Checkit Regulatory News (CKT)

20 January 2025

Checkit plc

("Checkit" or the "Group")

Contract renewals and wins

Checkit (AIM: CKT), the automated monitoring platform for operational leaders, is pleased to announce contract wins in the US and the UK and a number of strategic extensions with UK customers.

UK

One of the largest private healthcare providers in the world has renewed its existing agreement with Checkit for a further three and a half years and extended usage of the Checkit platform to a further four additional sites (bringing the total number to 37 sites). The upsell increases the annual contract value (ARR) by £98,000 with a total contract value of c.£800,000.

Following a competitive procurement process, a leading NHS teaching hospital has extended its agreement with Checkit to cover all pathology departments for a period of three years. This further increases the annual value of the contract by approximately £80,000 per year for a total contract value of c.£372,000.

Following an extensive competitive tender, a network of four pathology laboratories which serves over a million patients has signed a seven-year agreement to implement the Checkit solution across five NHS Trusts. Total contract value for the seven year agreement is £440,000 with further expansion opportunities including digitisation of manual compliance checks actively being discussed.

Frimley NHS Foundation Trust has renewed their agreement with Checkit for a further five years for a total contract value of £650,000.

Nuffield Health has renewed its agreement with Checkit for three years and will extend the use of our solution to three additional hospital sites with a total contract value of £420,000.

A number of net new customers were acquired during H2 in the UK including an initial contract with Thomas Franks, a contract caterer with a focus on business, industry and the independent school sector, and four more contracts with Compass Contract Services (U.K) (bringing the total number of Compass related sites to 29) and Ramsay Health Care UK Operations Limited. Checkit is now used by five of the top six private hospital providers in the UK.

US

In H2, Checkit opened a new market in the United States by signing three new contracts with care home providers with a total contract value of £340,000 over 3 years. Elsewhere, the Group is pleased to announce a contract with CBRE that presents significant upsell and cross sell potential in line with Checkit's "land and expand" strategy. Checkit also secured a new contract with Canadian Plasma Resources Corporation doing business as Grifols across 16 sites with a total contract value of £160,000 over three years. This latest win in the blood plasma industry underlines Checkit's position as the leading provider of medical monitoring services in the North American market; Checkit now supports six of the top ten largest plasma companies and operates across 50 US states.