Who Owns Totally Company?

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Who Owns Totally plc?

Totally plc, a UK healthcare services provider, entered administration in June 2025. Its trading subsidiaries were subsequently sold to PHL Group Ltd., marking a significant shift in ownership. The company, founded in 1999, aimed to improve patient access to healthcare.

This acquisition by PHL Group fundamentally altered the corporate structure of the former Totally plc. Understanding this transition is key to grasping the future direction of the acquired healthcare services.

Who owns Totally plc now? PHL Group Ltd. is the new owner of Totally plc's trading subsidiaries following its administration.

Founded on October 28, 1999, Totally plc operated with a mission to enhance patient access to healthcare. The company focused on delivering urgent care, elective care, and specialist healthcare solutions. For the fiscal year ending March 31, 2024, the company reported revenue of £106.7 million, a decrease of 21% from the prior year. A deeper dive into the external factors influencing such companies can be found in a Totally PESTEL Analysis.

Totally plc was incorporated on October 28, 1999, with its registered office initially in Leeds, West Yorkshire. While specific details on the exact equity split among the original founders are not publicly detailed, the company's inception was driven by a vision to meet the growing demand for healthcare services across the UK and Ireland. Early directors included Robert Gordon Neil Stewart Forsyth and Laurence James Goldberg.

Company Incorporation

Totally plc officially began its journey on October 28, 1999. Its initial administrative base was established in Leeds, West Yorkshire.

Founding Vision

The company was founded with the objective of addressing the increasing need for healthcare services within the United Kingdom and Ireland. This formed the core of its early business strategy.

Early Leadership

Key individuals involved in the company's early stages included Robert Gordon Neil Stewart Forsyth and Laurence James Goldberg, who served as early directors.

Public Listing

As a public limited company, its shares were listed on the AIM market of the London Stock Exchange. The share price commenced trading at 9,015p in the year 2000.

Initial Ownership Structure

In its nascent stages, ownership typically comprised the founders, alongside potential early angel investors or personal networks. This is a common pattern for new ventures.

Ownership Evolution

As the company expanded and moved towards its public offering, its ownership base naturally diversified. This transition moved beyond the initial founding group to a wider array of investors.

Publicly accessible information tends to focus on significant shareholders post-listing, rather than the detailed founding agreements or initial ownership arrangements. The evolution of Totally Company ownership reflects its growth from a startup to a publicly traded entity. Understanding the Mission, Vision & Core Values of Totally provides context for its foundational goals.

Key Aspects of Early Ownership

The initial ownership of Totally plc was shaped by its founders and early supporters. As the company grew, its investor base expanded significantly.

• Founders and early investors formed the initial ownership group.
• The company was established to address healthcare service demands.
• Public trading began on the AIM market of the London Stock Exchange.
• Ownership structure diversified as the company matured.

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The ownership landscape of the company underwent significant shifts, particularly leading up to its administration in June 2025. Initially a publicly traded entity on the AIM market, its shares were distributed among various institutional and individual investors, reflecting a dynamic market presence.

The company's journey took a pivotal turn in June 2025 when it entered administration. This event led to the sale of its core operational subsidiaries, including urgent care, elective care, and corporate wellbeing services, to PHL Group Ltd. PHL Group, supported by Ethos Partners LLP, now holds the operational control and strategic direction of these formerly company businesses. As a consequence of these developments, the ordinary shareholders of the parent company are not anticipated to receive any return on their investments, signifying a complete restructuring of the ownership and operational control.

Key Ownership Changes

Significant changes in major shareholdings occurred prior to the company's administration. These adjustments reflect evolving investment strategies among key stakeholders.

• Stonehage Fleming Investment Management Limited completely divested its voting rights.
• Canaccord Genuity Group Inc. saw a reduction in its voting rights.
• David and Monique Newlands increased their total voting rights through direct and indirect holdings.
• The company's operational assets were acquired by PHL Group Ltd. in June 2025.
• Ordinary shareholders are not expected to receive any return following the administration.

The administration in June 2025 marked a definitive end to the company's public trading and its previous ownership structure. The acquisition by PHL Group Ltd., backed by Ethos Partners LLP, effectively transferred the primary business activities to new private ownership. This transition means that the legal owner of the company's operational entities is now PHL Group. Understanding these shifts is crucial for anyone interested in the Revenue Streams & Business Model of Totally, as the new ownership will dictate future strategic decisions and operational focus.

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Following the administration of its parent company in June 2025, the board of directors of Totally plc, which previously included Simon Stilwell as Non-Executive Chairman and Professor Prasad Godbole as interim Chief Executive Officer, ceased to exist. The governance of the former Totally plc subsidiaries now rests with PHL Group.

Prior to the administration, the company operated under a one-share-one-vote structure for its ordinary shares. This meant that voting power was directly proportional to the number of shares held by each stakeholder. The previous board composition reflected a mix of executive and non-executive directors, aiming for a balance between operational insight and independent oversight. Key appointments in the period leading up to the administration included Robert Harris as a Non-Executive Director in February 2025 and Bob Forsyth as a Non-Executive Director in July 2024, with both taking on committee chair roles.

Board Evolution and Ownership Shift

The board structure of Totally plc underwent changes in the months preceding its parent company's administration. These changes included the appointment of new non-executive directors and the departure of others.

• Robert Harris joined as Non-Executive Director and Chair of the Remuneration Committee on February 9, 2025.
• Bob Forsyth was appointed Non-Executive Director and Chair of the Audit Committee on July 25, 2024.
• The entire board resigned in June 2025 upon the parent company's entry into administration.
• PHL Group now oversees the governance of the acquired subsidiaries.
• Understanding these shifts is crucial for grasping the Growth Strategy of Totally prior to its acquisition.

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The ownership landscape of the company has undergone a significant transformation in the past 12 to 18 months due to substantial financial challenges. These shifts have led to a change in who owns Totally Company, moving from its previous public trading status to a new private ownership structure.

The company experienced considerable financial difficulties, including a pre-tax loss of £3.9 million for the year ending March 31, 2024, a stark contrast to the £1.8 million profit in the preceding year. Revenue also saw a decline of 21% to £106.7 million. Further financial strain was anticipated with projected revenues for the year ending March 31, 2025, estimated to fall to £85 million. These pressures were compounded by the loss of a £13 million NHS 111 support contract in February 2025 and a potential medical negligence claim from 2018 that could exceed its £10 million insurance coverage.

Strategic Review and Administration

In response to these financial headwinds, the company initiated a strategic review. This process aimed to identify solvent solutions but ultimately did not attract any bids for the parent company. Consequently, the company announced its intention to appoint administrators in June 2025.

Share Suspension and Cancellation

As a direct result of the administration process, the company's ordinary shares were suspended from trading on the Alternative Investment Market (AIM) on June 6, 2025. Subsequently, these shares were cancelled on July 7, 2025, marking the end of its public trading status.

Acquisition of Trading Subsidiaries

The critical development was the sale of the company's trading subsidiaries, encompassing its urgent care, elective care, and corporate wellbeing divisions. These were acquired by PHL Group Ltd. in June 2025, a transaction supported by Ethos Partners LLP.

Job Security and Service Continuity

This acquisition ensured the continuity of vital NHS services previously provided by the company and secured over 600 jobs. This trend highlights a broader industry pattern of consolidation, where financially challenged healthcare service providers are acquired by more robust entities, often backed by private equity, to maintain operational stability and service delivery. Understanding the Target Market of Totally provides context for these operational shifts.

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