REG - Inspiration Health - AGM Statement

Inspiration HealthcareAnnouncement

27/06/2023 07:15

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RNS Number : 9689D  Inspiration Healthcare Group PLC  27 June 2023

Inspiration Healthcare Group plc

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

 

AGM Statement

 

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology
company pioneering best-in class, specialist neonatal intensive care medical
devices announces that at the Company's Annual General Meeting to be held at
11.30 a.m. today, Chairman Mark Abrahams will make the following statement.

 

"As I announced at the time of our financial results published in early May,
trading in the current financial year has started in line with management's
expectations. The first quarter saw a recovery in gross margins as the sales
mix improved in favour of our higher margin products. This trend has been
maintained into the second quarter and we are pleased to see revenue
expectations for Q2 exceeding those achieved for Q1. The order book remains
healthy and our expectation continues to be that revenues for the financial
year as a whole will be second half weighted.

 

"We also reported that the Group was cash flow positive for Q1 of the current
financial year and this has continued in Q2. With the additional debt
facilities put in place last year which have flexibility around utilisation,
there is significant headroom available.

 

"While uncertainties remain, we continue to be cautiously optimistic that we
will return to our usual growth patterns in the current financial year."

 

 

 Inspiration Healthcare Group plc                                                       Tel: +44 (0)330
                                                        175 0000
 Neil Campbell, Chief Executive Officer

 Alan Olby, Chief Financial Officer

 Liberum (Nominated Adviser & Broker)                                                   Tel: +44 (0)20
                                                        3100 2000
 Phil Walker, Richard Lindley, William Hall, Will King

 Walbrook PR Ltd (Media and Investor Relations)         Tel: +44 (0)20 7933 8780 or inspirationhealthcare@walbrookpr.com
 Anna Dunphy                                            Mob: +44 (0) 7876 741 001
 Stephanie Cuthbert                                     Mob: +44 (0) 7796 794 663
 Louis Ashe-Jepson                                      Mob: +44 (0) 7747 515 393

 

 

About Inspiration Healthcare

Inspiration Healthcare (AIM: IHC) is a global provider of medical technology
for use in neonatal intensive 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 Company has key own brand products that can be used within the first days
of life to help premature and sick babies; helping resuscitation and
stabilisation in the first moments of life through to preventing brain damage
and both invasive and non-invasive respiratory support in terms of capital
equipment and disposable medical devices. Additionally, the Company has its
own range of products for maintaining normothermia pre, during and
post-surgery.

 

Since September 2019, the Company has acquired Vio Holdings a designer,
manufacturer and supplier of single use respiratory products and sterile
medical consumables and S.L.E., a leading designer, manufacturer and global
provider of neonatal ventilation products.  The Group generates approximately
58% of its revenues from export markets and more than half of its revenues
come from its own-branded products.

 

With product availability actively promoted to over 80 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 Group has direct sales teams selling Group 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.

 

The Group operates from various sites in the UK for R&D, Marketing and
operations with manufacturing based in Croydon (south London) and Hailsham
(East Sussex).  The Group's Head Office is located in Crawley, a short
distance from London's Gatwick Airport.

 

Further information on Inspiration Healthcare can be found at
www.inspirationhealthcaregroup.com (http://www.inspirationhealthcaregroup.com)

 

 

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