Inspire Medical Systems, Inc. Announces Investments in

0

MINNEAPOLIS, April 27, 2022 (GLOBE NEWSWIRE) — Inspire Medical Systems, Inc. (NYSE: INSP) (“Inspire”), a medical technology company focused on developing and commercializing innovative, minimally invasive solutions for patients sufferers of sleep apnea (OSA), today announced equity investments in two private companies, EnsoData, Inc. in Madison, WI, and Ognomy Inc. in Buffalo, NY.

EnsoData increases the capacity and efficiency of sleep laboratories with its FDA-cleared sleep study analytics platform, EnsoSleep. Using waveform artificial intelligence (AI), EnsoSleep automates polysomnography (PSG) and home sleep testing scoring and analysis, freeing up time for the clinician to focus on patients. Additionally, EnsoSleep analyzes sleep test waveform data to provide accurate sleep staging and event detection for clinician review. The technology integrates with existing sleep lab diagnostic software and devices, automatically analyzes and scores sleep studies, and requires no changes to existing clinical workflows. EnsoSleep is currently available at over 500 sleep centers across the United States and analyzes over 30,000 sleep studies per month. Inspire’s minority investment in EnsoData is $10 million.

Ognomy was designed by sleep physicians to increase access to sleep apnea care by moving diagnosis and treatment from the clinic to patients’ homes. The Ognomy app provides the interface between the patient and a sleep physician, while the Ognomy web portal allows clinicians to view and manage patients from anywhere. Following a digital consultation, the doctor can order a home sleep study to be sent directly to the patient. Typically, the patient can receive a full sleep assessment and clinical follow-up within just a few days. Inspire has provided seed funding to Ognomy to further develop its platform and launch a pilot program to support its integration with the Inspire Advisor Care program starting in May 2022.

Over 20 million Americans suffer from OSA, and many go undiagnosed or untreated due to limited capacity for specialized sleep care. Convenient access to sleep specialists through Ognomy and efficient and accurate scoring from EnsoData both play important and emerging roles in increasing sleep practice capacity to meet this growing health challenge.

“These partnerships underscore our focus on developing a digital platform to help patients find an effective solution for their OSA, such as Inspire Therapy,” said Tim Herbert, President and CEO of Inspire Medical Systems. . “As we expand our advisor care program, we understand that long wait times for sleep studies present a challenge for many patients. We need innovative solutions to help patients quickly, easily assess and accurately the severity of their OSA and subsequently connect appropriate patients with a qualified healthcare provider to consider treatment options, including Inspire therapy.These investments will allow EnsoData and Ognomy to develop faster their respective businesses, which will benefit Inspire’s ability to more broadly exploit their technologies.

“Using AI technology to help sleep physicians rapidly collect and analyze sleep data across the patient care journey improves patient experience and increases physician efficiency, adding thus capacity to their practices,” added Herbert. “Finally, these tools provide clinicians with insight into patients diagnosed with moderate to severe OSA who are not currently receiving adequate treatment, thereby identifying potential patients in need of therapeutic adjustment or alternatives, such as Inspire.”

About Inspire Medical Systems

Inspire is a medical technology company focused on developing and commercializing innovative, minimally invasive solutions for patients with obstructive sleep apnea. Inspire’s proprietary Inspire Therapy is the first and only FDA-cleared neurostimulation technology that provides safe and effective treatment for moderate to severe obstructive sleep apnea.

For more information on Inspire, please visit www.inspiresleep.com.

About EnsoData

EnsoData is a Waveform AI healthcare technology company that performs complex and time-consuming data interpretation and analysis. Our FDA-cleared, AI-assisted sleep scoring solution, EnsoSleep, automates study scoring and reduces time spent by RPSGTs on scoring. This time saving offers clinicians the opportunity to expand patient care, improve outcomes and treat more patients. Additional EnsoSleep products include EnsoViewer, a web-based software for reviewing, editing, and reporting FDA-cleared sleep studies, and EnsoTST, which measures total sleep time with more data. commonly available found in HSATs.

For more information on EnsoData, please visit www.ensodata.com.

For more information about Ognomy, please visit www.ognomy.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 fact are forward-looking statements, including those relating to the expected benefits of investments. In some cases, you can identify forward-looking statements by words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “could”, ” future,” “outlook,” 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 forward-looking statements. . These risks and uncertainties include, among other things, estimates regarding the total annual addressable market for our Inspire therapy in the United States and our market opportunities outside of the United States; future operating results, financial condition, research and development costs, capital requirements and our need for additional financing; the commercial success and market acceptance of our Inspire therapy; the impact of the current and global COVID-19 pandemic; general and international economic, political and other risks, including currency and stock market fluctuations and the uncertain economic environment; our ability to achieve and maintain adequate levels of coverage or reimbursement for our Inspire system or any future products we may seek to market; competitive companies and technologies in our industry; our ability to improve our Inspire system, expand our indications and develop and commercialize additional products; our business model and strategic plans for our products, technologies and businesses, including our implementation thereof; our ability to accurately forecast customer demand for our Inspire system and manage our inventory; our dependence on third-party suppliers, contractors and shipping carriers; consolidation in the health sector; our ability to develop, manage and maintain our direct sales and marketing organization, and to market and sell our Inspire system in markets outside of the United States; risks associated with international operations; our ability to manage our growth; our ability to increase the number of active medical centers implementing Inspire therapy; our ability to hire and retain our senior executives and other highly qualified personnel; risk of product liability claims; information technology and cybersecurity risks; risk of damage or disruption to our facilities; our ability to commercialize or obtain regulatory approvals for our therapy and our Inspire system, or the effect of delays in commercializing or obtaining regulatory approvals; FDA or other U.S. or foreign regulatory action affecting us or the healthcare industry generally, including healthcare reform actions in the U.S. and international markets; and the timing or likelihood of regulatory filings and approvals. 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 “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 year ended December 31, 2021 to be filed with the SEC, and that such factors may be updated from time to time in our other filings with the SEC, which are accessible at SEC 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. These forward-looking statements represent management’s estimates as of the date of this press release. Although we may choose to update these forward-looking statements at some time in the future, except as required by applicable law, we disclaim any obligation to do so, even if subsequent events change our views. Thus, it should not be assumed that our silence over time means that actual events will materialize, as expressed or implied in these forward-looking statements. These forward-looking statements should not be taken to represent our views as of any date subsequent to the date of this press release.

Investor and media contact:
Bob Yedid
LifeSci Advisors
646-597-6989
[email protected]

Share.

Comments are closed.