Trading Update

RNS Number : 5308D

Inspiration Healthcare Group PLC

20 February 2020

 

20 February 2020

Inspiration Healthcare Group plc

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

Inspiration Healthcare

Trading Update

Record revenues and EBITDA growth over 20%

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company, is pleased to announce a trading update for the year ended 31 January 2020. The Company has performed ahead of expectations and anticipates reporting a 15% increase in Group revenue over the prior financial year to approximately £17.8m, including revenue from the recently acquired Viomedex business, or growth of 12% on a like for like basis.  EBITDA¹ is expected to be between the range of £2.0 to £2.1m, representing growth of more than 20% over the previous financial year.

The Company is pleased to report that Viomedex performed in line with expectations during the four months since acquisition and contributed to overall growth of the Group. 

Neil Campbell, CEO commented "We are delighted with the results achieved this year, we had targeted double digit revenue growth and delivered it notwithstanding difficult macro-economic conditions such as Brexit. The acquisition has contributed positively and we look forward to greater contributions.  This gives the Group a strong platform for continued double digit revenue growth as the Company plans for further business development."

1 Earnings before interest, tax, depreciation, amortisation, share based payments and exceptional items, before an increase arising from the application of IFRS16.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

Inspiration Healthcare Group plc Neil Campbell, Chief Executive Officer Mike Briant, Chief Financial Officer	Tel: [phone]
Nominated Adviser & Broker Cenkos Securities plc Stephen Keys Mark Connelly Cameron MacRitchie	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 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 6 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 its own range of products for maintaining normothermia pre- during and post-surgery.

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 UK and Ireland the Company has a direct sales team selling Inspiration 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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