28 May
2024
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")
Board
Changes
Inspiration Healthcare Group plc (AIM: IHC),
the global medical technology company pioneering best-in-class,
specialist neonatal intensive care medical devices,
announces the following board changes.
Neil Campbell will step down as CEO of
Inspiration Healthcare on 30 May 2024 and become a Non-Executive
Director of the Company. He will formally leave full time
employment with the Company at the end of June and become a
consultant to the business as a Global Advocate supporting key
relationships and business development opportunities. Neil
has been with the Group for over 20 years having been one of the
original founders of Inspiration Healthcare and was appointed as
CEO of the Group in June 2015.
At the request of the Board, Roy Davis,
Non-Executive Chair is to become Executive Chairman and Interim CEO
of the Company.
Roy brings a wealth of commercial
experience in medical devices companies and has a proven track
record of successfully scaling companies and delivering substantial
value for shareholders. His expertise includes delivering
sales growth strategies, transforming business operations,
enhancing operational efficiency, and increasing productivity to
yield higher profits. He has held leadership positions at a
number of publicly quoted med tech companies, including as
Non-Executive Chair at Medica Group plc, a leading UK
tele-radiology company until its acquisition by IK partners for
£269m in 2024. He was also CEO of Optos plc, a leading retinal imaging device manufacturer from 2008 to
2016 until its sale to Nikon for $400 million in 2015 and CEO of
Gyrus Group plc, a leader in minimally invasive surgery and
visualisation, until its acquisition by Olympus Corporation in 2008
for $1.9 billion.
Commenting on the change, Roy Davis,
Executive Chairman said:
"Neil has played an important role
over the last 20 years in founding the business, as a dedicated
member of the Inspiration team and as Board member.
I
would like to thank Neil for his tireless commitment to the
business and look forward to his continued involvement as a
Non-Executive Director and advisor going forward. In becoming
Executive Chairman and Interim CEO I look forward to working with
the team to help Inspiration Healthcare on the next stage of its
journey and to achieving its full potential."
Neil Campbell commented:
"I am pleased to be able to
transition from an executive to a Non-Executive role with
Inspiration Healthcare. While the business has experienced some
challenges in recent times, I am incredibly proud of what we have
achieved from start-up 20 years ago to where it is today. I
look forward to being able to continue to contribute to the
business as a Non-Executive Director."
The Board will keep shareholders
updated on the process to appoint a permanent CEO in due
course.
For further
information, please contact:
|
Inspiration Healthcare Group plc
|
Tel: +44 (0)330 175 0000
|
|
Roy Davis, Executive
Chairman
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