Induction Heal. Regulatory News (INHC)

Induction Healthcare Group PLC

("Induction", the "Company", or the "Group")

Induction Attend Anywhere wins DWP contract

Induction Attend Anywhere to provide video conferencing to virtualise parts of the UK benefits system

Induction (AIM: INHC), a leading virtual care platform driving digital transformation of healthcare systems worldwide, announces that a two-year contract has been awarded by the Department of Work and Pensions ("DWP") to Induction's partner Involve Visual Collaboration Limited ("Involve"), a UK video specialist, to provide communications services to support the virtualisation of the UK benefits system. The contract includes options for the DWP to extend the agreement term for up to a further two years.

As part of this significant contract, Induction will supply DWP with its web-based video consultation platform, Induction Attend Anywhere, allowing members of the public to hold a video consultation with DWP assessors in relation to their financial support needs as an alternative to a face-to-face meeting.

The contract value to Involve is up to £3.95m for the initial two years, totalling up to £7.79m for the full four years.

The contract value to Induction is up to £2.6m for the initial two years, based on usage, totalling up to a maximum of £5.2m for the full four years, assuming the contract is extended for the additional two years. There will be a small contribution of around £150K to the Group's revenue in the current financial year.

This is Induction's first major contract outside of the healthcare sector, underlining the expansion potential for Induction Attend Anywhere and other Induction systems.

Induction Attend Anywhere will be used by DWP as part of its Strategic Digital Video Project to virtualise key business units within the department. It will be used to connect with claimants and will allow DWP the option to manage its assessments virtually as well as providing recording capabilities across all departments including Personal Independent Payments, Universal Credit, Industrial Industries Disablement Benefit, Employment & Support Allowance, Fraud and other key business units.

Video specialist Involve is the sole UK sales partner of Induction Attend Anywhere and has over 30 years of experience delivering best in class audio visual and collaboration solutions across healthcare, corporate, legal and public sector markets. Involve partnered with Attend Anywhere in 2020 and already jointly supply video consultations to several UK and European organisations including the MoD and the Health Service Executive in Ireland, supporting over 300,000 virtual consultations lasting over 10,000,000 minutes.

The Induction Attend Anywhere platform was chosen from a shortlist of providers and the contract award follows a competitive process. The contract was awarded through Crown Commercial Service's G-Cloud 12 framework. Crown Commercial Service supports the public sector to achieve maximum commercial value when procuring common goods and services. The Board understands that in 2020/21 Crown Commercial Service helped the public sector to achieve commercial benefits equal to £2.04 billion1 - supporting world-class public services that offer best value for taxpayers.

Investor Presentation

James Balmain, Chief Executive Officer, will be hosting a live online presentation relating to this contract win via the Investor Meet Company platform at 4.30pm (GMT) on Wednesday 17 November 2021. The presentation is open to all existing and potential shareholders.

Investors can sign up to Investor Meet Company for free and register for the presentation here:

https://www.investormeetcompany.com/induction-healthcare-group-plc/register-investor 

Mick Roach, Director of Strategic Health Alliances at Involve, commented: "We are delighted to continue our close partnership with Induction and Attend Anywhere to support the growth of our virtual service. Induction Attend Anywhere will be used by DWP to connect with members of the public. As the pandemic has driven the demand for virtual meetings, Involve are proud to have played a key role is supporting Induction Attend Anywhere in gaining traction across the UK with its cloud based platform that saves both time and resources as well as offering increased flexibility for our customers and anyone who needs to interact with them."

James Balmain, Chief Executive Officer of Induction, commented: "This is our first major contract outside of the healthcare space and exemplifies the versatility of Induction's platforms as we look to expand from the secondary healthcare market. We are pleased to be working alongside Involve to support DWP's virtualisation of the UK benefits system and hope that this will be a strong driver in the recognition of Induction's platforms as an adaptable solution as we continue to build on our strong sales momentum."

1 https://www.crowncommercial.gov.uk/news/rising-to-the-challenge-ccs-publishes-its-annual-report-and-accounts-2020-21

ENQUIRIES

About Induction -  www.inductionhealthcare.com

Induction (AIM: INHC) is a leading virtual care platform driving digital transformation of healthcare systems worldwide. Induction solutions enhance the investments hospitals have made and lay the foundation for their future. Our products can enable information sharing between busy doctors, alleviate operational burdens on hospitals or put patients in better control of their care, all while ensuring the highest standards of clinical safety and information security. We unchain staff and patients from the limitations of paper-based and desktop systems, creating substantial time and cost efficiencies.

More than 225,000 hospital doctors across multiple territories, including the UK, Ireland, Australia and South Africa, as well as a rapidly growing number of more than 300,000 UK patients, choose Induction solutions.

Induction Switch is the number one healthcare collaboration app in the UK, used by the majority of hospital doctors within the NHS. The app helps to increase productivity and enhance communication by securely sharing phone numbers and bleeps, bookmarks, documents and messages in a clinical setting.

Induction Guidance provides medical organisations, including most hospital trusts within the NHS, with the ability to collaboratively create, edit, and publish their own local medical guidelines in a secure and locally administrated environment. This increases knowledge of, and adherence to, guidance.

Induction Zesty is a market-leading digital platform for patients visiting hospitals. The platform allows patients to book and access their appointments, read their clinical letters, store a copy of their clinical record and provide data to their care teams remotely. It is not just a compelling patient experience, but also delivers significant cost benefits to hospitals.

Induction Attend Anywhere is the UK market leader in secondary care video consultations. It helps hospitals, health systems and other customers offer video consultations to patients and service users as a normal part of day-to-day clinical activity. Our vision is for video consultations to improve lives and help address social, access, equity and sustainability challenges by allowing healthcare providers to determine how and when they see a patient based on each individual case: in-person, via video or on the telephone.

Induction HealthStream is a proprietary data integration platform that reads and writes patient demographic, appointment and clinical record data between a growing number of hospital EHR systems and the Induction platforms. This connectivity between stakeholders and legacy IT systems adds substantial value to pre-existing health IT investment and allows large-scale adoption of Induction app-based services.