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Admission to trading on the AQSE Growth Market and Fundraise

24 November 2022

One Health Group plc

(“One Health” or the “Company”)


Admission to trading on the AQSE Growth Market and Fundraise


One Health Group plc (AQSE: OHGR), a provider of NHS-funded medical procedures, announces its first day of dealings and Admission of its ordinary shares to trading on the Apex segment of the AQSE Growth Market (“Admission”) at 8.00am today under the ticker “OHGR” and ISIN GB00BNNT0595.

The Company has undertaken a Placing and Subscription which have raised, in aggregate, gross proceeds of £1,555,000, at a price per share of 150 pence (the “Issue Price”).  On Admission, the Company will have 10,033,333 ordinary shares in issue, which implies a market capitalisation of the Company of £15.05 million, at the Issue Price.  


Key Highlights

One Health

  • One Health is a provider of medical procedures, focused on four specialties;  Orthopaedics, Spinal Surgery, General Surgery and Gynaecology.
  • The medical procedures provided are funded by the NHS on NHS national tariff rates and are therefore delivered free to the patient at the point of delivery.
  • One Health is a part of the local NHS supply chain, operating as part of the ‘Patient Choice’ initiative, which was introduced by the National Health Service Act in 2006.
  • Under this policy, patients whose GPs have referred them for potential surgery, have the right to choose their own treatment provider for certain procedures. This may be the NHS, a voluntary provider, or companies operating in the independent sector.
  • One Health achieved revenue of £9.7 million in the six months to 30 September 2022, at a gross margin of 16.7%, and has seen new patient referrals 11% above the level experienced in the year to 31 March 2020 (being the last year prior to the COVID-19 pandemic)
  • Since 2012 the Company has paid out a total of £1.6m in dividends and, subject to its financial position and obligations, intends to pay up to 50% of annual profits after tax in future.
  • One Health is asset light and highly cash generative.  As at 31 March 2022, net cash was £3.68 million.

Admission Details

  • The Placing and Subscription were conducted at a price of 150 pence per ordinary share and, will have a market capitalisation of approximately £15.05 million.
  • The Company issued 33,333 shares at 150 pence per share, pursuant to the Subscription.
  • The net proceeds of the Placing and the Subscription, to be received by the Company, following repayment of indebtedness by the One Health Group EBT Trustee, will be applied to working capital for the development of the Company and to fund irrecoverable VAT.
  • The Company’s Admission Document is available to view on its website at www.onehealth.co.uk/investors
  • Admission to the AQSE Growth Market is expected to take place at 8.00 a.m. (UK time) today.
  • On Admission, the Company will have a free float of approximately 26.8%.

Oberon Capital acted as the Company’s AQSE Corporate Adviser and Broker in relation to the Admission and the Placing and Subscription, and is acting as the Company’s AQSE Corporate Adviser and Broker from Admission.  Oberon Capital is a trading name of Oberon Investments Limited.


Derek Bickerstaff, Chairman of One Health, said:

“We are delighted at becoming a publicly traded company by joining the AQSE Growth Market. One Health has currently achieved, and continues to achieve, revenue growth through the use of facilities within existing private hospitals and excess capacity offered by NHS facilities and the growing awareness of its services among medical practitioners and patients in our areas of operation.”


Adam Binns, Chief Executive Officer of One Health, added:

“We are also targeting additional surgeons that are looking to acquire AQP status and/or increase their own potential through use of the incremental infrastructure offered by the Company. This includes the provision of medical procedures through surgical hubs which is in line with government policy and is strongly supported by the NHS and the Royal College of Surgeons.”


For more information, please contact:


One Health Group plc

+44 114 250 5510

Adam Binns, Chief Executive Officer


Oberon Capital – AQSE Corporate Adviser and Broker

+44 203 179 5300

Nick Lovering

Mike Seabrook

Adam Pollock


Square1 Consulting

+44 207 929 5599

+44 7831 381201

David Bick

About One Health Group

One Health engages over 100 NHS Consultants who sub-specialise in the various surgeries offered by the Company, through a growing network of community-based outreach clinics and surgical operating locations. Prior to the Covid-19 pandemic, on an annual basis, One Health serviced in excess of 10,000 new patients, through over 30,000 consultations and performed over 7,000 surgical procedures. One Health uses surgeons and anaesthetists that are mostly employed by the NHS, on a consultancy basis. It currently works with over 100 professionals across 7 hospitals and 20 CQC registered clinics.

One Health’s activities are focused on areas where the patient needs are under-supplied by the local NHS service as well as locations where population density is relatively high, and the level of private medical insurance is relatively low. One Health has also sought to expand geographically from its Head Office in Sheffield into neighbouring counties, which meet the required criteria. Currently, the Company’s activities are focused in Yorkshire, Lincolnshire, Derbyshire, Nottinghamshire and Leicestershire. Revenue in the year to 31 March 2022 was derived from 40 Clinical Commissioning Groups in addition to contracts with NHS hospitals.

One Health’s business model has focused to date on four main areas: being Spine, Orthopaedics, General Surgery and Gynaecology. The split of inpatient procedures in the year to 31 March 2020 was as follows: Spine 32% Orthopaedics 27% General Surgery 29% Gynaecology 12%.

Spine and orthopaedics are particularly attractive areas for One Health as the Directors believe that they benefit from powerful growth drivers in terms of an ageing demographic, physical inactivity and an increasing proportion of the population being categorised as obese. Within orthopaedics, the most common surgeries performed by One Health are knee and hip replacements.

