Inspiration appoints Stepanian as CEO
Portfolio - People | Dec 12, 2024 | Business Cloud
Inspiration Healthcare Group plc, a UK-based medical technology company specializing in neonatal intensive care devices, has named Raffi Stepanian as its new CEO, effective from January 8, 2025. This follows the departure of former CEO Neil Campbell amid a significant drop in the company's share price. Interim CEO Roy Davis will return to the role of non-executive chairman. Despite financial challenges, including a 17% drop in first-half revenue and a pre-tax loss, the company's share price has seen some recovery. Stepanian brings extensive experience from his previous role as CEO of Breas Medical and various leadership positions at GE Healthcare. He is expected to drive the company's growth strategy and capitalize on new market opportunities.
Sectors
- Medical Technology
Geography
- United Kingdom – Inspiration Healthcare is based in Crawley, UK, and the article discusses their strategic leadership changes.
- Sweden – Raffi Stepanian's previous role as CEO of Breas Medical, a Swedish-based company, is relevant in the article.
Industry
- Medical Technology – The article focuses on Inspiration Healthcare, a company involved in the production and innovation of medical devices, particularly for neonatal intensive care.
Financials
- £11.2m in May, £12.55m today – The share price of Inspiration Healthcare as it stabilized post-Campbell's tenure.
- 17% drop in first-half revenue to £17m – The company's financial performance in the first half of the year.
- £2.5m adjusted pre-tax loss – The company's adjusted loss for the period.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Inspiration Healthcare Group plc | Target Company | Company | A UK-based company specializing in medical technology for neonatal intensive care. |
| Raffi Stepanian | Incoming CEO | Person | Previously CEO of Breas Medical and held leadership roles at GE Healthcare. |
| Neil Campbell | Former CEO | Person | Stepped down as CEO of Inspiration Healthcare in May. |
| Roy Davis | Interim CEO/Non-Executive Chairman | Person | Interim CEO since May and returning to the role of non-executive chairman. |
| Breas Medical | Raffi Stepanian's Former Company | Company | A Swedish-based company that designs, manufactures, and markets ventilation devices. |
| GE Healthcare | Raffi Stepanian's Former Employer | Company | A company where Stepanian held multiple leadership roles. |