Commencement of Strategic Review

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018 ("UK MAR"). With the publication of this announcement, this information is now considered to be in the public domain. 

Totally plc

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

Commencement of Strategic Review

Further to the trading update published earlier this morning, Totally announces that its board of directors (the "Board") has decided to conduct a formal review of the various strategic options available to the Group with the primary purpose of strengthening the balance sheet (the "Strategic Review").

As part of the Strategic Review, the Board will consider a number of strategic options including (but not limited to) selling one or more of the Company's subsidiaries (or portion thereof), receiving strategic investment or undertaking some other form of comparable corporate action to this (the "Strategic Options").

The Company has appointed Ernst & Young ("EY") as its adviser to assist with the Strategic Review.

Parties interested in submitting any expression of interest or other proposal(s) relating to any of the Strategic Options for the business, should contact EY through the contact details set out below. It is currently expected that any party interested in submitting any form of proposal for consideration in connection with the Strategic Review will, at the appropriate time, enter into a non-disclosure agreement and standstill arrangement with the Group on terms satisfactory to the Board and on the same terms, in all material respects, as other interested parties before being permitted to participate in the process. The Group then intends to provide such interested parties with certain information on relevant parts of the business, as necessary.

Shareholders are advised that there can be no certainty that any of the Strategic Options will be concluded, nor as to the terms on which any of the the Strategic Options may be made.

The Board will update shareholders on the progress of the Strategic Review and make further announcements in due course, as appropriate.

For the avoidance of doubt, the Board is not soliciting offers for the Group under the Takeover Code.

For further information please contact:

Notes to editors

About Totally

Totally is a leading provider of healthcare and wellbeing services across the UK and Ireland, working in partnership with the NHS, other healthcare providers and corporate customers to help address the challenges of increased demand for healthcare services.

Totally helps healthcare commissioners and hospitals ensure patients can access the most appropriate care quickly and efficiently by delivering quality urgent care services, elective care services including insourcing, outsourcing and elective care delivered via 'Any Qualified provider', as well as community dermatology clinics; and therapy servicing including first contact practitioner and a full physiotherapy and podiatry offering. Our corporate customer services also play a role in reducing reliance on healthcare by promoting healthy lifestyles and physical and mental health.

Healthcare services

Urgent Care: Totally's urgent care services are delivered under the Totally Urgent Care brand, by Vocare and Greenbrook Healthcare. Both businesses have a strong heritage.

Elective care: Totally's elective care services are delivered by Pioneer Healthcare, About Health and Premier Physical Healthcare.

· Pioneer Healthcare was established in 2007 and delivers a wide range of acute services to NHS patients, in partnership with independent healthcare sector private hospitals across England, to help the NHS reduce waiting lists whilst maintaining patient care and quality. Pioneer offer services through insourcing and outsourcing agreements and through its Any Qualified Provider status. 

· About Health has been delivering community-based specialist care with a focus on delivering prompt assessment and treatment across the country since 2008.

· Premier Physical Healthcare was established in 2007 and provides physiotherapy and podiatry services to NHS patients, often within a community GP practice, and to the prison service.

Corporate Wellbeing Services

Energy Fitness Professionals ("EFP"): EFP is a corporate fitness provider established in 1990 to address a gap in the market for workplace fitness, which has grown to offer a range of services covering workplace wellbeing. EFP manages 62 gyms on behalf of its corporate customers, with more than 13,000 members.

For more information visit www.totallyplc.com 

Ernst & Young, EY

EY, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for Totally and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Totally for providing the protections afforded to its clients or for providing advice in relation to the subject matter of this announcement.

The person responsible for arranging the release of this announcement on behalf of Totally is Simon Stilwell.