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Last checked at 
31 Jan 2024 07:00
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Inspiration Healthcare Group plc
("Inspiration Healthcare", the "Company" or the "Group")
Trading update
Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company pioneering best-in-class, specialist neonatal intensive care medical devices, announces a trading update for the year ended 31 January 2024 ("FY24").
The Company expects to report revenues for FY24 of £37.0 million, which is below current market expectations. This mainly relates to a delay to one material export order that was due to be shipped during the current financial year and is now expected to be shipped early in FY25. As a result of the timing difference, net debt is approximately £6.4 million (excluding IFRS16 lease liabilities) and the Company has sought a covenant waiver from its lender in respect of the 31 January 2024 covenant test date. A further announcement will be made in due course.
For further information, please contact:
Inspiration Healthcare Group plc | Tel: +44 (0)330 175 0000 |
Neil Campbell, Chief Executive Officer Alan Olby, Chief Financial Officer | |
Liberum (Nominated Adviser & Broker) | Tel: +44 (0)20 3100 2000 |
Phil Walker Richard Lindley Will King | |
| |
Walbrook PR Ltd (Media and Investor Relations) | Tel: +44 (0)20 7933 8780 or inspirationhealthcare@walbrookpr.com |
Anna Dunphy | Mob: +44 (0) 7876 741 001 |
Stephanie Cuthbert | Mob: +44 (0) 7796 794 663 |
Louis Ashe-Jepson | Mob: +44 (0) 7747 515 393 |
About Inspiration Healthcare
Inspiration Healthcare (AIM: IHC) designs, manufactures and markets pioneering medical technology. Based in the UK, the Company specialises in neonatal intensive care medical devices, which are addressing a critical need to help to save the lives and improve the outcomes of patients, starting with the very first breaths of life.
The Company has a broad portfolio of its own products and complementary distributed products, for use in neonatal intensive care designed to support even the most premature babies throughout their hospital stay. Its own branded products range from highly sophisticated capital equipment such as ventilators for life support through to single-use disposables.
The Company sells its products directly to hospitals and healthcare providers in the UK and Ireland, where it also distributes a range of advanced medical technologies for infusion therapy. In the rest of the world the Company has an established network of distribution partners around the world giving access to more than 75 countries.
The Company operates in the UK from its world-class Manufacturing and Technology Centre in Croydon, South London and from its facility in Hailsham, East Sussex, and in the USA from its facility in Melbourne, Florida.
Further information on Inspiration Healthcare can be found at www.inspirationhealthcaregroup.com
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