Major contract renewed with increased scope

RNS Number : 7457F

Induction Healthcare Group PLC

20 July 2021

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR") AND THE RETAINED UK LAW VERSION OF MAR PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Induction Healthcare Group PLC

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

Major contract renewed with increased scope

Contract covering NHS Wales healthcare system renewed for 2022 with additional scope to include front line support services

Induction (AIM: INHC), a leading virtual care platform driving digital transformation of healthcare systems worldwide, announces that NHS Wales has renewed its existing contract with Attend Anywhere with an update and expansion of its current scope. This is the first major contract win for Induction since its acquisition of Attend Anywhere in June - the transaction having enhanced Induction's suite of technology products that provide flexible care options for patients and healthcare professionals.

The contract is worth £1.635m and will result in £1.22m of revenues being recognised in the year ending 31 March 2022, with the balance falling into the following financial year, representing significant commercial momentum for Induction. Attend Anywhere and Induction products are now used widely across NHS Wales, reinforcing the key strategic value of bringing together these two businesses to offer healthcare systems an all-encompassing virtual care platform with greater UK based support.

The COVID-19 pandemic, with the need to radically reduce footfall in hospitals, was a 'super-catalyst' to an already-underway shift toward virtual care, and digital platforms have all grown by a large margin. Providers and patients, who both expect greater flexibility in all aspects of their life, are demanding greater flexibility in the way they deliver and receive care.

Induction Joint CEO James Balmain, said : "Our union brings together two teams with a common ethos and complementary products and services. We are excited by the impact that Attend Anywhere had working with NHS Wales and look forward to giving staff and patients in Wales increasingly  flexible options for delivering and receiving care in the year ahead - even after local restrictions have been lifted."

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ENQUIRIES

Induction Dr Hugo Stephenson, Joint Chief Executive Officer	Via Walbrook PR Ltd: [e-mail]
James Balmain, Joint Chief Executive Officer
Singer Capital Markets (Nominated Adviser and Broker)	[phone]
Philip Davies / Kailey Aliyar
Walbrook PR Ltd	[phone]
Paul McManus / Alice Woodings

About Induction -   www.inductionhealthcare.com

Induction (AIM: INHC) is a leading virtual care platform driving digital transformation of healthcare systems worldwide. Induction solutions enhance the investments hospitals have made and lay the foundation for their future. Our products can enable information sharing between busy doctors, alleviate operational burdens on hospitals or put patients in better control of their care, all while ensuring the highest standards of clinical safety and information security. We unchain staff and patients from the limitations of paper-based and desktop systems, creating substantial time and cost efficiencies.

More than 225,000 hospital doctors across multiple territories, including the UK, Ireland, Australia and South Africa, as well as a rapidly growing number of more than 280,000 UK patients, choose Induction solutions.

Induction Switch is the number one healthcare collaboration app in the UK, used by the majority of hospital doctors within the NHS. The app helps to increase productivity and enhance communication by securely sharing phone numbers and bleeps, bookmarks, documents and messages in a clinical setting.

Induction Guidance provides medical organisations, including most hospital trusts within the NHS, with the ability to collaboratively create, edit, and publish their own local medical guidelines in a secure and locally administrated environment. This increases knowledge of, and adherence to, guidance.

Induction Zesty is a market-leading digital platform for patients visiting hospitals. The platform allows patients to book and access their appointments, read their clinical letters, store a copy of their clinical record and provide data to their care teams remotely. It is not just a compelling patient experience, but also delivers significant cost benefits to hospitals.

Induction HealthStream is a proprietary data integration platform that reads and writes patient demographic, appointment and clinical record data between a growing number of hospital EHR systems and the Induction platforms. This connectivity between stakeholders and legacy IT systems adds substantial value to pre-existing health IT investment and allows large-scale adoption of Induction app-based services.

Induction Attend Anywhere   - www.attendanywhere.com

Attend Anywhere   the UK market leader in secondary care video consultations, helps hospitals, health systems and other customers offer video consultations to patients and service users as a normal part of day-to-day operations, making it simple, safe and secure to   say   "yes you can attend your appointment via video".  Since 1998, Attend Anywhere has collaborated with clinicians and patients, medical colleges, universities, healthcare providers, governments, NGAs, and others to bring the benefits of mainstream video call access to health and care systems, with some Attend Anywhere programs now entering their 21st year.

Our vision is for video consultations to improve lives and help address social, access, equity and sustainability challenges by allowing healthcare providers to determine how and when they see a patient based on each individual case; in-person, via video or on the telephone. With the addition of Attend Anywhere, our promise of flexible care is truly in motion.

 

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