LONDON: Optima Health Plc (AIM: OPT), a leading UK provider of technology-enabled corporate health and wellbeing solutions, reported strong preliminary unaudited results for the fiscal year ended March 31, 2025, highlighting strategic progress, international expansion, and a robust financial position.
The company posted group revenue of £105 million, compared to £110.9 million in FY24, reflecting underlying growth when adjusted for the loss of a major client and reduced scope of another prior to its AIM listing. Adjusted EBITDA stood at £17.6 million, closely aligned with the previous year’s £18 million.
Optima recorded a statutory operating profit of £3.2 million, reversing a £0.7 million loss in FY24. This includes £2.8 million in one-off costs related to its demerger and AIM listing. Net debt (excluding leases) was significantly reduced to £2.2 million from £34 million a year earlier.
“We have made significant strides, growing our presence in our core UK market, expanding into the Republic of Ireland through our first international acquisition, and strengthening our platform for long-term, sustainable growth,” said CEO Jonathan Thomas.
Strategic Milestones
- Optima expanded into the Republic of Ireland with the acquisition of Cognate Health, marking its first international move.
- The company secured a £210 million contract to deliver medical assessment services to the UK Armed Forces, with service revenues expected to begin in 18 months.
- It also signed its first license agreement for its proprietary Digital Assessment Routing Tool (DART) with Mersey & West Lancashire Teaching Hospitals NHS Trust, followed by four additional NHS trusts under the GIRFT initiative.
Acquisition Strategy
Since its AIM listing, Optima has completed three acquisitions—BHSF Occupational Health, Cognate Health, and Care first—all expected to be EBITDA accretive within their first full year. These deals enhance Optima’s clinical scale, customer reach, and digital capabilities.
New business wins totaled £27.2 million in FY25, up from £7.3 million in FY24. However, excluding the Armed Forces contract, new business conversion slowed in the second half of the year. The company is implementing measures to accelerate growth and mitigate cost pressures from national insurance increases and Real Living Wage inflation.
Outlook
Despite macroeconomic headwinds, the board remains confident in Optima’s medium-term outlook, citing favorable demand for integrated digital health solutions and a strong pipeline of opportunities.
“We remain well positioned to deliver growth in FY26,” Thomas said. “Alongside continued organic expansion, we will continue our disciplined approach to M&A. Our people, platform, and market opportunity will enable us to further consolidate our leadership position.”