Induction Healthcare Group PLC
(“Induction”, the “Company”, or the “Group”)
Unaudited Interim Results - for the six months ended 30 September 2024
Induction (AIM: INHC), a leading digital health platform driving transformation of healthcare systems, announces its unaudited interim results for the six months ended 30 September 2024.
The Company’s growth continues to be driven by the Zesty portal, evidenced by recent wins and growing ARR. Notwithstanding, the first half of the year was impacted by the early election call which caused some contracts to be paused. The new government’s emphasis on digital health investments, in addition to recent new business generation, provide a basis for the Company to return to material growth.
Financial Highlights
Operational Highlights
Post Period End Highlights
Secured £1.5m contract to digitise diagnostic referrals and bookings in North Central London ICS which will contribute to higher group revenue in H2.
Paul Tambeau, CEO of Induction Healthcare, said: “The Zesty portal continues to be our growth engine, with revenues up 51% compared to the same period last year. We also secured several new Zesty portal wins which will unseat our main competitors over the next two years. However, our plan for this year was negatively impacted by the early election as we had a number of contracts due to be completed in Q1 paused. With Labour's emphasis on reducing the elective recovery backlog, investing in the NHS App, and empowering patients to take more control over their health, Induction is in the right place at the right time to capitalise on growth. Our recent win in North Central London, along with upcoming pilot projects in cancer surveillance and smart uses of AI, provides a basis for Induction to get back onto a growth trajectory next year. We continue to manage cash carefully with no requirement for immediate funding.”
Enquiries
Induction
Christopher Samler, Chair +44 (0)7712 194092
Paul Tambeau, Chief Executive Officer +44 (0)7983 104443
Singer Capital Markets (Nominated Adviser and Broker) +44 (0)20 7496 3000
Philip Davies
Jalini Kalaravy
About Induction - www.inductionhealthcare.com
Induction (AIM: INHC) Induction delivers a suite of software solutions that transforms care delivery and the patient journey through hospital. 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.
Click here to view the full Interim Report 2024
