Monday, February 22, 2016

News: Healthcare merger an inspiration


The healthcare group created when Rotherham company, Inditherm completed the acquisition of Inspiration Healthcare Limited in a reverse takeover is reporting that pre-tax profits are ahead of forecasts.

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.

The £7.2m deal, which completed last year, was announced after AIM-listed Inditherm completed a review of strategic options with the objective of creating shareholder value. Directors identified the need to make the business part of a larger entity, thereby allowing the medical business to grow with fewer constraints.

In an update to the stock exchange, Inspiration Healthcare Group said that it expects to report revenue for the year ended January 31 in line with market forecasts and profit before tax ahead of forecasts due to improved trading margins and deferred R&D expenditure.

It added "Since completion of the reverse takeover in June 2015, management has focused on re-engineering the business from two entities into a single supplier of Critical Care and Operating Room products. Part of the re-engineering has involved integrating the sales teams and the routes to market in the UK. Overseas, distribution options have been reviewed to ensure the Group has effective channels for the Group's products worldwide."

For the half year to July 31 2015, adjusted figures showed that the consolidated Group was showing healthy growth in revenue of 17% and an underlying return on sales of 8%. Revenue for the six months was £5.6m compared to £4.5m in the same period in 2014.

The group is set to launch innovative new products focused on the neonatal space.

Inditherm website
Inspiration Healthcare website

Images: Inspiration Healthcare


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