13 July 2020

Rutherford Health plc

2020 Annual Report and Accounts

Rutherford Health PLC ("Rutherford Health", the "Company", or the "Group"), the holding company of a group committed to providing innovative cancer care of the highest quality, is pleased to announce today its annual results for the period ended 29 February, 2020.

A copy of the Annual Report and Accounts will be sent to shareholders shortly and will be available on the Company's website at www.rutherfordhealth.com/investors/reports-presentations.

The Group's oncology centres in the UK - named the Rutherford Cancer Centres - offer a comprehensive range of cancer treatments to patients including proton beam therapy, radiotherapy, chemotherapy, imaging and ancillary wellbeing services.

Financial highlights:

  • Revenue of GBP5.6m with quarter on quarter growth
  • Investment in fixed asset additions: GBP19.6m
  • Investment resulting in in gross fixed assets: GBP160.8m
  • Equity inflow: GBP70.0m
  • New GBP20.0m debt facility from TP Leasing Limited, GBP10m of which had been drawn at year end

Operational highlights

  • First NHS Wales patient receives proton beam therapy at the South Wales centre
  • Three cancer centres operational including proton beam therapy
  • South Wales centre awarded the Macmillan Quality Environment Mark (MQEM) for its excellence in patient care
  • Partnership with the University of Pennsylvania and IBA to train NHS oncologists to meet rising demand for proton beam therapy

Rupert Lowe, chairman of Rutherford Health PLC, commented: "COVID-19 should provide a catalyst for change, putting ideology to the side and utilising all available treatment centres, whether they be NHS or private, to reduce the number of cancer deaths expected due to delayed diagnosis. Having been treated with PBT in USA myself, I am delighted at the quality of the service that we provide here in the UK, it compares favourably with the more experienced USA centres. The increased demand for PBT in the UK is encouraging for the Group, as is the range of cancers now being treated at the Rutherford".

Mike Moran, chief executive officer of Rutherford Health PLC, commented: "The Company has made significant progress with three Rutherford Cancer Centres now fully operational, delivering; diagnostics and a range of cancer treatments, including proton beam therapy. Our fourth centre, in Liverpool, is undergoing its final commissioning stages prior to clinical operations in July. We continue to provide a high-quality service offering to our patients which is evidenced by the testimonials received and the quarter on quarter growth reflected in the annual accounts. COVID-19 didn't prevent the impressive performance of the business with all services remaining fully operational, zero staff furloughed, and patients being treated in COVID-19 free centres throughout lockdown".

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

The directors of the Company accept responsibility for the content of this announcement.

VIEW ANNOUNCEMENT ON NEX