Strong demand year-to-date driving revenues already exceeding sales for full-year 2015
Inspire therapy is currently available at more than 100 leading medical centers across the U.S. and Europe
Company Named 33rd Fastest-Growing U.S. Private Company on Inc. 5000
MINNEAPOLIS, Aug. 22, 2016 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc., a medical technology company that has developed and is commercializing a neurostimulation platform for the treatment of obstructive sleep apnea (OSA), today announced that the Company’s Inspire therapy has now been implanted in over 1,000 patients in the U.S. and Europe.
Inspire therapy is an FDA-approved treatment for people with moderate to severe OSA who are unable to use continuous positive airway pressure (CPAP). In contrast to CPAP, the Inspire device works inside the body and with a patient’s natural breathing process. Inspire also previously received CE Mark, which allows for commercial use of the device in Europe.
The growing demand for Inspire therapy has generated revenues year-to-date that have already exceeded sales for the full-year 2015. Moreover, in recognition of the Company’s rapid revenue growth through calendar year 2015, Inspire was recently named by Inc. magazine as the 33rd fastest-growing private company in America on the 2016 Inc. 5000 list. The rankings are based on the percentage of revenue growth over a four-year period.
In support of driving further growth of Inspire, important clinical data was recently presented at the 30th Annual SLEEP Meeting in Denver, Colorado. Among several oral/poster presentations, three presentations included additional clinical evidence for patients implanted with Inspire and one that included further long-term data from the Stimulation Therapy for Apnea Reduction (STAR) trial. Each study supported the fact that Inspire therapy is an adjustable, titratable medical device that decreases the burden of moderate to severe OSA in those patients unable to get consistent benefit from CPAP. In addition, Inspire has been the subject of over 20 peer-reviewed articles.
“We are pleased to reach this important milestone in the adoption of Inspire,” said Tim Herbert, President and CEO of Inspire Medical Systems, Inc. “We expect that the growing number of positive clinical experiences with our therapy and the recently announced extended data from the STAR Trial with outcomes through 36 and 42 months will drive further demand for our therapy. The increasing demand for Inspire is driving significant revenue growth, as our year-to-date sales in 2016 are now higher than our full-year revenues for 2015.”
OSA is a large market that affects approximately 18 million people in the U.S. It is important for affected individuals to identify an effective treatment option, as untreated OSA can have devastating effects on heart and brain health, impair quality of life and increase accident risk.
Inspire therapy is currently available in more than 100 leading medical centers across the U.S. and Europe as a result of continued excellent clinical data and growing physician experience.
About Inspire Therapy
Inspire Upper Airway Stimulation therapy is an FDA-approved treatment for some people with moderate to severe OSA who are unable to tolerate or get relief from continuous positive airway pressure (CPAP). In contrast to CPAP, Inspire therapy is implanted inside the body and works with a patient's natural breathing process. Controlled by the patient sleep remote, the system includes a breathing sensor and a stimulation lead powered by a small battery. During sleep, the system senses breathing patterns and delivers mild stimulation to the tongue and other soft tissues of the throat to keep the airway open. Inspire therapy is currently available at more than 100 leading medical centers across the United States and Europe.
About Inspire Medical Systems, Inc.
Inspire Medical Systems, Inc., based in Minneapolis, Minn., was incorporated with the purpose of developing a safe, effective and well-accepted therapy to help those OSA patients who are unable to tolerate or get relief from CPAP. Inspire therapy is the world’s first implantable FDA-approved neurostimulation system for the treatment of OSA. The Company is privately held and investors include Aperture Venture Partners, GDN Holdings, Johnson & Johnson, Kleiner Perkins Caufield & Byers, Medtronic, OrbiMed Advisors, Synergy Life Science Partners, TGap Ventures and US Venture Partners.
For more information, visit www.InspireSleep.com.
Source:Inspire Medical Systems, Inc.