Induction Healthcare Group PLC Four London NHS Trusts sign with Induction Zesty (0241H)
April 04 2022 - 2:00AM
UK Regulatory
TIDMINHC
RNS Number : 0241H
Induction Healthcare Group PLC
04 April 2022
Induction Healthcare Group PLC
("Induction", the "Company", or the "Group")
Four London NHS Trusts sign with Induction Zesty
NHS Trusts in South West London partner with Induction to
support long-term outpatient care transformation
Induction (AIM: INHC), a leading virtual care platform driving
digital transformation of healthcare systems worldwide, announces
that the South West London Integrated Care System ('ICS') will
deploy Induction Zesty to support their outpatient transformation
programme. The partnership comes at a time of significant national
focus and spending on digital transformation for NHS secondary care
providers in England, and Induction Zesty can play its part
supporting Trusts across South West London ('SWL').
Induction Zesty is a digital front door for hospitals, with an
intuitive interface that empowers patients to take control of their
appointments, correspondence and virtual consultations from the
convenience of their smartphone. For the first time, patients can
see a joined up view of their care journey, spanning multiple care
providers, via a single digital platform.
Comprising four of the acute NHS Trusts within SWL, the combined
contracts have terms ranging between 2 and 9 years and will result
in total revenue of c. GBP3,600,000 with an ARR of around
GBP650,000 from FY23 onwards. We expect to recognise around GBP450K
of revenue in FY23 in respect of these contracts as implementation
work is completed and the sites go live . The contracts were in
part driven by a strategic collaboration with Cerner Corporation
("Cerner") (NASDAQ: CERN) and Induction, who created a joint
product, made available as part of a value-added reseller agreement
to NHS Trusts that are already Cerner clients as an extension to
their existing Cerner EPR contracts.
In June 2021, Induction acquired Attend Anywhere which is South
West London's preferred platform for remote video consultations.
The opportunity to combine both platforms' complementary
capabilities will strengthen patient engagement and underpins the
Company's growth strategy for FY23 and beyond.
Induction CEO, James Balmain, said: "This is an exciting first
step and strong proof point in our strategy to support regional
digital transformation via newly forming Integrated Care Systems.
We have a strong pipeline of further Cerner customers who are keen
to purchase the joint Induction / Cerner patient portal. Equally
encouraging is the positive reaction we've seen from customers
around the integration of Attend Anywhere into our Induction Zesty
product."
- ENDS-
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 +44 (0)20 7933 8780
Paul McManus / Alice Woodings
About Induction - www.inductionhealthcare.com
Induction (AIM: INHC) Induction delivers a suite of software
solutions through a single integrated platform that transform care
delivery. Our system-wide applications help healthcare providers
and administrators to deliver care at any stage remotely as well as
face-to-face - giving the communities they serve greater
flexibility, control and ease of access . 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.
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END
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