Last checked at 16 Nov 2020 07:00
Inspiration Healthcare Group plc
("Inspiration Healthcare", the "Company" or the "Group")
Project WAVE - MHRA Approval
Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company is pleased to announce that it has received confirmation from the Medicines and Healthcare products Regulatory Agency (MHRA) to proceed with clinical testing for the respiratory device it has designed for use in neonatal intensive care known as Project WAVE.
Initial trials are now expected to begin in the next few months at the Trevor Mann Baby Unit, Brighton & Sussex University Hospital (Royal Sussex). The Company acquired the technology for Project WAVE, a non invasive device to support breathing in premature infants, under a licence agreement in 2018 from a leading U.S. West Coast University and the project was granted a patent by the U.S. Patent Office in March 2020.
Neil Campbell, Chief Executive Officer, commented: "We are delighted to have passed this regulatory hurdle and getting Wave one step further in its development and are all looking forward to beginning our work with the neonatal team at the Royal Sussex to demonstrate the efficacy of this important new technology and approach in neonatal care."
Enquiries:
Inspiration Healthcare Group plc Neil Campbell, Chief Executive Officer Jon Ballard, Chief Financial Officer | Tel: 01455 840555
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Nominated Adviser & Broker Cenkos Securities plc Mark Connelly Stephen Keys Cameron MacRitchie | Tel: 0207 397 8900
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Cadogan PR Alex Walters alex.walters@cadoganpr.com | Tel: 07771 713608 |
About Inspiration Healthcare http://www.inspiration-healthcare.com
Inspiration Healthcare (AIM: IHC) is a global provider of medical technology for use in critical care & operating theatres. The Company provides high-quality, innovative products to patients around the world which help to improve patient outcomes, and it actively invests in innovative product opportunities and disruptive technologies.
Through investment in research and development the Company has six key own-brand products that can be used within the first 6 hours of life to help premature and sick babies; helping with assessment, resuscitation, stabilisation as well as preventing brain damage. Additionally, the Company has a range of products for maintaining normothermia pre- during and post-surgery.
In September 2019, the Company acquired Vio Holdings a designer, manufacturer and supplier of single-use respiratory products and sterile medical consumables for £4 million and in June 2020 the Company acquired SLE, a leading global provider of neonatal ventilation products for £18 million. Over 90% of SLE's revenues are generated from sales outside of the UK with a significant proportion of these in the Asia Pacific and the Middle East. When combined, the Group generates approximately 60 per cent. of its revenue from exports.
With product availability extending to over 50 countries through a distribution network, Inspiration Healthcare's success has been built on continuous innovation, excellent customer service and an inherent commitment to improving patient outcomes, working in close collaboration with key opinion leaders across the globe.
In the U.K. and Ireland, the Company has a direct sales team selling Inspiration Healthcare Branded and complementary products from third parties, with an additional range of home healthcare products. This is supported by Technical Support for planned preventative maintenance and emergency assistance.
Further information on Inspiration Healthcare can be seen at www.inspiration-healthcare.com