Healthcare without boundaries

Transcription

1 Healthcare without boundaries Sean Riddell Chief Executive Phillip Woodrow Finance Director Emis Group plc 2012 H1 Results Presentation

2 AGENDA Results Overview Sean Riddell Financial Review Phillip Woodrow Operational Review Sean Riddell Summary and Outlook Sean Riddell

3 RESULTS OVERVIEW Sean Riddell Chief Executive

4 Operational Highlights UK GP software market leading position maintained: UK market share 52.2% Awarded one of only two framework agreements for supply of managed GP service solution in Wales EMIS Web GP accelerating roll-out continues - by the period end: 747 GP practices installed 1,385 unfulfilled orders 2,753 practices in EMIS Web GP familiarisation service RX Systems: High street pharmacy market share increased to 36.0% Transformation of healthcare delivery in the UK opening up new markets: EMIS Web Integrated Care in 68 clinical specialities with over 5,300 seats 4

5 FINANCIAL REVIEW Phillip Woodrow Finance Director 5

6 Financial Highlights H H Increase Revenue 42.3m 35.5m 19% Recurring revenue 34.4m 29.9m 15% Operating profit Reported 12.1m 10.2m 19% Adjusted 11.5m 10.0m 15% Cash generated from continuing operations: Net of all development costs 21.7m 19.5m 2.2m Net cash 17.7m 12.8m 4.9m EPS from continuing operations 16.32p 13.10p 25% Interim Dividend 7.1p 6.2p 15% 6

7 Profit and Loss m Continuing operations H H % Change Revenue increased by 19.2% Revenue % Profit before tax % Tax (2.3) (2.4) - Profit after tax % Operating profit/pbt up 18.6% Tax charge again low DT 2% reduction on all intangibles EPS up 24.6% EPS from continuing operations 16.32p 13.10p 24.6% 7

8 Segmental Analysis m H H EMIS RX Total EMIS RX Total % increase Revenue including: Recurring revenue Segmental operating profit : add back amortisation Recurring revenue EMIS up 3.7m (+15.1%) RX up 0.8m (+14.8%) Adjusted operating profit - deduct capitalised development costs (2.2) - (2.2) (1.7) - (1.7) EMIS up 0.7m (+7.5%) Adjusted segmental operating profit RX up 0.6m (+55%) Less Group costs (0.2) (0.4) Adjusted Group operating profit

9 Core Business Analysis m H % of sales H % of sales H % of sales FY 2011 % of sales Licenses and software support % % % % Other support services % % % % Hosting* 3.9 9% 2.8 8% 3.0 8% 5.8 8% Hardware and training % % % % Other 3.7 9% 1.5 4% 2.0 5% 3.5 5% Total % % % % Recurring % % % % Non-recurring % % % % Total % % % % *Hosting includes EMIS Web recurring revenue Hosting and EMIS Web recurring income 3.9m (H1 2011: 2.8m) Other revenue includes: Defence, International and EMIS IQ 9

10 Cash Flow m Cash from continuing operations: H H Generated Less internal development costs capitalised (2.2) (1.7) Adjusted cash from operations Used for/other movements: Discontinued operation - (0.6) RX Systems deferred consideration (0.7) - Net CapEx (5.9) (2.1) Repayment of bank term loans (0.6) (0.6) Transactions in own shares Adjusted cash from operations up 2.2m CapEx includes: Hosting assets of 2.6m Ongoing refurbishment of new HQ 0.7m Positive cash movement of 9.1m Bank and other interest - (0.1) Taxation (1.9) (2.3) Dividends (3.6) (3.3) (12.6) (9.0) Cash increase in period

11 Balance Sheet m 30 June June Dec 2011 Fixed assets Cash Other current assets Total assets Current liabilities (16.6) (12.7) (10.5) Deferred income (22.0) (19.7) (16.1) Bank term loans (4.0) (5.2) (4.5) RX deferred - (0.7) (0.8) consideration Deferred tax (7.5) (7.8) (8.1) Movements YOY: Cash increase of 3.7m RX deferred consideration paid in full Deferred income continues at high level Bank term loans reduced to 4.0m Deferred tax on intangibles of 7.5m No cash implications Net assets

