The Board of Totally (AIM: TLY), the provider of a range of services to the healthcare sector, is pleased to announce that it has conditionally agreed to acquire the entire issued share capital of Premier Physical Healthcare Limited (“Premier”) for a maximum consideration of £6.75 million, based on the financial performance of Premier. Premier is a provider of physical healthcare services to both public and private patients.
Since its establishment in 1997, Premier has offered physiotherapy, podiatry and ergonomics services to a variety of clients. Premier provides a comprehensive range of treatments and advice for musculoskeletal injuries and conditions. Premier’s clinical staff are either chartered physiotherapists, orthopaedic and rheumatology rehabilitation consultants or state registered podiatrists. The majority of Premier’s revenue is derived from the provision of physiotherapy and podiatry to National Health Service patients.
Wendy Lawrence, Chief Executive of Totally said: “I firmly believe that the proposed acquisition is in the best interests of shareholders. The musculoskeletal services of physiotherapy, podiatry and ergonomics offered by Premier are entirely complementary to the Chronic Obstructive Pulmonary Disease (COPD), heart disease and diabetes treatments which have been the bedrock of Totally.
The Board also believes that there is significant potential to grow revenues in the area of musculoskeletal treatments as well as the opportunity to develop relationships with new Clinical Commissioning Groups which are key to our new business pipeline.
I look forward to welcoming our new colleagues from Premier and delivering sustainable and profitable growth across the healthcare sector focusing on out of hospital care. “This is an important first step in our strategy for expanding the Group and underpins our ambitions for growth.”
For more information visit TotallyPlc.com