LONDON (ShareCast) - (ShareCast News) - Inspiration Healthcare Group announced the conclusion of a strategic review undertaken by the board on Wednesday, in relation to its operations following the reverse takeover of Inditherm in June 2015.
The AIM-traded firm said the combination of the Inspiration Healthcare and Inditherm business continued to be a success.

Its board concluded that it is appropriate to outsource the manufacturing of the Inditherm product range to third party manufacturers, which will result in the simplification of the company's operations including the closure of the factory in Wath upon Dearne, on 31 January.

A number of roles currently based at Wath upon Dearne would be retained within the group but re-located, and Inspiration confirmed it would retain the relevant know-how and IP under its control.

The company also announced the opening of a new corporate office and research and development centre in Crawley, West Sussex which is due to open in January 2017.

Staff located at the current office in Albourne, West Sussex would transfer to the new office, with the existing office closing.

The board said the new offices were being designed with facilities for the company to showcase its entire product range to distributors, with the proximity to Gatwick Airport and London making it an ideal location.

No changes were being made to the office and distribution centre at Earl Shilton, but space had been made available to accommodate a number of roles from Wath upon Dearne, the board said.

Inspiration said it would take an exceptional provision in its accounts for the year to 31 January 2017 of £0.5m to cover the restructuring costs, and expects a payback within three years.

The board believed that disruption in the current year would be limited.

"By re-structuring our operations, we are streamlining the organisation allowing us to improve our service and accelerate growth," said CEO Neil Campbell.

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