12 OPERATIONAL REVIEW Sean Riddell Chief Executive 12

13 Operational Review EMIS Web GP GPSoC Renewal - negotiations commenced Continued accelerating EMIS Web roll-out to GPs: 747 GP practices using EMIS Web by the period end (31 December 2011: 360) Familiarisation Service in 2,753 practices (31 December 2011: 2,359) 1,385 unfulfilled orders by period end (31 December 2011: 1,205) As at 30 August 2012: GP Practices using EMIS Web 958 Familiarisation Service 2,835 Unfulfilled orders 1,326 Investment for accelerating roll-out continuing into H2 2012: Period end employee number 1,117 (31 December 2011: 898) New property refurbishment completed since period end Delivery capability capacity to install circa 200 EMIS Web practices per month by September 2012 EMIS Data Centres - expansion on track 13

14 Operational Review EMIS Web Integrated Care By H1 2012: 172 other healthcare services starting to use EMIS Web for the delivery of integrated care Outside of Hospitals Services Primary & Community Secondary Care Services Liverpool PCT July 2012 Ankle-Brachial 29 pressure index Anticoagulation 2 Asylum 1 seekers Children s 1 walk-in centre Community 54 matrons Community 24 respiratory team Diabetes 24 specialist nurses Emergency 3 response team Gynaecology 30 H.Pylori breath 21 test Hepatitis C 1 Intermediate 3 care units IV therapy 1 Mersey care 1 crisis resolution care LCH team skin team 19 Children s 235 services District nursing 285 HIV service 3 Dermatology 13 ICATS Minor surgery 73 UC24 1 Community 33 health Safeguarding 4 adults Treatment 1 rooms Weight 31 management service Homeopathy 3 General practices LV PCS RLBUH Renal Emergency Department Royal Liverpool Emergency Department Alder Hey Emergency Department Aintree RLBUH Renal RLBUHT Eye Screening and Opthalmology RLBUHT Anti Coagulation EMIS Web 7 Other 6 Heart failure pathway Acute Medical Unit Liverpool heart and chest hospital PCI/CCU RLBUHT Diabetes RLBUH heart failure AHT heart failure Emergency Department Southport and Ormskirk Key Live Coming soon No. of users No. of practices 68 unique integrated care services are already live with EMIS Web Acquired brain injury, Anticoagulation, Asylum seekers, Child services, Clinical assessment service, Clinical effectiveness group, Community hospital, Community matrons, Continence service, Contraceptive service, COPD inc rehabilitation, Crisis resolution team, Cystic fibrosis, Dermatology, Diabetes, Diabetic retinopathy, Dieticians, District nurse service, Emergency department, A&E and UCC, Flu pandemic service, General paediatrics, Gynaecology service, H1N1 influenza at risk data collection, Health IV therapy service, Health treatment rooms service, Heart and chest hospital, Heart failure service, H-Pylori breath test, Joint injections, Learning disabilities, Long term conditions, MacMillan Nurses, Medicine management, Minor surgery, Musculoskeletal ultrasound, Nursing home, Occupational therapy service, Older people and rehab service, Ophthalmology, Out of hours, Palliative care, Physiotherapy service, Podiatry, Polyclinics, Primary care access service, Primary care psychology, Public health, Renal department, Respiratory services, Smoking cessation, Speech and language therapy, Short term interventions, Ultrasound, Urology, Vasectomy, Walk-in centre, Weight management service. 14

15 Integrated Care EcoSystem Development Road Map API Spine Rio Cerner Mobile OOH Electronic Health Care Records 15

16 EMIS Mobile for the healthcare worker on the move Functionality Online and offline access to patient records: summary, consultations, care episodes, medication, values, problems and more Map view: enables visit planning User Tasks: ensures continuity of care Technology Developed in HTML5 Multiplatform support (ipad, Android Tablets, Blackberry, Windows 8) One development, multiple platforms supported Ability to remote wipe Secure, encrypted data storage Synchronisation over WiFi and 3G 16

17 Operational Review RX Systems, Healthcare Gateway, EMIS IQ RX Systems Market share grown to over 36% (4,541 pharmacies) (31 December 2011: 34.4% (4,338 pharmacies)) EPOS installed at 594 pharmacies by 31 July 2012 Recurring revenue 6.2m (2011 H1: 5.4m) Healthcare Gateway Chosen to provide electronic discharges across nine Trusts by Informatics Merseyside Delivering 80% of patient records to NHS Cumbria Pilots in Walsall and North West London and plans for A&E in University Hospitals Morecambe Bay EMIS IQ Designing/building GP Extraction Service - goes live on 1 April 2013 starting with GP QoF reporting Delivering data extraction services across England and Scotland for: Risk Stratification, Flu Surveillance, Patient Cohort Tracking, Immunisation and Vaccine Reporting 17

