Inditherm acquisition helps to lift Inspiration Health

(ShareCast News) - Global medical device company Inspiration Healthcare Group announced its interim results for the six months to 31 July on Wednesday, with sales on a proforma basis including the June 2015 acquisition Inditherm growing by 10% to £7.1m, with strong growth in critical care.The AIM-traded firm said international sales were up 19% with growth in the Americas and Europe, and operating profit on a proforma basis grew 12% to £0.6m.It said interest in the LifeStart at the Paediatric Academic Society meeting in Baltimore showed the concept of the product has great potential, with research and development work during the period focused on CE Marking the Inspire rPAP system, the first product from its new R&D team.Cash remained strong, ending the half year at £3.0m, compared to £2.3m at 31 January .On a statutory basis sales grew 26% to £7.1m, and operating profit was 18% lower at £0.6m."The excellent performance in our first half is pleasing as the new team have got to grips with the challenges in the market," said CEO Neil Campbell."We continue to invest in sales and marketing and new product development to position the company for continued growth."At 1136 BST, shares in Inspiration Healthcare were down 12.39% at 62.2p.