Thursday, March 31, 2011

News: Inditherm increase profit and reduce losses


Innovative Rotherham company, Inditherm has published its latest financial results showing that gross profit has increased and operating loss has reduced thanks to good performance from their medical business.

Based in Manvers, Inditherm's energy efficient polymer technology is used in heating mattresses, pipework, sports pitches, storage vessels and medical treatments.

For the 12 months ended 31 December 2010, gross profit increased 58% to £805k and operating loss was £417k compared to £750k in 2009.

Overall medical orders in 2010 grew by 50%. This comprised 38% growth in orders from non-US distributors and 90% growth in the UK. Inditherm's technology is used to warm patients during surgery and in neonatal wards.

Last year the company secured a deal to supply 30 complete patient warming systems to a UK hospital, their largest ever NHS order.

In a further boost, draft guidance from the new NICE medical technologies programme, published in January, provisionally supports the use of the Inditherm patient warming mattress to prevent inadvertent hypothermia during surgery. Final guidance is expected next month and should lead to accelerated uptake of Inditherm medical products in the NHS.

In order to concentrate on the medical business, Inditherm signed an agreement in December that assigns exclusive distribution for the process solutions part of their industrial business to a subsidiary of the ADI group.

Mark Abrahams, Chairman of Inditherm, said: "The encouraging signs we started to see at the beginning of 2010 continued throughout the year. I am pleased to report significant revenue growth, particularly from the medical business. I am also delighted with the draft guidance from NICE on our patient warming system, which should increase NHS uptake of our products if finalised in its current form.

"Inditherm has appointed a distributor to take over part of the industrial business that has not met expectations, allowing us to focus on areas of the business with stronger growth potential. Although it is too early to predict whether the market has fully recovered, our increasing global footprint should allow the company to maintain sales momentum in 2011."

Inditherm website



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