Trading Update

RNS Number : 0779Q

Inspiration Healthcare Group PLC

16 February 2023

 

Inspiration Healthcare Group plc

("Inspiration Healthcare", the "Company" or the "Group")

Trading Update

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company ,  is pleased to announce that, following the close of the financial year ended 31 January 2023, the Group is expecting to report revenues of approximately £41.2 million representing an increase of 0.4% compared to the prior financial year and in line with market expectations. Adjusted EBITDA ^*  is also expected to be in line with market expectations.

The Company will be  announcing its results for the financial year ended 31 January 2023 on Wednesday 3 May 2023.

Neil Campbell, Chief Executive Officer, commented:

"I am pleased to report that in recent months we have seen increased order inflow and enjoyed a high level of interest in our products which has enabled us to deliver a strong fourth quarter and gives a platform to achieve further growth during FY24.

As has previously been reported, the unprecedented disruptions during last year due to events outside of our control effectively stalled our growth.  It is pleasing to see that despite this, and albeit modestly, compared to the previous year our revenues have increased showing our resilience and also the effectiveness of our business strategy.

Looking forward, we believe we are well placed to return to growth, and we remain confident in the year ahead." 

* Earnings before interest, tax, depreciation, amortisation, share based payments and non-recurring items.

The information contained within this announcement is deemed to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

Inspiration Healthcare Group plc Neil Campbell, Chief Executive Officer	Tel: [phone]
Nominated Adviser & Broker Cenkos Securities plc Stephen Keys Katy Birkin Dan Hodkinson	Tel: [phone]
Cadogan PR  Alex Walters [e-mail]	Tel: [phone]

About Inspiration Healthcare

Inspiration Healthcare (AIM: IHC) is a global provider of medical technology for use in neonatal intensive care & operating theatres. The Company provides high quality innovative products to patients around the world which help to improve patient outcomes and it actively invests in innovative product opportunities and disruptive technologies.

The Company has key own brand products that can be used within the first days of life to help premature and sick babies; helping resuscitation and stabilisation in the first moments of life through to preventing brain damage and both invasive and non-invasive respiratory support in terms of capital equipment and disposable medical devices. Additionally, the Company has its own range of products for maintaining normothermia pre, during and post-surgery.

Since September 2019, the Company has acquired Vio Holdings a designer, manufacturer and supplier of single use respiratory products and sterile medical consumables and S.L.E., a leading designer, manufacturer and global provider of neonatal ventilation products.  The Group generates approximately 58% of its revenues from export markets and more than half of its revenues come from its own-branded products. 

With product availability actively promoted to over 80 countries through a distribution network, Inspiration Healthcare's success has been built on continuous innovation, excellent customer service and an inherent commitment to improving patient outcomes, working in close collaboration with key opinion leaders across the globe.

In the UK and Ireland, the Group has direct sales teams selling Group Branded and complementary products from third parties, with an additional range of home healthcare products.  This is supported by Technical Support for planned preventative maintenance and emergency assistance.

The Group operates from various sites in the UK for R&D, Marketing and operations with manufacturing based in Croydon (south London) and Hailsham (East Sussex).  The Group's Head Office is located in Crawley, a short distance from London's Gatwick Airport.

Further information on Inspiration Healthcare can be found at www.inspirationhealthcaregroup.plc.uk

 

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