One Health Group PLC (AQSE:OHGR), which provides outsourced medical procedures for the NHS, will raise up to £7.5 million and float on London’s junior market.
As part of its step up to AIM from its current Aquis listing, the Sheffield-based company has launched a £7 million placing run by broker and proposed AIM nominated adviser Panmure Liberum, and is looking to raise roughly £0.5 million from retail investors via the Winterflood Retail Access Platform (WRAP).
The issue price will be 180p per share.
Of the placing funds raised, £5.2 million is for the company and £1.8 million for existing shareholders.
Management, led by CEO Adam Binns, plans to use the proceeds to build its first surgical hub, which it expects to cost £8-9 million, be operational within a year of construction starting and deliver £6-9 million of revenue per year.
Potted history
One Health Group was founded by orthopaedic consultant surgeon Derek Bickerstaff after leaving the NHS in 2000 and was admitted to trading on the AQSE Growth Market in November 2022.
The company now focuses on four of the highest-demand NHS outsourced specialties: orthopaedics, spinal surgery, general surgery and gynaecology.
It engages over 70 NHS consultant surgeons who work via a network of third-party clinics and independent hospitals, with One Health renting theatre space from independent hospitals for procedures.
Surgeries provided by One Health are paid for by the NHS, which in the first half of its current financial year treated 7,857 new patients, carried out 19,674 consultations and performed 3,427 surgical procedures.
Revenue for the six months ended 31 September came to £13.3 million.