Inspiration Healthcare Group PLC AGM Statement (4815R)
June 15 2018 - 2:00AM
UK Regulatory
TIDMIHC
RNS Number : 4815R
Inspiration Healthcare Group PLC
15 June 2018
15 June 2018
Inspiration Healthcare Group plc
Inspiration Healthcare Group plc ("Inspiration Healthcare", the
"Company" or the "Group")
AGM statement
Inspiration Healthcare Group plc (AIM: IHC), the global medical
device company, will hold its Annual General Meeting at 11.30am
today and the Chairman, Mr Mark Abrahams, will give the following
statement to shareholders:
"We were delighted to post revenues of GBP15.5m for the year
ended 31 January 2018 and deliver the Group's fifteenth consecutive
year of revenue growth. Additionally, we recorded an Operating
Profit of GBP1.2m, slightly ahead of expectations. All of which was
achieved in an evolving and increasingly challenging medical
devices regulatory environment.
Our plans to launch new products in the current financial year
have been frustrated by the significant delays we have experienced
in obtaining an updated Quality Management System certificate and a
CE Mark approval for our upgraded Patient Warming System from our
Notified Body.
In the last 48 hours, and much later than we expected, we
received these two certificates and we will now endeavour to make
up for lost time and minimise the impact of the delay through
putting in place a number of cost saving measures across the Group.
We remain confident that the projected full year operating result
remains achievable and expect Group revenues will be weighted
towards the second half of the financial year.
Last week it was announced by NeuroproteXeon Limited ("NPXe"), a
company in which Inspiration Healthcare holds 10% of the current
issued share capital (or 8.1% diluted for options in existence at
the time of the announcement), that NPXe confirms that it is
seeking to complete an IPO on AIM in the second half of 2018. We
will continue to monitor developments with interest and will update
shareholders accordingly."
Enquiries:
Inspiration Healthcare Group Tel: 01455 840555
plc
Neil Campbell, Chief Executive
Officer
Mike Briant, Chief Financial
Officer
Nominated Adviser & Broker Tel: 0207 397 8900
Cenkos Securities plc
Mark Connelly
-------------------
Cadogan PR Tel: 07771 713608
Alex Walters
-------------------
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.
Further information on Inspiration Healthcare can be seen at
www.inspiration-healthcare.com
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Authority to act as a Primary Information Provider in the United
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END
AGMUSAKRWWANAAR
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