Inspiration Healthcare cruises through forecasts after strong second half

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  • Specialist in neonatal equipment
  • Also supplying ventilators for Covid-19 patients
  • Acquisitions have boosted sales to record levels

What the company does


Inspiration Healthcare PLC (LON:IHC) is a supplier of medical technology for critical care, operating theatres and home healthcare applications.


Its product range includes respiratory management, thermoregulation and patient warming for newborns and adults in intensive care and the operating theatre.


It also supplies equipment used in specialised surgical procedures and infusion therapies.


Acquisitions have been driving the business including most importantly S.L.E in June which almost doubled its size and took the business into neonatal and other ventilators, which it has also been supplying to help with Covid-19 patients.


Last September, it paid GBP4mln for VIOMEDEX, which designs, manufactures and supplies single-use respiratory products and sterile medical consumables, principally for the respiratory care market. The business performed in line with financial expectations for the four months from acquisition, Inspiration said.


How it is doing


In February, Inspiration Healthcare said it had generated record revenues in the year to January 31 2021.


Revenue is anticipated to surge 52% to GBP36.8mln, including SLE, Viomedex and the ‘one-time’ ventilator orders relating to COVID-19 in the UK, it added.


The med-tech company had already said that revenue would be above market expectations and “not less than” GBP36.5mln.


As previously announced, underlying earnings (EBITDA) will be at least GBP4.9mln, representing growth of more than 53% over the prior financial year.


The AIM-listed firm will release the preliminary results on April 27.


What the boss says: Neil Campbell, chief executive


“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.”


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