Ventilator deliveries total £7 million

RNS Number : 0823Z

Inspiration Healthcare Group PLC

16 September 2020

 

Inspiration Healthcare Group plc

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

Ventilator deliveries total £7 million

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company  is pleased to provide a final update on the status of ventilator deliveries to the UK National Health Service ("NHS") following the most recent announcement made on 20^th August 2020. In the past few weeks, further deliveries have been made with a value of £2 million taking the total value of all orders delivered to approximately £5 million. This does not include the value of a ventilator support contract order awarded to Inspiration Healthcare which was announced on the 1^st May 2020 and other smaller ancillary orders which were also received in the period since mid-March. No further ventilators for Covid-19 deliveries to the NHS are now expected under the orders previously announced.

In addition, S.L.E. Ltd, a wholly owned subsidiary of Inspiration Healthcare acquired in July 2020, recently completed orders of ventilators for Covid-19 for the NHS worth a total value of £2.1 million. As a result, the Group has now delivered a total of approximately £7 million of ventilators to the NHS directly in response to Covid-19.

Neil Campbell, Chief Executive Officer, commented , "We are delighted to have been able to complete these final deliveries to the NHS and have worked hard with all our partners in the UK and internationally to achieve this. It clearly demonstrates the strength and resources of our teams and their commitment to meet the needs of our customers and patients. The additional revenues from these orders positions the Company very well to achieve a strong performance this financial year."   

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 Cameron MacRitchie	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 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.

In September 2019, the Company acquired   Vio Holdings a designer, manufacturer and supplier of single use respiratory products and sterile medical consumables   for £4 million and in   June 2020 the Company acquired S.L.E., a   leading global provider of neonatal ventilation products for   £18 million.       Over 90 per cent. of S.L.E.'s revenues are generated from sales outside of the UK with a significant proportion of these in 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 UK 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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