Revenue and Profit Upgrade

RNS Number : 6776M

Inspiration Healthcare Group PLC

25 January 2021

 

Inspiration Healthcare Group plc

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

Revenue and Profit Upgrade

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company, is pleased to announce that it has continued to experience strong momentum since publishing its half year results in October 2020, that Group revenues and EBITDA for the financial year ending 31 January 2021 will exceed current market expectations and that the Group expects to report turnover of not less than £36.5 million and EBITDA¹ of not less than £4.9 million.

The key driver for this increase in revenues and profits has been the strong performance achieved by S.L.E. Limited, the leading designer and manufacturer of ventilators for neonatal intensive care which was acquired by Inspiration Healthcare in July 2020 and which has seen sales increase steadily during the period of its integration into the Group.  Additionally, operational efficiencies already identified through the integration process have started to be achieved.

Neil Campbell, Chief Executive Officer, commented: "I am delighted to announce this increase in revenues and profits, which has been achieved in a very tough environment and so clearly demonstrates the quality of our products and services as well as the level of commitment that all our teams have dedicated to driving forward the growth of the Company this year. We remain very well placed for the future with a strong balance sheet and many opportunities for continued growth and we look forward with confidence."

1 Earnings before interest, tax, depreciation, amortisation, share based payments and exceptional items.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. 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 Jon Ballard, Chief Financial Officer	Tel: [phone]
Nominated Adviser & Broker Cenkos Securities plc Mark Connelly Stephen Keys	Tel: [phone]
Cadogan PR  Alex Walters [e-mail]	Tel: [phone]

About Inspiration Healthcare   http://www.inspiration-healthcare.com

Inspiration Healthcare (AIM: IHC) is a global provider of medical technology for use in critical 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.

Through investment in research and development the Company has six key own-brand products that can be used within the first 6 hours of life to help premature and sick babies; helping with assessment, resuscitation, stabilisation as well as preventing brain damage. Additionally, the Company has a range of products for maintaining normothermia pre- during and post-surgery.

In September 2019, the Company acquired   Vio Holdings a designer, manufacturer and supplier of single-use respiratory products and sterile medical consumables   for £3.7 million and in   June 2020 the Company acquired SLE, a   leading global provider of neonatal ventilation products for   £18 million.       Over 90% of SLE's revenues are generated from sales outside of the UK with a significant proportion of these in the Asia Pacific and the Middle East. When combined, the Group generates approximately 60 per cent. of its revenue from exports.

With product availability extending to over 50 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 U.K. and Ireland, the Company has a direct sales team selling Inspiration Healthcare 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.

Further information on Inspiration Healthcare can be seen at   www.inspiration-healthcare.com

 

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