Induction Healthcare Group (INHC)

Sector:

Health Care

Index:

FTSE AIM All-Share

21.86p
   
  • Change Today:
      0.36p
  • 52 Week High: 65.50
  • 52 Week Low: 20.00
  • Currency: UK Pounds
  • Shares Issued: 92.30m
  • Volume: 85,000
  • Market Cap: £20.17m
  • RiskGrade: 132

Induction Healthcare shares rally following NHS England contract renewals

By Iain Gilbert

Date: Monday 11 Apr 2022

LONDON (ShareCast) - (Sharecast News) - Digital health platform operator Induction Healthcare has secured contract renewals with NHS England that will bring in £6.6m in annual recurring revenues.
Induction Healthcare said on Monday that following a recent contract renewal process across NHS England for remote consultation services in secondary care, its Induction Attend Anywhere contracts had been successfully extended or renewed across 94% of existing contracts - significantly above management expectations and takes effect from 1 April.

The AIM-listed firm stated £6.6m of annual recurring revenue would be recognised in the 2023 trading year as a result of the above contract renewals and also noted that in addition to that, while all contracts were previously for a one-year term, the new contracts had terms ranging between one and three years, with the majority committing to at least two years and resulting in an aggregate contract value of £10.9m.

Chief executive James Balmain said: "The conversion rate for these renewals, and the fact that the majority have opted for multi-year contracts, shows that our purpose-built technology has not only become a trusted, long-term solution for secondary care in the UK, but one of the most widely used technologies to be rolled out as part of the digital transformation of the NHS.

"This not only reinforces the significance of the acquisition but also the intrinsic value that Attend Anywhere brings to the group as part of an integrated and all-encompassing digital health platform."

As of 1025 BST, Induction shares had surged 17.49% to 51.11p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

INHC Market Data

Currency UK Pounds
Share Price 21.86p
Change Today 0.36p
% Change 1.66 %
52 Week High 65.50
52 Week Low 20.00
Volume 85,000
Shares Issued 92.30m
Market Cap £20.17m
RiskGrade 132

INHC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
31.36% above the market average31.36% above the market average31.36% above the market average31.36% above the market average31.36% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average
Price Trend
85.75% below the market average85.75% below the market average85.75% below the market average85.75% below the market average85.75% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Income Not Available
Growth
47.33% above the market average47.33% above the market average47.33% above the market average47.33% above the market average47.33% above the market average
61.11% above the sector average61.11% above the sector average61.11% above the sector average61.11% above the sector average61.11% above the sector average

INHC Dividends

No dividends found

Trades for 28-Mar-2023

Time Volume / Share Price
10:13 42,500 @ 20.07p
10:13 42,500 @ 20.00p

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