Inspiration Healthcare Group PLC Office Changes and Outsourcing of Warming Products (8847M)
October 19 2016 - 4:00AM
UK Regulatory
TIDMIHC
RNS Number : 8847M
Inspiration Healthcare Group PLC
19 October 2016
Inspiration Healthcare Group plc
("Inspiration Healthcare" or the "Company")
Change of Corporate Office and Outsourcing of Warming Products
Manufacturing
Inspiration Healthcare Group Plc (AIM: IHC) today announces the
conclusion of a strategic review undertaken by the Board in
relation to its operations following the reverse takeover of
Inditherm plc in June 2015.
The combination of the Inspiration Healthcare and Inditherm
business continues to be a success. The Board has concluded that it
is appropriate to outsource the manufacturing of the Inditherm
product range to third party manufacturers which will result in the
simplification of the companies' operations including the closure
of the Company's factory in Wath upon Dearne on the 31 January
2017. A number of roles currently based at Wath upon Dearne will be
retained within the Group but re located. Inspiration will retain
the relevant know-how and IP under its control.
The company is also announcing the opening of a new corporate
office and R&D centre in Crawley, West Sussex which is due to
open in January 2017. Staff located at the current office in
Albourne, West Sussex will transfer to the new office which will
close. These new offices are being designed with facilities for the
company to showcase its entire product range to its distributors
from all over the world and the proximity to Gatwick Airport and
London make it an ideal location.
No changes are being made to the office and distribution centre
at Earl Shilton but space has been made available to accommodate a
number of roles from Wath upon Dearne.
Inspiration will take an exceptional provision in its accounts
for the year to 31 January 2017 of GBP0.5m to cover these
restructuring costs and expects a payback within 3 years. We
believe that disruption in the current year will be limited.
Neil Campbell, Chief Executive Officer, said today: "By
re-structuring our operations, we are streamlining the organisation
allowing us to improve our service and accelerate growth."
This announcement contains inside information.
Enquiries:
Inspiration Healthcare
Group plc
Neil Campbell, Chief Executive
Officer
Mike Briant, Chief Financial
Officer 01455 840555
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Nominated Adviser & Broker
Cenkos Securities plc
Bobbie Hilliam (NOMAD) 0207 397 8900
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Cadogan PR
Alex Walters 07771 713608
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About Inspiration Healthcare
Inspiration Healthcare (AIM: IHC) is a global supplier of
medical technology for critical care, operating theatre and other
medical applications. The Company provides high quality innovative
products to patients and caregivers around the world that help to
improve patient outcomes and efficiencies of healthcare
organisations with patient focused customer service and technical
support.
The Company's own brand of critical care solutions span
non-invasive respiratory management, thermoregulation and
diagnostics, and patient warming for newborns through to adults in
intensive care and the operating theatre, whilst the distribution
business supplies solutions to support specialised surgical
procedures and infusion therapies.
Present in over 50 countries worldwide, Inspiration Healthcare's
success has been built on continuous innovation, excellent customer
service and an inherent commitment to improving the quality of life
of patients, working in close collaboration with key opinion
leaders and stakeholders in the clinical and medical community
across the globe.
This information is provided by RNS
The company news service from the London Stock Exchange
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October 19, 2016 04:00 ET (08:00 GMT)
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