Business Model

Learn about our Group strategy and business model

Learn about our Group strategy and business model

Inspiration Healthcare Group is an ethical Company with high principles in business. We take our responsibilities towards ESG (Environmental, Social and Governance) seriously and are always looking at ways to improve the way we operate our business, especially around issues that affect society as a whole. Our business model can be found here.

We are committed to reducing our impact on the planet wherever possible and undertake regular reviews of our practices to do so. Our aim is to have all operating companies within the Group working towards internationally recognised standards such as ISO14001 with the aim of being accredited to these standards. We have already initiated some changes to reduce our carbon footprint such as a policy to convert all company car users to fully Electric Vehicles /or hybrid (for exceptionally high mileage users only) by the end of 2023. We recycle wherever possible and adopt proactive working with suppliers on new materials and production methods to reduce environmental impact. Our operating companies, where applicable, comply to the WEEE (Waste Electric and Electronic Equipment) Regulations in Europe.

We are actively involved with our Trade Body, the ABHI (the Association of British HealthTech Industries) and provide input into sustainability initiatives for our industry, our Chief Operating Officer, Brook Nolson, is a member of the sustainability working party at the ABHI. We intend to place much greater emphasis on this area of our business over the next few years as we take a more holistic approach to our supply chain and the design of new products. Our new manufacturing and technology centre in Croydon will reduce our carbon footprint over time with low energy heating and ventilation systems and lighting along with more efficient workspace. Our New Product Development processes consider the environmental impact of our products throughout their life.

As a medical technology company we are deeply embedded in society to improve the outcomes for patients around the world. We are committed to using technology to improve patients’ lives but will do this in a way that has maximum benefit for society. We have also set up a charitable giving initiative, focused on neonatal research which we hope will have a significant impact on the lives of premature and sick babies in the future. We are an ethical employer and create a positive working environment for our employees. We aim to have roles that challenge, engage and develop our teams to their fullest potential. We are an equal opportunities employer and we aim to promote from within the Company wherever possible to give all our employees the chance of improving themselves and support them with relevant training.

We have considered our employees overall well-being. Through our Group’s HR team, we have recently launched the following initiatives: 

  • ‘Blended Working Policy’ allowing employees to work from home for up to 40% of their time
  • Trialling of a compressed working week, allowing employees to choose whether they would like to work a 4-day compressed working week and benefit from a 3-day ‘weekend’, that if successful will be offered to our employees in the future 
  • Improved parental pay for all new parents, including adoptions as well as, additional paid time off for those parents who have a premature baby 
  • Mental Health and Well-being App providing employees access to support if and when needed. In addition to the above, we monitor gender pay and recognise that we benefit from a diverse workforce as this brings about diversity of thinking which in turn will improve the Group’s performance. 

Finally, we invest in training and development of all of our employees so that no matter where they are in our business they can flourish. We are committed to ethical business practices and ensure all our employees understand their obligations to further ensure that business is conducted in a fair and transparent manner. Our operating companies have codes of conduct for how employees should expect to be treated and treat others. As a global supplier we respect cultures around the world. However, we never compromise on certain areas of our business and we have policies around issues such as modern slavery (read here), bribery and corruption and money laundering to ensure we are adopting best practice in these areas. 

As a Company listed on the Alternative Investment Market of the London Stock Exchange we follow the Quoted Companies Alliance good practice on Governance. Our Board consists of both Executive and Non-executive Directors. The Non-executive Directors are independent and are there to help guide us where needed along the path of best practice of Corporate Governance and ensure everything we do is of the highest level of governance and transparency.

As a medical technology manufacturer and provider we are deeply embedded in society to improve the outcomes for patients around the world. We actively seek to communicate with and support organisations and charities who focus on solving significant issues within healthcare. Our charity committee meet every 3 months to discuss and review causes which we feel can make a real difference to patient’s or their family’s lives. Our team research and engage with various charities, groups and NHS research projects.

If you are involved with a project that aligns with our core values please contact charity@inspiration-healthcare.com with an introduction and overview of your project. For more information please refer to our charitable giving requests procedure.

We have a range of leading edge products manufactured in-house or to our exacting standards through third party contract manufacturers to supply around the world. For information on each product please visit our websites.

We view our revenue streams in three distinct areas: Branded Products, Distributed Products and Technology Support.

Our branded products are those which we sell under our own brand, usually as the legal manufacturer with control over the intellectual property and place these products on the market around the world. We invest in R&D activities across our range of products to ensure our products are at the forefront of medical science as well as recognising the products environmental impact during its life. Each product brand is distinct but follows the same ethos of improving patient outcomes using leading edge technology.

