AGM Statement

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: [phone]
Neil Campbell, Chief Executive Officer Alan Olby, Chief Financial Officer
Liberum (Nominated Adviser & Broker)	Tel: [phone]
Phil Walker, Richard Lindley, William Hall, Will King
Walbrook PR Ltd (Media and Investor Relations)	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) 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

 

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