- Annual revenue down 9 per cent to £37.6mn
- Cash profit down from £4mn to £2mn
- Pre-tax loss of £1.5mn excludes one-off costs of £4.5mn
- Boardroom strengthened
- £2.9mn placing and retail offer
Crawley-based Inspiration Healthcare (IHC:18p), a fully integrated medical technology company with a focus on the high-growth neonatal intensive care market, has overhauled its boardroom and announced a fundraising to shore up its balance sheet alongside disappointing annual results.
Chief executive Neil Campbell is being replaced by non-executive chair Roy Davis, who will take on the role of interim chief executive. Appointed to the board in December 2023, Davis has held leadership positions at several publicly quoted medical technology companies, including: non-executive chair at Medica Group, a leading UK tele-radiology company until its acquisition by IK partners for £269m in 2024; chief executive of Optos, a leading retinal imaging device manufacturer, from 2008 to 2016 until its sale to Nikon for $400mn in 2015; and chief executive of Gyrus Group, a leader in minimally invasive surgery and visualisation, until its acquisition by Olympus Corporation in 2008 for $1.9bn.