Inspire Medical sees significant growth in Q4
By HME News Staff
Updated 12:03 PM CST, Tue January 10, 2023
MINNEAPOLIS – Inspire Medical, the maker of an FDA-approved neurostimulation device to treat obstructive sleep apnea, expects revenue of $137.5 million to $137.9 million for the fourth quarter of 2022, about a 76% increase year over year. It expects revenue for the full year to be $407.5 million to $407.9 million, about a 75% increase compared to 2021. “We are very pleased with our strong preliminary revenue performance in the fourth quarter primarily driven by higher utilization at existing centers,” said Tim Herbert, President and Chief Executive Officer of Inspire Medical Systems. "As we continue to activate new centers, we remain highly focused on consistent patient outcomes and enhanced center efficiencies which are the core of therapy adoption to meet robust demand.” Inspire activated 61 new centers in the fourth quarter, for a total of 905 centers in the U.S. implanting the devices. Additionally, the company created 16 new sales territories in the fourth quarter, for a total of 225 in the U.S. Inspire plans to report its full financial results on Feb. 7.
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