Inspire Medical Shares Rise on UnitedHealthcare Coverage
July 08 2019 - 11:37AM
Dow Jones News
By Colin Kellaher
Shares of Inspire Medical Systems Inc. (INSP) rose more than 5%
on Monday after the medical-technology company said health insurer
UnitedHealthcare will provide coverage for the company's therapy,
effective Aug. 1.
Inspire said UnitedHealthcare, a unit of UnitedHealth Group Inc.
(UNH), considers the company's hypoglossal nerve neurostimulation
device to be medically necessary for the treatment of moderate to
severe obstructive sleep apnea when specified criteria are met.
The Golden Valley, Minn., company said it now has 35 coverage
policies representing about 125 million members that cover the
Inspire therapy, compared with 3 million members a year ago.
Analysts at SVB Leerink said the UnitedHealthcare decision is "a
big incremental positive" for Inspire, adding that they believe the
company "is nearing a reimbursement 'tipping point' that should
lead to accelerated adoption of its technology."
Shares of Inspire were recently up 6.9% to $68.28.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 08, 2019 11:22 ET (15:22 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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