Quantum Pharma announces major Biodose® Services contract
Quantum Pharma Plc (AIM: QP.), the growing service-led niche pharmaceutical manufacturer, developer and supplier to the health and care sectors, is pleased to announce the first large-scale NHS homecare contract win for its Biodose Services division. Following a competitive tender process, Biodose Services have been awarded an 18 month contract with Yorkshire and Humber NHS Pharmaceutical Purchasing Consortium ("YHPPC"), with an option to extend for a further two years by mutual consent.
Biodose Services provides pre-prepared medication regimes to care homes and delivery of medication to the home. This contract is to supply nearly 3,000 patients with medicines including antiretrovirals, anti-tuberculosis medication, medicines for cystic fibrosis, and oral chemotherapy medication, which will require 9,500 deliveries to individuals per annum. Biodose Services' expects to commence delivery in Q4 of 2015, and will reach full capacity within six months.
This contract marks a continuation of the progress seen by Biodose Services in the last year, following a contract agreed in June 2015 with The Newcastle upon Tyne Hospitals NHS Foundation Trust to supply arthritis medication to a number of patients, as well as operating the Stork Facility Service, providing homecare services to 1,200 patients (both private and NHS) per month.
The Group expects this contract to significantly increase turnover within the Biodose Services division, and make a modest contribution to group profitability, for the financial year ending 31 January 2017.
Andrew Scaife, Chief Executive Officer of Quantum Pharma Plc, said: "This contract shows the strength of the Biodose Services offering, which along with our Biodose® devices, aims to not only reduce the burden placed on the NHS by medication non-compliance, but also, allow patients to remain within a familiar environment, rather than spending unnecessary time in hospital. This contract provides an excellent platform to drive further penetration of Biodose®, and in-time Biodose Connect® (our telehealth product), as well as to identify further niche medicines to add to our growing development pipeline. I am pleased by the progress shown by Biodose Services within the last year and look forward to working with the Yorkshire and Humber NHS Pharmaceutical Purchasing Consortium to explore further opportunities across our business units."
Posted by: Quantum Webmaster on 21st September 2015