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Inspiration Healthcare Group PLC - Crawley, England-based medical technology company specialising in neonatal intensive care medical services - Says that a material export order that was due at the end of January remains outstanding, and is unable to confirm a date, citing "factors outside of its control." Further, Inspiration receives a waiver from its lender regarding covenant tests on its debt facility on Tuesday. "Alternate covenants have been agreed until April 30, 2025 which will need to be met and bank consent received ahead of any further drawdowns of the revolving credit facility," it says. The company is also investigating alternative financing options in the event the order is not received.
Aside from the delayed delivery, Inspiration Healthcare says that trading in its first quarter has remained challenging, and expects underlying growth for the full financial year to be mid-single digits. Meanwhile, it notes that Airon Corp, its newly bought business in Florida, has started the year positively with business reporting "significant growth over the prior year." Airon develops pneumatic life support ventilators, among others.
Current stock price: 17.90 pence, down 42% on late Wednesday morning in London
12-month change: down 64%
By Tom Budszus, Alliance News slot editor
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