Inspiration Healthcare Group PLCs (LON:IHC) acquisition of ventilator maker S.L.E. Limited has “transformed” the business and almost doubled its size, according to chief executive Neil Campbell.
Speaking to Proactive, Campbell said the £18mln transaction, originally announced last Friday, is “a very big deal” for the group and has shifted the company from “an £18mln turnover business to a £34mln turnover business…almost overnight”.
READ: Inspiration Healthcare to acquire ventilator maker, raises funds[hhmc]
S.L.E. is primarily focused on neonatal ventilators, designed for very small children and premature babies, rather than adult patients, which Campbell said suits the company “down to the ground”.
“Our strategy is to become a world leader in neonatal intensive care and this really helps that fit”, the CEO said, adding that the newly enlarged company will now be exporting around £20mln of goods and derive 60% of its revenues from overseas, helping to fulfil what Campbell said is the desire for Inspiration to become a “global company”.
S.L.E. is also “growing, profitable and cash generative,” he said, adding that the company also has “some great technology [and] a very strong brand in the Middle East and the Far East”.
Inspiration was also supported in the acquisition through a well-received fundraising of £16.5mln, which Campbell said was “substantially more” than they were expecting of between £10-£15mln.
“It is been very pleasing to see the institutional investors see the synergies in the acquisition, putting these two great brands together to create that leading company in neonatology”, he said.
Looking ahead, Campbell said the acquisition is expected to be accretive in the near to medium-term, and that there will be some cost savings as a result of the synergies.
He added thRead More – Source
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