Shares in fryer management services group Filta (FLTA:AIM) shot 22% higher to 110p on Friday after the company announced an exclusive licensing agreement with NHS-owned NTH Solutions to utilise its disinfectant product hypochlorous acid (HOCI).
The product, produced onsite by NTH is able to quickly disinfect surfaces including those with Covid-19 without the need for staff to evacuate a room or extensive use of personal protective equipment because it is non-corrosive and not harmful to humans.
NHS, NTH, FILTA BRANDED
The agreement started on 1 September and involves Filta staff being fully trained by NHS decontamination experts. Filta will then have exclusive rights to both sell the products and provide training for customers in NHS best practices for proper use of disinfectants.
The plan is for Filta’s staff to conduct the initial clean at sites and then ensure the sites are properly trained and certified to continue the cleaning regime. Effectively Filta will be considered an exclusive partner to the NHS’ owned subsidiary NTH and will be able to display the NHS logo where appropriate.
Filta customers who take this service will be registered within an online database of certified sites and be permitted to display NHS, NTH and Filta branding subject to three-monthly inspections and swab testing at sites.
The rights run for six months initially with an option to extend for a further six months subject to satisfactory performance. NTH is wholly-owned by North Tees and Hartlepool NHS Trust.
CEO Jason Sayers commented, ‘this partnership with NTH Solutions will further enhance our capabilities and sits with our overall group strategy to expand our core service offering and increase the opportunity to cross-sell our portfolio of solutions to current and future customers.’
The company said it is too early to draw any conclusions on the financial impact at the current juncture, but clearly the market has taken the view that the agreement could lead to similar contracts with other NHS trusts. There are over 200 trusts across England employing around 800,000 people.
If the initial agreement leads to higher standards and practices in the fight against the spread of viruses , there is potential to exploit the market opportunity through additional licences and co-branding.