 million worth in South West London and Scarborough.

Describing the results as “solid”, group chairman Bob Holt said: “During September 2019 we launched Totally Healthcare, a business focused on insourcing; an emerging area of healthcare provision which can help to clear long waiting lists. This is an exciting step for us; the market for insourcing is currently estimated by management to be valued at £125 million-£150 million per annum and is growing rapidly.

“Our aim is for Totally Healthcare to become the UK and Ireland’s market leader in insourcing. With a national platform in place, as well as strong relationships across a number of healthcare commissioners and providers, we are confident that Totally Healthcare will achieve this goal.”

CEO Wendy Lawrence added: “Following the progress made on the integration of Greenbrook we now have a strengthened nationwide platform for service delivery in integrated urgent care, complementing our planned care subsidiaries which continue to perform well and win new business.

“We are very excited by the future prospects and are now focused on continuing to build momentum across all our divisions and, as with the recent launch of Totally Healthcare, are looking for opportunities to continue to grow organically into the lucrative and emerging areas of both planned and urgent care.”

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