Inspiration Healthcare Group PLC (AIM:IHC) announced it has signed a $4.3 million contract for its SLE6000 ventilators, First Breath Humidification, and associated accessories.
The contract was expected to be signed in the company’s previous financial year but was delayed by negotiations.
IHC told investors that it expects to finalise a letter of credit and deliver the products in the second half of the current financial year.
"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,” interim chief executive Roy Davis said in a statement.
“We are confident of swifter and more streamlined negotiations on future potential orders.”
Davis added: “This significant contract underlines the SLE6000's position as a global best-in-class neonatal ventilator, which is specifically designed to address a critical need to help save the lives and improve the outcomes of preterm babies.
“We are delighted our products will reach more patients globally, providing healthcare professionals the ability to support patients, starting with the very first breaths of life."
In London, IHC shares climbed 3.34p or 17.6% changing hands at 22.35p each.