Inspiration Healthcare Group PLC Project WAVE MHRA Approval
16 November 2020 - 6:00PM
RNS Non-Regulatory
TIDMIHC
Inspiration Healthcare Group PLC
16 November 2020
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 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
Cameron MacRitchie
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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