Inspire Medical Systems Inc, a medical technology company focused on the development of solutions for patients with obstructive sleep apnea (OSA), reported first-quarter business highlights, showcasing progress for its OSA therapy.
During the quarter, Inspire activated 68 new centers in the US, bringing the total to 973 US medical centers providing Inspire therapy. Additionally, the company achieved two important milestones, according to Tim Herbert, president and CEO of Inspire, in a news release.
“The first was the FDA approval for the pediatric Down syndrome population for patients who are at least 13 years of age. The research has been ongoing for several years, and many third-party payers, including Medicare, provide coverage for this population, improving a family’s access to care,” says Herbert in the release. “The second was countrywide reimbursement approval in Belgium at rates consistent with other countries around the world, and the team is already expanding patients’ access to care by opening additional centers and training healthcare providers.”
Given the positive trends during the first quarter, Inspire is increasing its full-year 2023 revenue guidance to between $580 million to $590 million, which would represent growth of 42% to 45% over full-year 2022 revenue of $407.9 million. This compares to the prior revenue guidance of $560 million to $570 million.
Inspire is also maintaining its guidance relating to the opening of new US medical centers of 52 to 56 per quarter for the remainder of 2023.