One Health Group (AIM:OHGR) announced that revenue for the six months to 30 September rose 17% to £18.3m, with underlying EBITDA expected to come in ahead of the £1.18m reported for the same period last year.
The AIM-listed provider of NHS-funded elective surgery, which treats patients referred through the NHS Patient Choice pathway, told investors that the first-half performance keeps the group on track to meet current market expectations for full-year revenue and underlying EBITDA, which management understands to be £33.2m to £34m and £2.6m respectively.
New NHS patient referrals climbed 24% to 11,275, consultations rose 24% to 29,755, and surgical procedures increased 13% to 4,517 compared with the first half of the prior year.
Annualised revenue per consultant rose 17% to £446,000, even as the consultant pool was rationalised to 82 from 88 in March, a deliberate move the company said was aimed at driving higher productivity; a further 12 consultants remain under review in the talent pipeline to support future growth.
The group operated 14 surgical facilities and 46 outreach clinics at period end, up from 12 and 40 a year earlier.
Activity in the first half outpaced both the prior-year period and the second half of the last financial year, which the company attributed to management's focus on delivering activity earlier in the year to build resilience against potential disruption to NHS commissioning later on.
"Activity was ahead of both the corresponding period last year and the second half of FY26, with growth achieved across all key performance measures," said chief executive Adam Binns, adding that post-operative patient feedback averaged 99% positive during the first six months.
One Health is building its first owned surgical hub in Scunthorpe, North Lincolnshire, funded from existing cash reserves and the £5.6m net proceeds of its March 2025 AIM listing; construction began in March and the shell is now weather-tight, with the facility still on track for a spring 2027 opening.
The company has identified a potential site for a second surgical hub, now subject to more detailed preliminary assessment, alongside continued work on additional sites to support its longer-term expansion.
Read more about One Health
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The national NHS elective waiting list, which stood at 7.1m in March, rose to 7.3m in May and reached approximately 7.4m in August, including around 111,000 pathways with waits exceeding one year.
One Health flagged the planned abolition of NHS England and the transfer of its functions into the Department of Health and Social Care, expected to complete by March 2027 subject to parliamentary approval, saying the associated cuts to administrative and commissioning roles may create short-term disruption to local commissioning; it said its diverse referral routes and established NHS relationships provide stability through the transition.
The board said it continues to expect additional NHS Trust activity in the second half, as trusts historically push to meet year-end waiting-list targets, though it cautioned this activity is neither contracted nor guaranteed.
One Health Group will announce half-year results in late November.