TIDMIHC

Inspiration Healthcare Group PLC

02 December 2020

Inspiration Healthcare Group plc

("Inspiration Healthcare", the "Company" or the "Group")

European Patent granted for Project WAVE

Inspiration Healthcare Group plc (AIM: IHC), the global medical technology company, is pleased to announce that "Project WAVE" has been granted a patent by the European Patent Office and can now be validated in individual countries within the EU.

"Project WAVE" is a novel technology used in a respiratory device for neonatal intensive care which was acquired under licence by Inspiration Healthcare in 2019 from a major US West Coast University. The project has been granted a patent by the US Patent Office which was announced on 25 March 2020.

On 16th November 2020 it was announced that the UK Medicines and Healthcare products Regulatory Agency (MHRA) has cleared project WAVE for clinical testing which is expected to commence in the new year at the Trevor Mann Baby Unit, Brighton & Sussex University Hospital (Royal Sussex).

Neil Campbell, Chief Executive Officer, commented: "As we continue to move forward in the development of Project WAVE this is another milestone passed and one which both protects our IP and the investment we have made to ensure that this technology soon becomes adopted in hospitals, and we remain confident that once this happens, we will begin to see improved medical outcomes using this novel technology."

Enquiries:

 
 Inspiration Healthcare Group plc          Tel: 01455 840555 
  Neil Campbell, Chief Executive Officer 
  Jon Ballard, Chief Financial Officer 
 Nominated Adviser & Broker                Tel: 0207 397 8900 
  Cenkos Securities plc 
  Mark Connelly 
  Stephen Keys 
                                          ------------------- 
 Cadogan PR                                Tel: 07771 713608 
  Alex Walters 
  alex.walters@cadoganpr.com 
                                          ------------------- 
 
   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 GBP4 million and in June 2020 the Company acquired SLE, a leading global provider of neonatal ventilation products for GBP18 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 

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December 02, 2020 02:00 ET (07:00 GMT)