New IPO: Inspire Medical Systems

Inspire Medical Systems, Inc. (INSP)

Sleep apnea is a condition that affects a growing number of Americans each year. Traditionally, the treatment for sleep apnea has been a so-called Continuous Positive Airway Pressure (CPAP) device. It’s basically a giant face mask that you wear while sleeping to help keep airways open. They are cumbersome, hot and incredibly uncomfortable. Because of that, many patients with sleep apnea forgo treatment and skip wearing the device. This leads to other medical issues.

That’s where Inspire Medical Systems, Inc. (NYSE:INSP) comes in.

Originally a spin-off from device giant Medtronic (NYSE:MDT), INSP makes an implantable device that delivers mild stimulation to the hypoglossal nerve. This nerve controls the movement of your tongue and other key airway muscles. By stimulating these muscles, the airway remains open during sleep and apnea is controlled. It basically builds off of MDT’s expertise in pacemakers and other similar heart devices. Sales of Inspires device have continued to grow and it’s the only device of its kind.

With a huge market for sleep apnea patients — including rising incidences due to obesity as well as in children — INSP has a long runway to grow its already robust sales and eventually profits. Moreover, there’s a good chance that Inspire becomes a buyout candidate as sales of its device catch on.

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