Our Distributed Products are where we sell products from a third party manufacturer predominantly in the UK and Ireland and in some cases worldwide. These are products for which we have an agreed relationship to sell the products in certain territories, mainly the UK and Ireland, although in some instances further afield. Distributed Products complement our own Branded Product portfolio and add value to our customer proposition as we can offer a more comprehensive product range. We look to find manufacturers to partner with who have great technology in niche areas where we can truly add value as a partner and their products truly add value for us. This win-win approach has served us well and helped us offer a wonderful range of technology from around the world to our customers.

Our Technology Support offers usage and ownership options, service including planned preventative maintenance programmes, repairs and spare parts and training courses to allow users to maximise their experience with our Group’s products. Not all our customers want the same thing in terms of ownership or maintenance support, some wish to rent/hire equipment, some like to do their own maintenance, others prefer us to do it for them. Our flexible approach offers short and long-term rental of equipment for a specific patient or period. We offer planned preventative maintenance directly or through our distribution partners, with genuine spare parts, and technical training. In our more complex products, we offer different levels of training to ensure that clinicians by the bedside understand the maximum benefits our technology can deliver.

Our Core values are the deeply ingrained principles that guide our business and serve as our cultural cornerstones.

We have chosen not to specialise in one therapy area such as thermoregulation or respiratory medicine, but rather to look at how we can develop technologies that will change the outcome of a patient. 

Since our inception, our profile within the research community has always been high. We have supported clinical research by offering training, importing goods for trials and general logistics to help researchers solve medical problems through technology. 

New technology with novel features allows us to add to the value proposition of our products, helping differentiate from our competitors and potentially disrupt the market. We expect to see margin improvements through new products and increased growth.

Ultimately the technology and support we deliver to the healthcare professionals that use it daily is centred around the patient. Through customer service, technical support and clinical applications, we focus on delivering the best product we can to the patient at the right time.

We are privileged to work in markets that involve trying to save the lives of some of the most fragile patients. Over 15 million babies are born prematurely every year (approx. 1 in 10 live births) and globally this number is rising. Complications from preterm births are the leading cause of deaths in children under 5 and are estimated to cause over 1 million deaths in 2015 (Source: World Health Organisation). 

Not all babies who are premature need resuscitation and not all babies who are resuscitated are premature. Our technology is aimed at giving all babies that need it the best possible start in life. 

We also sell our own brand of patient warming products that are used within surgery and a range of distributed products for Infusion Therapy for applications such as parenteral feeding, and chemotherapy. 

Prematurity is the leading cause of Infant mortality in children under 5

We sell directly into the UK and Ireland (“Domestic”) and partner with established independent distributors in the rest of the world. Our partners actively sell in over 75 countries around the world. This model gives us the best of both worlds, as we can develop and support the direct market, giving access to Key Opinion Leaders (“KOL’s”) for knowledge of market trends that feed into new product development and first-hand product feedback via a team of clinically minded sales people. We can use the local knowledge and expertise of like-minded distributors, who can sell our products alongside others in their portfolio, and add value to their customers the way we do domestically. These distributors often introduce us to local KOL’s in their country which in turn feeds into our knowledge base for future product development.

In all international markets, regulations are becoming more widespread to ensure patient safety. It is important that we have an expert team to help work with distributors so that localisation of products, such as translations of instructions and other labels, or any specific regulatory requirements are met. This is an important blend of skills and expertise between local distributors, to provide intimate market knowledge, and our own sales, marketing and regulatory team to ensure the products are fit for the market and ensure local compliance.

The Acute Care market is the hospital setting where we sell to neonatal intensive care units and also obstetric departments and operating theatres. We are privileged to work in markets that involve trying to save the lives of some of the most fragile patients. Over 15 million babies are born prematurely every year (approx. 1 in 10 live births) and globally this number is rising. Complications from preterm births are the leading cause of deaths in children under 5 and are estimated to cause over 1 million deaths in 2018 (Source: World Health Organisation). The technology in our Branded Products is aimed at giving all patients the best possible outcome whether it is a baby that has been born prematurely, or a patient undergoing surgery and needing to be kept warm.

We have a dedicated team selling a range of distributed products for Infusion Therapy for applications such as parenteral feeding and chemotherapy. This area is rapidly growing and although we do not invest in R&D for these products, it is an important part of our business.

Our Service offering covers various products both own brand and third party, including those that we may not have exclusive distribution rights to. This allows us to add value to our customers around the world with technical support and spare parts.