Inspiration Healthcare Group PLC $4.3 million contract

RNS Number : 7327X

Inspiration Healthcare Group PLC

25 July 2024

 

 

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The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 

25 July 2024

Inspiration Healthcare Group plc

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

 

$4.3 million contract for delivery of delayed material export order

Contract terms in place for potential long term trading relationship

 

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company pioneering best-in-class, specialist neonatal intensive care medical devices, announces it has signed a $4.3 million contract for the delivery of SLE6000 neonatal ventilators, First Breath™ Humidification and associated accessories.

 

The contract was anticipated to be signed and products shipped in the previous financial year but was delayed while final contract terms were negotiated. The Company is now working to finalise the agreed letter of credit and expects to ship the products in the second half of the current financial year.

 

The SLE6000 is Inspiration Healthcare's leading, best-in-class neonatal ventilator, that facilitates precise, controlled ventilation for critically ill infants. They are used extensively around the world to provide vital life support to premature and sick babies.

 

Roy Davis, Executive Chair and Interim CEO of Inspiration Healthcare, said: "This is the largest single order we have executed for our SLE6000 ventilators and was previously delayed so that we could agree commercial terms and ensure the foundations for a long-term relationship were in place. We are confident of swifter and more streamlined negotiations on future potential orders.

 

This significant contract underlines the SLE6000's position as a global best-in-class neonatal ventilator, which is specifically designed to address a critical need to help save the lives and improve the outcomes of preterm babies. We are delighted our products will reach more patients globally, providing healthcare professionals the ability to support patients, starting with the very first breaths of life."

 

For further information, please contact:

 

Inspiration Healthcare Group plc		Tel: [phone]
Roy Davis, Executive Chair and Interim Chief Executive Officer Alan Olby, Chief Financial Officer
Panmure Liberum Capital Limited (Nominated Adviser & Broker)		Tel: [phone]
Richard Lindley Will King
Walbrook PR Ltd (Media & IR)	Tel: [phone] or [e-mail]
Anna Dunphy		Mob: [phone]
Stephanie Cuthbert		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.

 

The Company sells its products directly to hospitals and healthcare providers in the UK and Ireland, where it also distributes a range of advanced medical technologies for infusion therapy.  In the rest of the world the Company has an established network of distribution partners around the world giving access to more than 75 countries.

 

The Company operates in the UK from its world-class Manufacturing and Technology Centre in Croydon, South London and from its facility in Hailsham, East Sussex, and in the USA from its facility in Melbourne, Florida.

 

Further information on Inspiration Healthcare can be found at www.inspirationhealthcaregroup.com

 

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