Inspiration Healthcare Group PLC on Thursday secured its largest single order for neonatal ventilators, following a long period of negotiations.
The Croydon, England-based healthcare technology company said it signed a $4.3 million contract for the delivery of neonatal intensive care medical devices.
Inspiration Healthcare shares were up 18% to 22.44 pence each in London on Thursday afternoon, but had reached an intra-day high of 24.00p earlier on.
Included in the order are SLE6000 neonatal ventilators, First Breath respiratory support devices, and associated accessories.
Chair & Interim Chief Executive Officer Roy Davis said: ‘This is the largest single order we have executed for our SLE6000 ventilators and was previously delayed so that we could agree commercial terms and ensure the foundations for a long-term relationship were in place. We are confident of swifter and more streamlined negotiations on future potential orders.’
Originally, the contract was expected to be signed with the products shipped in the last financial year.
Following the signing, Inspiration Healthcare is now working towards finalising the agreed letter of credit and expects to ship the products in the second half of the current financial year.
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