- First-half adjusted operating profit up 22 per cent to £2.6m on 47 per cent higher revenue of £20.9m
- Analysts upgrade full-year operating profit forecasts by 12 per cent to £3.5m
- Integration of SLE acquisition almost complete
Crawley-based Inspiration Healthcare (IHC:123p), a fully integrated medical technology company with a strong focus on the high-growth neonatal intensive care market, has prompted analysts to upgrade their earnings estimates yet again. Last summer’s acquisition of SLE, a designer and maker of ventilators for neonatal intensive care, has been the driver.
That’s because SLE has not only enlarged the group’s global distribution network – 90 per cent of SLE’s sales are export orders with a strong focus on China, Japan, India and the Middle East – but is creating cross-selling opportunities, too. For example, by bundling consumable breathing circuits with the sale of SLE’s ventilators, and expanding market penetration into a larger installed ventilator and consumable customer base, Inspiration can introduce its breathing circuits to new customers who have been using rival products. In the six months to 31 July 2021, the group won an order worth £350,000 for its own brand Viomedex circuits from an SLE distributor in the Middle East.