TIDMINHC
RNS Number : 3662F
Induction Healthcare Group PLC
21 March 2022
Induction Healthcare Group PLC
("Induction", the "Company", or the "Group")
Scottish contract renewals secure GBP2m of annual recurring
revenues
Induction Attend Anywhere contract renewals with NHS Scotland
and Scottish Government
Induction in line to meet Market Expectations for year ending 31
March 2022
Induction (AIM: INHC), a leading virtual care platform driving
digital transformation of healthcare systems worldwide, announces
that NHS Scotland and the Scottish Government contracts for the
provision of remote consultation solutions using Induction Attend
Anywhere ("AA") have been successfully renewed for a further year.
Together these renewals secure approximately GBP2m of Annual
Recurring Revenues going into the year ending 31 March 2023.
Highlights:
-- AA national NHS Scotland contract renewed for 12 months to 31
March 2023
-- Further renewals from Scottish Government reinforce
non-healthcare application
-- AA remains Scotland's public service remote consultation
platform of choice
Induction Attend Anywhere is the UK market leading video
consultation service used in secondary care, with growing adoption
in non-healthcare settings. The service provides the option of a
simple patient-centric video consultation that benefits* both
patients (reducing the time, expense and stress of travelling) as
well as clinicians and health systems (optimising the time and
capacity of staff, relieve on-site congestion, benefits from fewer
no-shows, and saves money). Attend Anywhere aims to improve lives
and help address social, access, equity, and sustainability
NHS Scotland - UK leaders in video consultation deployment
Induction Attend Anywhere is a purpose-built suite of services,
tools, and resources that have introduced video consultations into
everyday practice across all NHS Scotland Health services. It
offers patients the option to attend a health or care appointment
via video, in a way that benefits the patients, healthcare
professionals and the health and care system.
The Induction Attend Anywhere service is currently available to
all NHS Scotland Health services across all 14 regional health
boards and is branded as Near Me . The service was first introduced
to the NHS in Scotland in 2016 and this initial deployment provided
the blueprint for NHS England's rollout of the service just prior
to the pandemic. NHS Wales also renewed its existing contract with
Induction in July 2021, with an update and expansion of its current
scope that now sees AA and other Induction products used widely
across Wales.
The deployment of Induction Attend Anywhere has been highly
successful across NHS Scotland, both by number of consultations
undertaken, but also the estimated cost savings made for both
patients and health services. Over 985,000 Near Me video
consultations took place between January 2021 and January 2022. NHS
Scotland has estimated that over the last two years the
environmental impact of Attend Anywhere has avoided around 47
million miles of patient travel.
The renewed contract will incorporate Induction's newly launched
clinical group consultations, where one-to-one consultations take
place within a group setting of patients with similar clinical
conditions.
Scottish Government renewal to support social security
system
The Scottish Government has also extended its contract with
Induction to provide remote consultations for non-health public
services support. This is another area where Scotland was at the
vanguard of digital transformation for public services, having used
video consultation services initially to support Scotland's social
security system since 2020, with the opportunity for future use by
other public funded bodies in Scotland.
This example of successful deployment in Scotland foreshadowed
the decision by the Department of Work and Pensions to include
Induction Attend Anywhere in a two-year contract award to support
of the virtualisation of the UK benefits system , as announced in
November 2021 .
James Balmain, Chief Executive Officer of Induction, commented:
"Scotland has been a pioneer in driving remote consultations in the
UK and was the home for our first major national contract for
Induction Attend Anywhere. With the support of NHS Scotland and the
Scottish Government we have shown that our products can be relied
upon to deliver digital transformation strategies both within and
beyond healthcare settings. We look forward to updating
shareholders on further successful renewals in due course.
"Induction remains on course to deliver very significant revenue
growth this year in line with market expectations. We fully expect
to see this exciting growth continue into the new financial year.
These contract renewals are the first positive milestones in our
renewal strategy and set out the pattern we expect to see across a
very high proportion of our existing contracts in England."
ENQUIRIES
Induction Via Walbrook PR Ltd: induction@walbrookpr.com
James Balmain, Chief Executive Officer
Guy Mitchell, Chief Financial Officer
Singer Capital Markets (Nominated
Adviser and Broker) +44 (0)20 7496 3000
Philip Davies / Kailey Aliyar
Walbrook PR Ltd induction@walbrookpr.com
Paul McManus / Stephanie Cuthbert Mob: +44(0)7980 541 893 / +44 (0)7796
794 663
About Induction - www.inductionhealthcare.com
Induction (AIM: INHC) Induction delivers a suite of software
solutions through a single integrated platform that transforms care
delivery. Our system-wide applications help healthcare providers
and administrators to deliver care at any stage remotely as well as
face-to-face - enabling a more flexible, efficient and positive
experience for the communities they serve . Purpose built for
integration with leading Electronic Medical Record (EMR) platforms,
our products offer immediate stand-alone value that becomes even
greater when integrated with pre-existing systems.
Used at scale by national and regional healthcare systems, as
well non-health government services, our applications are relied
upon by hundreds of thousands of clinicians and millions of
patients across almost every hospital in the British Isles.
*For information on the independently recognised benefits of
video consultations in secondary care please refer to Edge Health
report September 2021: Home | Edge Health | England
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