Induction Healthcare Group PLC - London-based software company serving healthcare providers and administrators - Wins £1.5 million contract to ‘transform’ patient access to diagnostic tests across the North Central London Integrated Care System. The project will connect the Royal Free London NHS Foundation Trust, Whittington Health NHS Trust and community diagnostics centres in Wood Green and Finchley, to enable smoother referrals and bookings. The majority of new contract revenue will be recognised in financial 2025, and Induction is due to release its interim results for the six months that ended September 30 on November 5.
Chief Executive Officer Paul Tambeau says: ‘Induction will be the first portal provider to integrate disparate electronic systems across a region to facilitate diagnostic tests for patients, while at the same time giving patients greater control over their care. Induction will own the platform [intellectual property]. Digitising and individualising care pathways across an ICS aligns with our renewed corporate strategy, and we believe that this contract provides a basis for growth into the future.’
Current stock price: 8.40 pence, up 12% in London on Wednesday morning
12-month change: down 67%
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