Inspiration Healthcare Group PLC Results date and post period end update (4964P)

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RNS Number : 4964P

Inspiration Healthcare Group PLC

18 February 2021

Inspiration Healthcare Group plc

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

Results date and post period end update

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company, is pleased to confirm that it expects to announce its preliminary results for the financial year ended 31 January 2021 on 27 April 2021.

The Group also gives a post period end update in respect of the financial year ended 31 January 2021. Following the announcement made on 25 January 2021, when the Group announced that it expected to exceed market expectations with revenues to exceed GBP36.5m, it now anticipates reporting Group revenue of approximately GBP36.8 million representing an increase of 52% compared to the prior financial year with the inclusion of SLE, Viomedex and the 'one time' ventilator orders relating to Covid-19 in the UK. As announced in January 2021, EBITDA(1) is expected to be not less than GBP4.9 million, representing growth of more than 53% over the prior financial year.

Neil Campbell, Chief Executive Officer, commented: "I am delighted to confirm that the Group achieved a record turnover in the last financial year against a backdrop of uncertainty caused by the Covid-19 pandemic and Brexit. It demonstrates that the Group is well balanced in terms of products and services. We are pleased with the progress of integration of the SLE business into the Group along with its contribution to growth and we are well positioned to continue growth this year and beyond."

1 Earnings before interest, tax, depreciation, amortisation, share based payments and exceptional items.

Enquiries:

 
 Inspiration Healthcare Group plc          Tel: [phone] 
  Neil Campbell, Chief Executive Officer 
  Jon Ballard, Chief Financial Officer 
 Nominated Adviser & Broker                Tel: [phone] 
  Cenkos Securities plc 
  Mark Connelly 
  Stephen Keys 
                                          ------------------- 
 Cadogan PR                                Tel: [phone] 
  Alex Walters 
  [e-mail] 
                                          ------------------- 
 
   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 six 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 a 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 GBP3.7 million and in June 2020 the Company acquired SLE, a leading global provider of neonatal ventilation products for GBP18 million. Over 90% of SLE's revenues are generated from sales outside of the UK with a significant proportion of these in the 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 U.K. 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 

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February 18, 2021 02:00 ET (07:00 GMT)