Inspire Medical Systems, Inc. Announces Countrywide Reimbursement in France

Rhea-AI Summary

Inspire Medical Systems, Inc. (NYSE: INSP) has announced countrywide reimbursement for its Inspire therapy in France, expanding access to its innovative treatment for obstructive sleep apnea (OSA). This development marks a significant milestone for Inspire, as France represents the second-largest OSA market in Europe. The company's strategy of securing reimbursement before commercialization has proven successful, with France joining other key European countries in providing coverage for Inspire therapy.

Tim Herbert, Chairman and CEO of Inspire, emphasized the clinical efficacy and safety of their minimally invasive solution for moderate to severe OSA. The therapy, which received European Conformity Marking in 2010, is now poised to benefit French patients and physicians. Andreas Henke, Executive VP and Managing Director Europe, highlighted that this reimbursement approval provides French sleep physicians with a new therapeutic option for untreated OSA patients.

Positive

• Secured countrywide reimbursement for Inspire therapy in France
• Expanded market access to the second-largest OSA market in Europe
• Reimbursement approval consistent with other European and global markets
• Successful implementation of strategy to secure reimbursement before commercialization

Negative

• None.

News Market Reaction

-2.51%

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-2.51% News Effect

On the day this news was published, INSP declined 2.51%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MINNEAPOLIS, July 23, 2024 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE: INSP) (Inspire), a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea (OSA), announced today the publication of the reimbursement of Inspire therapy in France.

“We are thrilled to offer our clinically proven treatment option for moderate to severe OSA to patients and physicians in France,” said Tim Herbert, Chairman and Chief Executive Officer of Inspire. “Inspire therapy is backed by a strong body of evidence and years of clinical experience demonstrating the safety and efficacy of our therapy.”

Inspire therapy received European Conformity Marking for commercialization in Europe in 2010. Since that time, the company’s approach has been to secure reimbursement in targeted countries prior to commencing commercialization efforts. Inspire has already established reimbursement in many key European countries, and the addition of full reimbursement in France expands the market opportunity as France is the second largest OSA market in Europe. The approval in France provides reimbursement consistent with other European and global markets.

“Thanks to the reimbursement of Inspire therapy by the French Social Security, sleep physicians now have a new therapeutic option for patients with untreated OSA,” said Andreas Henke, Executive Vice President, Managing Director Europe.

About Inspire Medical Systems

Inspire is a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea. Inspire’s proprietary Inspire therapy is the first and only FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

For additional information about Inspire, please visit www.inspiresleep.com or www.inspiresleep.fr.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements, including, without limitation, those regarding our expectations to commercialize Inspire therapy in France. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated, including the factors identified under the captions “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC, and as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and the Investors page of our website at www.inspiresleep.com. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.

Investor and Media Contact
Ezgi Yagci
Vice President, Investor Relations
ezgiyagci@inspiresleep.com
617-549-2443

FAQ

What is the significance of Inspire Medical Systems' reimbursement approval in France?

The reimbursement approval in France is significant as it expands access to Inspire therapy in the second-largest obstructive sleep apnea (OSA) market in Europe, potentially increasing Inspire Medical Systems' market reach and revenue opportunities.

When did Inspire therapy (INSP) receive European Conformity Marking?

Inspire therapy received European Conformity Marking for commercialization in Europe in 2010.

How does Inspire Medical Systems' approach to market entry differ from other companies?

Inspire Medical Systems' approach is to secure reimbursement in targeted countries prior to commencing commercialization efforts, ensuring market access and financial viability before entering new markets.

What condition does Inspire Medical Systems' (INSP) therapy treat?

Inspire Medical Systems' therapy treats moderate to severe obstructive sleep apnea (OSA).