@UK PLC is pleased to announce that it has been awarded a framework agreement for cloud services via the G-cloud framework. The Company's @UK Care Marketplace is the only marketplace currently available on any framework and the Company has again been placed in all 4 lots of the G-cloud framework with an expanded range of services. @UK is again the only provider of ecommerce on the framework.
In this, its first year providing a Social Care marketplace, the Board expects that the Company's revenues from the first two pilot customers will be approximately £500k in the current year, with £310k paid and £190k remaining to be delivered and billed this year. The Board believes this augurs well for the Company's prospects in the following year, ending 31 December 2013, and future years, from this strand of business alone.
The @UK Care marketplace is in a live pilot at Hertfordshire County Council and a care directory version is being implemented for Peterborough City Council. The Board believes that there are 160 Local Authorities that need to implement a care marketplace as part of the move to individual budgets by April 2013. The potential earnings range from a care directory at £20k to a fully integrated marketplace at £500k,giving a potential market size of approximately £80m.
Ronald Duncan, Executive Chairman of @UK said:
"As the first to market with a fully integrated system that has the security to both store patient records and make card payments we have a significant advantage. Our system is also the only system that is available under a national framework through G-Cloud and we believe that we should achieve a significant percentage of this new market.
"This is an area where the UK leads the world and we have already received overseas interest in this new area with the care of aging populations being a global issue.
"G-Cloud ii confirms that we are still the only ecommerce solution available under framework and we expect more take up as our Government to Citizen G2C reference sites gain popularity."