Thursday, September 29, 2016

News: Solid start for Inspiration Healthcare

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The healthcare group created when Rotherham company, Inditherm completed the acquisition of Inspiration Healthcare Limited in a reverse takeover, has reported an increase in sales and a solid start to the year.

Manvers-based Inditherm has developed products using low voltage carbon polymer technology to provide heat. Its systems are used for patients undergoing operations which carry risk of inadvertent hypothermia and in neonatal wards.

Inspiration was founded in Leicestershire in 2003 as a medical device distribution company focused on innovative products for critical care.

Reporting its financial results for the six months to July 31 2016, the AIM-listed firm had a growth in sales on a proforma basis by 10% to £7.1m compared to the same period in the previous year. International sales were up 19% with growth in the Americas and Europe.

The profit after tax was £361k, up from the £504k loss reported as the takeover was concluded in 2015.

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The £7.2m reverse takeover came after Inditherm directors identified the need to make the business part of a larger entity, thereby allowing the medical business to grow with fewer constraints.

The latest results showed that operating room sales for the Inditherm Alpha range of perioperative patient warming systems showed an expected decline during a "difficult first half year."

The management team has identified and prioritised plans to improve the product in the short term as well as streamline the product offering and its promotion via a new sales team in the UK.

Spend on R&D is set to increase in the second half of the year with the board stating that there is untapped potential with the Inditherm Alpha system and the LifeStart system which facilitates the delaying of the clamping and cutting of the umbilical cord following childbirth by providing resuscitation at a newborn baby's bedside.

The company continues to support academics wishing to study the benefits that its products may bring. LifeStart is being used on studies both in Ireland and the United States of America and "interest in the LifeStart at the Paediatric Academic Society meeting (Baltimore) shows the concept of the product has great potential."

Inspiration Healthcare website

Images: Inspiration Healthcare


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