MINNEAPOLIS, Jan. 16, 2019 (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”), announced today that Horizon Blue Cross Blue Shield of New Jersey (“Horizon BCBSNJ”) has
issued a positive coverage policy of Inspire therapy. This is the second coverage policy issued by a Blue Cross Blue Shield
Association (“BCBSA”) healthcare plan following BCBSA Evidence Street’s January 7, 2019 report, which stated that there is
sufficient evidence to determine that Inspire therapy results in a meaningful improvement in net health outcomes for patients
meeting specified criteria.
Horizon BCBSNJ, an independent licensee of BCBSA, is the state of New Jersey’s largest insurer and covers
approximately 3.8 million members. The Horizon BCBSNJ policy became effective January 15, 2019. This Horizon BCBSNJ also includes
coverage for adolescents who have Down’s syndrome. It is important to note that this indication is not yet approved by the Food and
Drug Administration (FDA).
“The Inspire team is actively working with Blue Cross Blue Shield’s regional plans and are encouraged that
positive coverage policies are being implemented following the Evidence Street report summary,” said Tim Herbert, President and
Chief Executive Officer of Inspire Medical Systems. “The development of these coverage policies will improve access to Inspire
therapy and further accelerate its adoption in the United States.”
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 potential impact of BCBS’s positive assessment, future positive insurance coverage and
adoption of Inspire therapy. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’
‘‘should,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘anticipate,’’ ‘‘could,’’ “future,” “outlook,” ‘‘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. Such risks and uncertainties include,
among others: estimates regarding the annual total addressable market for our Inspire therapy in the U.S. and our market
opportunity outside the U.S., future results of operations, financial position, research and development costs, capital
requirements and our needs for additional financing; commercial success and market acceptance of our Inspire therapy; our ability
to achieve and maintain adequate levels of coverage or reimbursement for our Inspire system or any future products we may seek to
commercialize; competitive companies and technologies in our industry; our ability to expand our indications and develop and
commercialize additional products and enhancements to our Inspire system; our business model and strategic plans for our products,
technologies and business, including our implementation thereof; our ability to accurately forecast customer demand for our Inspire
system and manage our inventory; our ability to expand, manage and maintain our direct sales and marketing organization, and to
market and sell our Inspire system in markets outside of the U.S.; our ability to increase the number of active medical centers
implanting Inspire therapy; our ability to hire and retain our senior management and other highly qualified personnel; our ability
to commercialize or obtain regulatory approvals for our Inspire therapy and system, or the effect of delays in commercializing or
obtaining regulatory approvals; FDA or other U.S. or foreign regulatory actions affecting us or the healthcare industry generally,
including healthcare reform measures in the U.S. and international markets; and our ability to establish and maintain intellectual
property protection for our Inspire therapy and system or avoid claims of infringement. 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
the captions “Risk Factors” and "Management’s Discussion and Analysis of Financial Condition and Results of Operations“ in our
final prospectus filed under Rule 424(b) on December 7, 2018, 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. 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.
Investor and Media Contact: Bob Yedid LifeSci Advisors bob@lifesciadvisors.com 646-597-6989
