Inspiration Healthcare Group PLC Update on Ventilator Delivery to the NHS
August 20 2020 - 2:00AM
RNS Non-Regulatory
TIDMIHC
Inspiration Healthcare Group PLC
20 August 2020
Inspiration Healthcare Group plc
("Inspiration Healthcare", the "Company" or the "Group")
Update on Ventilator Delivery to the NHS
Inspiration Healthcare Group plc (AIM: IHC), the global medical
technology company is pleased to provide a further update on the
status for the delivery of ventilators as the UK National Health
Service demand for Covid ventilators likely diminishes, the Group
continues to satisfy the orders received from the UK National
Health Service announced on the 16(th) and 20(th) March 2020 with a
value totalling approximately GBP5 million. In the last few days
the Company delivered a further GBP1million of the orders, taking
the total amount delivered under these contracts to GBP3
million.
On the 11(th) August 2020, the Company gave an update on trading
stating that underlying revenues (ie prior to any contribution from
S.L.E. or Covid opportunities) for the Group in the first six
months were running 30% ahead of last year, with a healthy order
book in place. This strong performance continues and, in addition,
the recently acquired S.L.E. has, in the last few days, also
delivered over GBP0.5 million of ventilators to the NHS as part of
a separate order they had received. The integration of S.L.E. into
the Group is progressing according to plan and is providing the
significant short and long term commercial synergies expected by
management.
Neil Campbell, Chief Executive Officer, commented, "We have
continued to work tirelessly with our partners to get the
ventilators into the UK and delivered to the NHS. At the same time,
I'm pleased to report that the Company is trading well across all
its operations and we are working well with our colleagues at
S.L.E. to integrate the two businesses and also at Viomedex, which
means that we remain optimistic of our continued progress for this
financial year and beyond."
Enquiries:
Inspiration Healthcare Group plc Tel: 01455 840555
Neil Campbell, Chief Executive Officer
Jon Ballard, Chief Financial Officer
Nominated Adviser & Broker Tel: 0207 397 8900
Cenkos Securities plc
Mark Connelly
Stephen Keys
Cameron MacRitchie
Cadogan PR Tel: 07771 713608
Alex Walters
alex.walters@cadoganpr.com
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 GBP4 million and in June 2020 the
Company acquired S.L.E., a leading global provider of neonatal
ventilation products for GBP18 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRAGPUWURUPUGQB
(END) Dow Jones Newswires
August 20, 2020 02:00 ET (06:00 GMT)
Inspiration Healthcare (LSE:IHC)
Historical Stock Chart
From Apr 2024 to May 2024
Inspiration Healthcare (LSE:IHC)
Historical Stock Chart
From May 2023 to May 2024