Inspire Medical Systems, Inc. Announces Countrywide Reimbursement in Belgium
MINNEAPOLIS, March 09, 2023 (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 that it has received countrywide reimbursement approval in Belgium, effective immediately, at rates consistent with other countries around the world.
“The healthcare team at Antwerp University Hospital (UZA) in Antwerp, Belgium has long been instrumental in the development of Inspire therapy. In fact, the first Inspire implant was performed in Antwerp in 1996 during the early feasibility development phase, and the first implant as an Inspire Medical Systems’ product was performed in Antwerp in 2009,” said Tim Herbert, President and Chief Executive Officer of Inspire. “The research team, including both the ENT surgeons and the sleep specialists, have contributed tremendously through research and clinical evaluations, and countrywide reimbursement is the next pivotal milestone for OSA patients in Belgium.”
Inspire therapy received European Conformity Marking for commercialization in Europe in 2010. Since then, procedures have been performed at UZA with funding through internal hospital budgets. This recent reimbursement approval provides a pathway to open additional Inspire implanting centers in Belgium, under the guidance of UZA, while also expanding access to care.
“We are excited to be able to expand the offering of the clinically proven Inspire treatment option for moderate to severe OSA to patients and physicians throughout Belgium,” said Olivier Vandeveken, Professor and Chair of the Department of Otorhinolaryngology, Head and Neck Surgery at UZA in Antwerpen, Belgium. “At UZA, we have been focused on the research and clinical evaluation of Inspire therapy for over 25 years, including introducing Inspire therapy as a viable therapy option for OSA patients, and this approval further advances the availability of therapy throughout the country.”
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.
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 Belgium. 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, 2022 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.
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