The impressive turnaround at Inspiration Healthcare Group plc is continuing following major changes last year.
In May 2024 founder Neil Campbell stepped down as CEO following nine years at the helm and subsequently left the company after more than 20 years of service. The development followed a dramatic fall in share price from around 31 pence to 16p.
A cost reduction programme was implemented during the second half of last year, delivering annualised savings of £1.25m.
The Crawley-based medical technology group, maker of neonatal intensive care medical devices, appointed Raffi Stepanian (pictured) as CEO in January. It has seen its share price rise 96% in the year to date, with a 16% rise in early trading today after reporting positive half-year results. It currently stands at 24.5p (as at 8.17am).
For six months ended 31st July 2025, it saw revenue growth of 41% to £24m, while net debt reduced by £1.6m to £6.7m. The results are ahead of market expectations.
Inspiration said its ventilators contract with a global humanitarian aid group focusing on child and infant welfare – the largest it has won to date, at $6m – was fully delivered in the period and a majority of payment received.
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The remainder of this payment, relating to installation of the equipment, is expected to be received in early H2.
Its Middle Eastern contract is also progressing, with the first shipment of ventilators and accessories delivered in the period and payment received.
“I am pleased to report that we have had a robust first half performance and continue to see the benefits of our turnaround strategy,” said CEO Stepanian.
“With strong revenue growth of 41%, enhanced gross margins, a significant improvement in EBITDA and a reduction in net debt, we are seeing clear evidence that our disciplined ‘back-to-basics’ approach is driving financial recovery and setting a solid foundation for continued momentum into the second half of the year and beyond.
“Our pipeline is strong and we are continuing an upward trajectory. We remain confident in delivering our full-year expectations and creating long-term value for shareholders.”
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