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MarketScreener Homepage  >  Equities  >  Nyse  >  Inspire Medical Systems, Inc.    INSP

INSPIRE MEDICAL SYSTEMS, INC.

(INSP)
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Inspire Medical Systems, Inc. Announces Humana Coverage for Inspire Therapy

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09/01/2020 | 07:01am EDT

MINNEAPOLIS, Sept. 01, 2020 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE: INSP) ("Inspire”), a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea, announced today that Humana Inc. (“Humana”), one of the leading health plans in the U.S., will provide coverage for the Company’s Inspire therapy, effective August 27, 2020. Humana is a national healthcare company that provides health insurance coverage to approximately 16.7 million individuals in the U.S.

“We are thrilled to receive this positive coverage decision from Humana. Commercial health plans continue to update their coverage policies to include Inspire therapy, providing an increasing number of patients and physicians with access to our safe and effective therapy,” said Tim Herbert, President and Chief Executive Officer of Inspire. “With the addition of Humana, we now have 59 coverage policies, representing over 207 million lives, that cover Inspire therapy.” 

The Humana coverage decision includes the expanded age range approved by the U.S. Food and Drug Administration in April 2020 to include patients 18 years and older. In addition to the 59 commercial coverage policies, Inspire therapy also has Medicare coverage across the entire U.S. 

About Inspire Medical Systems

Inspire is a medical technology company focused on the development and commercialization of innovative and 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.

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, statements regarding further updates to commercial health plans’ coverage policies to include Inspire therapy and patients’ and physicians’ increased access to Inspire therapy.  In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘anticipate,’’ ‘‘could,’’ “future,” “outlook,” “guidance,” ‘‘intend,’’ ‘‘target,’’ ‘‘project,’’ ‘‘contemplate,’’ ‘‘believe,’’ ‘‘estimate,’’ ‘‘predict,’’ ‘‘potential,’’ ‘‘continue,’’ or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words.

These forward-looking statements are based on management’s current expectations and involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, estimates regarding the annual total addressable market for our Inspire therapy in the U.S. and our market opportunity outside the U.S.; future results of operations, financial position, research and development costs, capital requirements and our needs for additional financing; commercial success and market acceptance of our Inspire therapy; the impact of the ongoing and global COVID-19 pandemic; and general and international economic, political, and other risks, including currency and stock market fluctuations and the uncertain economic environment. Other important factors that could cause actual results, performance or achievements to differ materially from those contemplated in this press release can be found 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, 2019, as updated in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, 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. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, unless required by applicable law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investor & Media Contact:
Bob Yedid
LifeSci Advisors
646-597-6989
Bob@LifeSciAdvisors.com

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© GlobeNewswire 2020

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Financials (USD)
Sales 2020 90,2 M - -
Net income 2020 -72,9 M - -
Net cash 2020 161 M - -
P/E ratio 2020 -43,8x
Yield 2020 -
Capitalization 3 290 M 3 290 M -
EV / Sales 2020 34,7x
EV / Sales 2021 21,8x
Nbr of Employees 239
Free-Float 96,2%
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 127,31 $
Last Close Price 122,76 $
Spread / Highest target 22,2%
Spread / Average Target 3,70%
Spread / Lowest Target -59,3%
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NameTitle
Timothy P. Herbert President, CEO, Secretary & Director
Marilyn Carlson Nelson Chairman
Philip J. Ebeling Chief Operating Officer
Richard John Buchholz Chief Financial Officer
Quan Ni Vice President-Research
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