Instem has this morning provided an update on trading for the year to December 2014 – the result for the full year is in line with market expectations (and we assume our estimates). A good level of order intake has resulted in 2015 having the highest-ever opening backlog. In conjunction with the FDA’s recent (December 2014) timeline announcement for the SEND data standard, this suggests that momentum may be about to return to a number of market areas