18 Operational Review Patient.co.uk Version 2.0 launched August million unique visitors in May million mobile unique visitors in July 2012 Apps now available for IOS, Windows 7 and Android: 181,000 downloads to July 2012 Key enabler for EMIS Web Integrated Care - the first step to help patients play a part in their own care Fits English NHS Information Strategy: using online services to simplify routine aspects of care 18

19 Health & Social Care Act EMIS closely aligned Case for change: Rising demand and cost Need to improve quality Public finance constraints Key legislative changes: Clinicians in charge of shaping services CCGs directly commissioning services Any qualified provider (NHS, private or charity) NHS trusts free to innovate Greater voice for patients Remove unnecessary management tiers NHS Commissioning Board 80 billion Commission budget split 20 billion centrally commissioned 60 billion CCGs 212 CCGs proposed for authorisation by 1 April

20 The NHS Information Strategy EMIS closely aligned The next 10 year IT strategy document highlighted the solid foundations we have to build upon providing one of the most successfully and universally computerised primary care systems in the world and national information flows that are the envy of many developed countries. Information must drive integrated care across entire health & social care sector Access to GP records by 2015 Booking of GP appointments Interoperability essential Widespread use of modern technology required The Centre getting out of the way 20

21 Summary and Outlook Summary Strong performance: UK GP software market leading position maintained RX Systems market share increased New market initiatives progressing well EMIS Web - investment in delivery capability Fits New Information Strategy and Health and Social Care Act Outlook Strong and growing revenue visibility Remain confident in full year outlook EMIS Web GP roll out acceleration continues Ongoing development of EMIS Web Integrated Care for wider NHS Finally Retirement of CFO 21

22 APPENDIX Updated Images 22

23 APPENDIX Adult & Children's Nursing Services Allied Health Professionals Adult & Children's Nursing Services Allied Health Professionals Community matrons 21 MCATs 10 Community Matrons 15 Musculoskeletal 59 District nursing 284 Adult speech and language therapy 20 District Nursing 152 Speech & Language Therapy 50 Central booking 21 Adult physiotherapy 53 Specialist Nursing 28 Rehab Therapy 15 Integrated respiratory 18 Podiatry 42 Acquired Brain Injury 6 Podiatry 23 Home IV therapy service 3 Therapies pod 13 Health Visitors 77 Chronic pain management 6 Outpatient clerks 30 School Health 32 Community heart failure 2 Child speech and language therapy 66 Diabetes specialist nurse 14 Dietetic service 41 Continence advisory service 16 Lymphadema service 3 Trust MIS System Cheshire Health Record (Read Only) Epilepsy nursing service Parkinson s service SPR June Key Live In progress Coming soon No. of users No. of practices GP Practices C&E Cheshire PCT LV PCS EMIS Web Other LV PCS GP Practices NHS Western Cheshire EMIS Web Other ECNT (A&E, EAU, Pharmacy) CWP (Pharmacy) MCHT (Pharmacy, Emergency Care) Countess of Chester (A&E, Pharmacy) PCTs (Out of Hours and CCG Reporting)

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25 APPENDIX GP Market Share by Country Country EMIS estate EMIS % InPS estate InPS % isoft estate isoft % TPP estate TPP % Other Other % England Northern Ireland Scotland Wales UK TOTAL (EMIS and competitor data estimated based on company records showing customers installed and ordered (by contract or letter of intent) as at 30 th June 2012) 25

26 APPENDIX Peter Southby Peter Southby has, since 2010, been CFO at ENER-G plc, a privately owned business operating in renewable and efficient energy, and advised the board on strategic direction following an intensive period of corporate development. Prior to ENER-G, Peter spent four years as CFO at Augean plc an AIM company specialising in hazardous waste management and advised in particular on group reorganisation, strategy and a number of corporate transactions including fundraising and acquisitions. Before Augean, Peter was Group Financial Controller at White Young Green plc from 2003 to 2006, Finance Manager at Leeds United plc from 2000 to 2002 and started his career with Arthur Andersen in 1993 whilst studying at Oxford University, where he obtained a first class degree. Peter has been an ACA since 1998; he is 38 and lives in West Yorkshire. 26

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