One Health delivered 4,870 procedures in the year to 31 March 2022 and the Directors expect the Company to deliver approximately 5,500 procedures in the year to 31 March 2023.


Directors and Management Team

Derek Bickerstaff, 63, Non-Executive Chairperson. With over 30 years’ experience, Derek is recognised as one of the UK’s leading knee surgeons. He has accepted referrals nationally and internationally including many high-profile athletes. Derek has held appointments as the Knee Tutor at the Royal College of Surgeons of England and served as an executive member of the British Association of Surgery of the Knee. He has also served on the board of the Journal of Bone and Joint Surgery. Derek is frequently invited to lecture on knee surgery at national and international meetings. Derek left the NHS in to establish the Company in 2001, whilst continuing surgical activity in support of the business, retiring from clinical practice in 2022.

Adam Binns, 54, Chief Executive Officer.  Adam joined One Health in January 2018 as Project Director & COO. He was then appointed Finance Director in May 2018 and Chief Executive in July 2019. Prior to One Health, Adam worked for Wincanton PLC between 2007 and 2017, latterly as General Manager, for Unipart Group Limited between 2000 and 2006, latterly as Divisional Financial Planning Manager, and for Allied Domecq Limited, Morland PLC and Greene King Limited. He qualified as a management accountant with the Chartered Institute of Management Accountants in 2003.

Shantanu Shahane, 56, Medical Director. Shantanu is a Consultant Orthopaedic Surgeon with over 20 years’ experience, based at Chesterfield Royal Hospital. He was appointed as Medical Director of the Company in July 2019. He has Board responsibility for Clinical Governance and Quality and leads the Group’s Clinical Governance Team and the delivery of high-quality clinical care for patients. Shantanu also leads the strategic transformation of the Group’s healthcare provision, through partnership within and across the Group’s established network of Surgeons, Anaesthetists, Physiotherapists, Clinic and Hospital Partners.

Jessica Sellars, 39, Director of Operations and Service Development. Jessica joined One Health in May 2005, initially as Contracts Manager. Subsequently, she was appointed Business & Corporate Governance Manager in 2008, Associate Operations Director in 2014 and Director of Operations & Service Development in 2020. She also held the role of the CQC Registered Manager for the organisation since 2019. Prior to joining to One Health, she worked with Debenhams as a Graduate Retail Manager. In her current role, Jessica is responsible for the establishment, development and optimisation of day-to-day operations, in addition to developing and implementing key growth strategies. She has a degree in Business Studies from Sheffield Hallam University and an MSC in Leadership in Management.

Helen Pitcher OBE, 64, Non-Executive Director. Helen is an experienced chair, board member, board facilitator and coach, working across a range of public, professional services, private equity and family-owned businesses. She was awarded an OBE for services to business in 2015. Helen is a non-executive director of United Biscuits (UK) Limited and a non-executive director of C & C Group Plc where she is chair of their Remuneration Committee and a member of the Nomination and ESG Committees. In addition to her role with a leading board effectiveness consultancy, Advanced Boardroom Excellence, Helen is chair of the Criminal Cases Review Commission, the Public Chairs’ Forum and Vice President of IAA Global Clubs. Helen is the President of KidsOut (a National Children’s Charity) and sits on the Advisory Board for Leeds University Law Faculty. Helen is a Fellow of the Institute of Directors, CIPD, CIM, RSA and a Member of the European Corporate Governance Institute.

Nick Parker, 62, Non-Executive Director. Nick is an experienced corporate funding expert with strong financial acumen attained through formal accountancy training. Nick oversaw the IPOs of both Northcoders Group PLC and Wandisco PLC and was CFO of Yü Group plc, Dyson Group plc and Volex PLC, as well as being the CEO of Sheffield Wednesday Football Club PLC.

Dr Zachary McMurray, 59, Non-Executive Director. Zak is the Medical Director of the NHS Sheffield Clinical Commissioning Group. He qualified as a doctor in 1988 and became a partner at Woodhouse Medical Centre, where he remained for over 20 years. He was elected to the South East Sheffield Primary Care Group in 1999 as a board member and acted as mental health and commissioning lead before taking over as PEC Chair. Zak became joint PEC Chair on the creation of the Sheffield Primary

Care Trust, moving to Joint Clinical Director within the Sheffield Clinical Commissioning Group. Senior management

The Directors are supported by the following key senior managers:

Lisa Johnson, 41, Head of Finance Lisa joined One Health in 2004 and has been instrumental in the growth of the organisation since it was established, successfully progressing from Finance Assistant to Head of Finance. She is responsible for delivery the organisation’s financial strategy, working closely with NHS and independent hospital partners on contract negotiation and delivery, consultant management and leading the finance team.

Nicole Gent, 30, Head of People and Performance Nicole joined One Health in 2015, initially as Patient Liaison Department Manager, before being appointed as Head of Service Delivery in 2019. She became Head of People & Performance in January 2022, with responsibility for management of the Company’s Human Resource, with a focus on diversity and inclusion colleague experience, leadership development and performance management. Previously, Nicole worked with Holling Richards Limited, who provided Specialist Insolvency Services. Nicole is currently studying towards her CIPD qualification to further enhance her knowledge and support her experience.

Whether you're a patient or healthcare professional, if you have any questions about One Health Group, don't hesitate to get in touch.

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