Appointment of Chief Executive Officer

Inspiration Healthcare Group PLC

12 December 2024

 

Inspiration Healthcare Group plc

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

Appointment of Chief Executive Officer

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company pioneering best-in-class, specialist neonatal intensive care medical devices, announces the appointment of Harout Rafi ("Raffi") Stepanian as CEO and a Director of the Company, effective from 8 January 2025.  Roy Davis will then return to the role of Non-Executive Chairman.

Raffi is an experienced and commercially focused healthcare industry professional, with extensive operational experience within fast-growing international medical device companies. His areas of expertise include respiratory, anaesthesia and monitoring and he has a reputation for a hands-on approach to management and delivery of results.  Raffi has held a number of senior management roles over the last 20 years and has significant international experience in the ventilator market.

Most recently Raffi was CEO of Breas Medical, a Swedish based global medical device company designing, manufacturing, and marketing ventilation devices for home and hospital use. During his four-year tenure he was responsible for transformational change improving turnover and profitability while successfully launching new products in the US with experience in navigating the FDA regulatory processes. Prior to this, he held a leadership position at GE Healthcare where he was responsible for setting the product growth strategy, value proposition and marketing activities in the anaesthesia and ventilation segment.

Roy Davis, Executive Chairman of Inspiration Healthcare said: "We are delighted to welcome Raffi on board, and we look forward to him joining the Inspiration team. He has been instrumental in developing industry-leading respiratory solutions in his past roles and has a track record of delivery. Raffi brings significant international commercial expertise including successful US product launches. We believe Raffi has the right skillset to execute on our future plans and deliver long term value to shareholders and I look forward to working with him."

Raffi Stepanian, incoming Chief Executive Officer commented: "I am thrilled to be joining Inspiration Healthcare at a stage in the Group's development where they are turning a corner and now have a clear strategy to return the business to growth. Inspiration has significant potential, with world class design and manufacturing expertise and a broad range of innovative best-in-class medical products. There are also exciting growth opportunities in new markets. I'm looking forward to working with Roy, the Board, and the Inspiration Healthcare team to deliver on the opportunity."  

In accordance with Schedule 2 (g) of the AIM Rules for Companies, Harout Rafi Stepanian (aged 55 years) holds / has held the following directorships/partnerships in the last five years:

Current directorships / partnerships	Previous directorships / partnerships in last 5 years
None	Breas Medical Holdings AB

Harout Rafi Stepanian does not hold any ordinary shares in the capital of the Company.  There are no further disclosures to be made in accordance with AIM Rule 17 or Schedule 2(g) of the AIM Rules for Companies.

For further information, please contact:

Inspiration Healthcare Group plc	Tel: [phone]
Roy Davis, Executive Chair and Interim CEO Alan Olby, Chief Financial Officer
Panmure Liberum (Nominated Adviser & Broker)	Tel: [phone]
Richard Lindley Will King
Walbrook PR Ltd (Media and Investor Relations)	Tel: [phone] or [e-mail]
Anna Dunphy	Mob: [phone]
Louis Ashe-Jepson	Mob: [phone]

About Inspiration Healthcare

Inspiration Healthcare (AIM: IHC) designs, manufactures and markets pioneering medical technology. Based in the UK, the Company specialises in neonatal intensive care medical devices, which are addressing a critical need to help to save the lives and improve the outcomes of patients, starting with the very first breaths of life.

The Company has a broad portfolio of its own products and complementary distributed products, for use in neonatal intensive care designed to support even the most premature babies throughout their hospital stay. Its own branded products range from highly sophisticated capital equipment such as ventilators for life support through to single-use disposables.

 

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