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 (“OSA”), today announced that Inspire therapy will be integrated into the German hospital reimbursement system (“G-DRG”), effective January 1, 2021
MINNEAPOLIS, Nov. 09, 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 (“OSA”), today announced that Inspire therapy will be integrated into the German hospital reimbursement system (“G-DRG”), effective January 1, 2021. Germany’s Institute for the Hospital Remuneration System (“InEK”) recently published the list of treatment methods, including Inspire therapy, to be included in the regular DRG catalog.
Since January 2016, Germany’s reimbursement for the Inspire procedure has been provided through the NUB process for new diagnostic and treatment procedures. The NUB process allows hospitals to submit requests for reimbursement of “new and innovative treatment methods” that have not yet obtained a G-DRG code. The NUB process requires hospitals to submit applications annually to obtain approval to perform the Inspire procedure. While Inspire therapy has received the top NUB1 rating for each of the last five years, this remains an interim step in establishing formal reimbursement in Germany.
“We are very excited to announce the InEK decision, as it will secure long-term reimbursement for Inspire therapy in Germany, which we expect will improve access for patients with untreated OSA in that country. The decision to include Inspire in the DRG catalog demonstrates that our procedure has become part of routine clinical practice in Germany,” commented Inspire President and CEO Timothy P. Herbert. “Our focus remains on ensuring high-quality patient care with trained centers in Germany.”
Andreas Henke, Inspire’s Senior Vice President for Europe, added: “The decision of the InEK is based on the excellent work of the surgeons and hospitals in Germany who have treated patients with Inspire therapy over the past five years. Their experience with Inspire therapy during this time has shown that a new treatment procedure can be introduced safely and effectively from clinical development to routine care. In fact, the data generated to date from commercial Inspire therapy cases in Germany has demonstrated that our technology has delivered treatment outcomes that are the same or better than the results achieved in controlled studies.”
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 the expected integration of Inspire therapy into the G-DRG. 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. 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 September 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.
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LifeSci Advisors
646-597-6989
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