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.
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
