nSpire Health Reports Record Profits for 2011
LONGMONT, Colo.--(BUSINESS WIRE)--Mar 26, 2012-- nSpire Health, LLC, a leading provider of respiratory diagnostic devices and clinical trial services, today announced that 2011 earnings before interest and taxes were up 40% when compared to 2010. "Total year sales of $27.8M were up slightly year over year with sales in our higher margin services business up 9%. This was partially offset by a decline in the product based businesses principally in Europe. The Company is profitable and our balance sheet remains strong with net assets up 11% and no debt," said David Jackson Executive Vice President and CFO.
According to Michael Sims, President & CEO, "Our performance outpaced expectations as our Company's profitability improvements continued despite downward pressure on pricing and generally slower spending in hospital and physician office markets. We will continue emphasizing efficiencies via process improvement and technology investments while laying a foundation for supporting top line growth." Per Richard Rosenthal, Vice President of Sales and Marketing, the Company is poised to launch three extensions to its HDpft(TM) and KoKo(TM) lines in the first half of 2012. "The new products dramatically improve pulmonary function testing productivity through simplifying workflow, adding remote and mobile viewing applications, and seamless integration with electronic medical records." The Company also plans on adding comprehensive workflow automation to their leading-edge PiKoLogic(TM) electronic patient reported outcome device and eSP(TM) clinical trial software suite.
"I expect increasing share positions in our services business to continue and remain optimistic about a general brightening in our overall served markets through the balance of the year," said Sims.
About nSpire Health nSpire Health develops and manufactures respiratory care products and provides related services. The company is focused on cardiopulmonary diagnostics, respiratory clinical trial services, and disease management solutions designed to improve health care productivity while increasing the overall quality of patient care. nSpire Health is the exclusive provider of PiKo(R) home health monitors, PiKoLogic(TM) ePRO solutions, and HDpft(TM) systems, the most accurate and precise pulmonary function testing systems worldwide CONTACT: nSpire Health Tad Scheiblich, 1-800-574-7374 firstname.lastname@example.org www.nspirehealth.com KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA COLORADO IRELAND INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE HEALTH BIOTECHNOLOGY CLINICAL TRIALS MEDICAL DEVICES OTHER HEALTH SOURCE: nSpire Health Copyright Business Wire 2012 PUB: 03/26/2012 01:30 PM/DISC: 03/26/2012 01:30 PM http://www.businesswire.com/news/home/20120326006311/