TIDMTLY
RNS Number : 9001G
Totally PLC
01 June 2017
01 June 2017
Totally plc ("Totally", "the Company" or the "Group")
Payment of initial tranche of deferred consideration pursuant to
the acquisition of Optimum Sports Performance Centre Limited
On 15 November 2016 Totally plc (AIM: TLY), the provider of a
range of out-of-hospital services to the UK healthcare sector,
announced the acquisition of the entire issued share capital of
Optimum Sports Performance Centre Limited ("Optimum"), an
established provider of physiotherapy services in the UK.
The maximum consideration for the acquisition of Optimum is
GBP650,000, based on its financial performance. The initial
consideration, payable to the vendors of Optimum on completion, was
satisfied through a cash payment of GBP400,000 (the "Initial
Payment"). Under the acquisition agreement entered into between
Totally and the vendors of Optimum on 14 November 2016, there are a
further two potential deferred payments payable based on the
financial performance of Optimum for the years ended 31 December
2016 and 31 December 2017. Further details on the deal structure
are detailed in the announcement released by the Company on 15
November 2016.
The Board of Totally is pleased to report that the first
deferred payment was completed on 1 June 2017. Optimum's financial
performance for the first earn-out period ended 31 December 2016
has been in line with the Board's expectations and this has
resulted in a payment of GBP85,453 in cash being made to the
vendors of Optimum (the "Y1 Payment"). The Y1 Payment has been
calculated on the basis of 100% of the audited EBITDA of Optimum
for the year ended 31 December 2016.
Wendy Lawrence, CEO of Totally, commented: "Since our
acquisition of Optimum in November 2016 the business has performed
strongly and as such we are pleased to be able to announce the
payment of this initial tranche of the deferred consideration. By
basing our earn out agreement for the acquisition around financial
performance we have been able to ensure alignment between the
Optimum team and the goals of the wider group.
"Optimum's integration has added new services and strategic
options to the wider Group and provided significant incremental
revenue opportunities. Its performance to date has demonstrated
Totally's ability to successfully acquire and incorporate high
quality businesses that share its vision for out of hospital
healthcare as part of our core buy-and-build strategy. We look
forward to updating the market as we progress this strategy
further."
ENDS
For further information please contact:
020 3866
Totally plc 3335
Wendy Lawrence, Chief Executive
Bob Holt, Chairman
Allenby Capital Limited (Nominated 020 3328
Adviser & Joint Corporate Broker) 5656
Nick Athanas
Virginia Bull
Richard Short
Cenkos Securities plc (Joint Corporate 020 7397
Broker) 8900
Alex Aylen - Sales
Bobbie Hilliam - Corporate Finance
0776 932
Yellow Jersey PR 5254
Felicity Winkles
Joe Burgess
Notes to Editors
Totally plc aims to become the leading 'out of hospital'
healthcare service provider in the UK, helping to address some of
the biggest challenges faced by the UK healthcare sector. By
working to deliver preventative and responsive care through its
subsidiaries across multiple disciplines, Totally's goal is to
improve people's health, reduce healthcare reliance, re-admissions
and emergency admissions.
Totally, via its subsidiaries, operates within the UK's
outsourced healthcare market, estimated to be worth in excess of
GBP20bn per year for the NHS alone. These services include care in
the community, GP surgeries, patents' homes, prisons and other
public sector organisations, places of work as well as mobile
locations.
The Company is currently engaged in delivering a progressive
'buy and build' consolidation strategy within the UK's fragmented
healthcare market and raised GBP17 million in February 2017 to
capitalise on the attractive opportunities that its disruptive,
outcome-based, outsourced healthcare service model offers, to
ultimately deliver value to shareholders as it continues to build
critical mass in 2017 and beyond.
www.totallyplc.com
Premier Physical Healthcare - occupational physiotherapy to NHS,
prisons and the police force (acquired April 2016)
A wholly owned subsidiary of Totally plc, provides a
comprehensive range of treatments and advice for musculoskeletal
injuries and conditions. It delivers physiotherapy and podiatry to
NHS patients and also has contracts with various police forces and
prison sites; as well as providing occupational health and
ergonomic services to corporate clients, such as display screen
equipment assessments; post-injury returns to work suitability
assessments; podiatry treatment; and sports massage services.
Totally completed the acquisition of Premier Physical Healthcare
Limited on 1 April 2016.
www.premierphysicalhealthcare.co.uk
About Health Limited - provider of community based dermatology
services and referral management services (acquired June 2016)
A wholly owned subsidiary of Totally plc and a leading provider
of dermatology and referral management services to the NHS in the
UK. About Health has been providing community based health services
under contract to the NHS since 2009 and the company is CQC
registered. Totally completed the acquisition of About Health
Limited on 15 June 2016.
www.abouthealthgroup.com
Optimum Sports Performance Centre Limited - providing
physiotherapy to private markets (acquired November 2016)
A wholly owned subsidiary of Totally plc, provides physiotherapy
services in 24 towns across 10 counties in the UK. Optimum has a
talented team of physiotherapists, strength and conditioning
coaches and rehabilitation specialists to assist clients both in
injury recovery and in training to prevent injuries occurring.
Optimum became one of the first physiotherapy providers in the UK
to obtain ISO9001:2008 certification in 2013. Totally completed the
acquisition of Optimum Sports Performance Centre Limited on 14
November 2016.
www.optimumsportsperformance.com
Totally Health - clinical health coaching via B2B model to the
NHS and the private sector
A wholly owned subsidiary of Totally plc, provides an innovative
model of medically driven, and personalised Clinical Health
Coaching to educate patients and give them confidence to
self-manage their conditions. The service supports the management
of long term conditions in patients such as chronic obstructive
pulmonary disease (COPD), diabetes and wider wellness issues such
as smoking cessation and obesity management.
www.totallyhealth.com
My Clinical Coach - direct-to-consumer health-coaching service
and a part of Totally Health
It covers all health conditions and is targeted at patients with
either a diagnosed long-term condition or patients who are looking
for support to improve their health. Individuals or their families
can choose to subscribe to the service, which is a personal,
professional, clinically-focused and patient-centered service,
tailored for each individual.
www.myclinicalcoach.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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