LONGMONT, Colo.--(BUSINESS WIRE)-- nSpire Health, LLC, a leading provider of respiratory diagnostic devices and clinical trial services, today announced that first half earnings before interest and taxes was up 22% when compared to the same period for 2010. “First half sales of $14.4M are up 6% year over year and our balance sheet remains strong. Our cash position is at the same level it was last year at this time despite reducing our debt by 60% or $300K and prudently investing in working capital and fixed assets,” said David Jackson, Executive Vice President and CFO.
According to Michael Sims, President & CEO, “The Company’s continued profitability improvements are supported by ongoing efficiency gains and increasing sales of newer products, particularly PiKoLogic®, the Company’s unrivaled ePRO solution supporting pharmaceutical companies worldwide.”
“While worldwide hospital spending for diagnostic devices and physician spending for point of care products remains weak, the rebound in spending from pharmaceutical customers for clinical trial services experienced throughout 2010 is steady,” said Michael Sims. “As such, I remain cautiously optimistic for the balance of 2011 despite sluggish economies both domestically and abroad.”
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® home health monitors, PiKoLogic® ePRO solutions, and HDpft™ systems, the most accurate and precise pulmonary function testing systems worldwide.
Keywords: nSpire Health, lung function diagnostics, PiKoLogic, ePRO, electronic patient reported outcomes, Michael Sims, David Jackson
KEYWORDS: United States North America Colorado
INDUSTRY KEYWORDS: Health Biotechnology Cardiology Clinical Trials Hospitals Medical Devices Pharmaceutical Medical Supplies