REG - Inspiration Health - AGM Statement

Inspiration HealthcareAnnouncement

30/06/2022 07:16

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RNS Number : 7249Q  Inspiration Healthcare Group PLC  30 June 2022

Inspiration Healthcare Group plc

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

 

AGM Statement

 

Inspiration Healthcare Group plc (AIM:IHC), the global medical technology
company, provides the following statement from the Chairman, Mr Mark
Abrahams, ahead of its Annual General Meeting (AGM), which is being held at
11.30 a.m. today:

 

"As I announced at the time of our financial results published in early May,
the current financial year started with promise and demand for our products
has continued despite the economic uncertainties which have developed and
continue to unfold in the UK and globally. We recognised that there would be
increased inflationary pressures in all our markets putting additional
pressure on our suppliers and customers and I'm happy to say that our teams
are working hard to overcome these obstacles successfully as they arise. The
current order book is very healthy, although due to ordering patterns we see
revenues this financial year being more significantly second half weighted.

 

Our new manufacturing and technology centre in Croydon is now live as we have
transferred all our sales and marketing, customer service and capital
equipment manufacturing operations to this new state of the art facility.
 Our R&D and Technical Service departments for our Acute Care products
move in early July. Investing in R&D has always been and remains a core
part of our strategy and having a purpose built centre which increases our
production capacity and promotes innovation provides us with a platform for
sustainable growth. Of the legacy offices where SLE was based, approximately
80% have now been successfully sub-let and we expect to conclude subletting
the final building over the summer.

 

Since the financial year end we have continued to leverage the synergies of
our Group distribution network resulting in sizeable new international sales
contracts. We announced on 7 June an order worth £1.3 million for the supply
of SLE ventilators and Viomedex consumables to a company in Iraq and I'm
delighted to announce today that we have also recently signed an order to
supply both ventilators and consumables to a company in Israel for a total of
£650K which constitutes the first order of this magnitude from Israel and we
expect further orders to follow.

Overall, we remain confident for the financial year despite once again trading
within an environment where there is a high level of uncertainty, we will
continue to be agile and flexible in our approach on how we deal with these
issues as they arise and we remain confident of our abilities to withstand
these pressures.  As the year unfolds, we will also begin to see the benefits
from the investment we have made into the Group in terms of improving our
manufacturing capabilities, improving our reporting systems, better product
branding as well as our international marketing and sales efforts and so
believe that we are well placed to overcome this turbulent period and achieve
continued revenue and underlying earnings growth."

 

 

 

 

 

 

Enquiries:

 

 Inspiration Healthcare Group plc                                                                                                                                                       Tel: 0330 175 0000

 Neil Campbell, Chief Executive Officer

 Jon Ballard, Chief Financial Officer
 Nominated Adviser & Broker                                                                                                                                                             Tel: 0207 397 8900

 Cenkos Securities plc

 Mark Connelly

 Stephen Keys

 Katy Birkin

 Dan Hodkinson
 Cadogan                                                                                                                                                                                Tel: 07771 713608
 PR

 Alex Walters

 alex.walters@cadoganpr.com (mailto:alex.walters@cadoganpr.com)

 

About Inspiration Healthcare Group

 

www.inspirationhealthcaregroup.plc.uk
(http://www.inspirationhealthcaregroup.plc.uk)

 

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.

 

The Group currently consists of three companies: Inspiration Healthcare Ltd,
SLE Ltd and Viomedex Ltd and under these brands the Group sells neonatal
intensive care and operating theatre equipment around the work through a
network of distributors into over 75 countries.  Products range from highly
sophisticated capital equipment through to single use disposables all that can
help improve outcomes of extremely sick patients.

 

In the UK and Ireland the Group offers direct sales for most of its products
supported by Technical Service offering on site and return to base repair and
maintenance along with 24/7 emergency hire of equipment and long term lease
arrangements for its own brand products.  The Group also acts as a
distributor for 3(rd) party companies that wish to access the NHS using the
Group's sales and service expertise and knowledge of the NHS.

 

The Group invests in growth through Research and Development holding numerous
patents on its technology and has strong links with academic Key Opinion
Leaders around the world and supports clinical research in the field of
neonatal intensive care.

 

Further information on Inspiration Healthcare Group plc can be seen at
www.inspirationhealthcaregroup.plc.uk
(http://www.inspirationhealthcaregroup.plc.uk)

 

 

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