Private oncology provider Rutherford Health has stated it expects to raise funding by the end of March, either through a debt refinancing, sale and leaseback agreements or an equity raising, StockMarketWire has reported.

Rutherford Health said: “The company is continuing to explore potential sources of funding to support the company’s rapid growth and expects that it will need to do so in the first quarter.”

The company added that it has been awarded contracts by the National Health Service and expects to achieve a “significant” increase in revenue and patient numbers over the coming months.

In addition, Rutherford Health has entered into a framework agreement with NHS England, which may lead to contracts to provide cancer treatment and diagnostic imaging services for NHS patients.

The company stated: “Whilst revenue from the NHS England framework is not guaranteed, the company expects that NHS-related activity in diagnostics, imaging, chemotherapy and radiotherapy will underpin much of the group’s fixed operational centre costs in the year ending February 2022. The NHS England framework started in January 2021, with the first patients already booked for treatment in the group’s North East, Thames Valley and North West facilities.”

Date published: January 20, 2021

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