Thursday 12th January 2023
One Health Group plc ("OHG")
SEAL Advisors is pleased to announce the publication of an Initiation of Coverage briefing note on One Health Group plc (OHGR.AQSE)
Founded in 2004, One Health Group is a leading provider of NHS-funded medical procedures to GP referred patients based in England. It is a profitable, growing and cash generative business that provides high quality NHS-funded services at zero cost at the point of delivery and on a tariff set by the NHS. We expect the opening of two new surgical hubs to enhance the growth of its existing business to deliver a five-year group CAGR of 16% and 28% in revenue and earnings respectively.
• One Health operates out of 30 health clinics based in the Midlands and the North of England and utilises over 100 NHS consultants
• It focuses in areas where demand is high, service provision is unmet and where the level of private medical insurance cover is low
• Its currently provides NHS funded medical procedures in orthopaedics, spine, gynaecology and general surgery
• In the ten years to 2020, One Health grew sales at a CAGR of 18.4% to reach a peak of £20.8 million and is expected to grow to over £37 million by 2027
• On the basis of our current forecasts, One Health Group trades on an undemanding March 2023 PE of 14.9 and EV/sales of 0.7x
• Following the completion of its IPO at the end of November 2022, we initiate coverage with a DCF based valuation range for the company of between £27million and £39 million
The report is available HERE.
The report has been sponsored by OHG and does not constitute independent investment research under FCA Handbook rules. No investment activity in OHG's securities is being invited or induced by the publication of this report.
About SEAL Advisors
SEAL provides specialist research services for companies, investment institutions and the legal services industry. All of SEAL's research is bespoke and tailored to the individual needs of clients. SEAL produces macroeconomic, thematic and issuer-sponsored research. In addition, SEAL provides advice on all aspects of ESG.
For more information see: www.sealadvisors.com
Contact: research@sealadvisors.com
SEAL Advisors (a trading name of Scott Evans Associates Ltd) is an appointed representative of Messels Ltd which is authorised and regulated by the Financial Conduct Authority
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