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Inspire Medical Systems' (INSP) CEO Tim Herbert on Q1 2020 Results - Earnings Call Transcript

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Inspire Medical Systems, Inc. (NYSE:INSP) Q1 2020 Earnings Conference Call May 5, 2020 5:00 PM ET

Company Participants

Bob Yedid – LifeSci Advisors

Tim Herbert – President and Chief Executive Officer

Rick Buchholz – Chief Financial Officer

Conference Call Participants

Jon Block – Stifel

Lei Huang – Wells Fargo

Chris Pasquale – Guggenheim

Richard Newitter – SVB Leerink

Matthew O’Brien – Piper Jaffray

Mike Ott – Oppenheimer

Ravi Misra – Berenberg Capital Markets

Kyle Bauser – Dougherty & Company


Greetings, and welcome to Inspire Medical Systems’ First Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. [Operator instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Bob Yedid with LifeSci Advisors. Thank you. You may begin.

Bob Yedid

Doug, thank you, and thank you all for participating in today’s call. Joining me are; Tim Herbert, President and Chief Executive Officer and Rick Buchholz, Chief Financial Officer. Earlier today, Inspire released financial results for the first quarter ended March 31, 2020. A copy of the press release is available on the company’s website.

I’d like to remind you that on this call, management will make forward-looking statements within the meaning of the federal securities laws. All forward-looking statements including without limitation regarding the impact of COVID-19 on our business operations, financial results and financial condition, investments in our business, our expectation that the vast majority of postponed Inspire therapy procedures will be rescheduled, full year 2020 financial and operational outlook, future positive insurance coverage of Inspire therapy and improvements in market access based on our current estimates and various assumptions. These statements involve material risks and uncertainties that could cause actual results or events to materially differ. Accordingly, you should not place undue reliance on these statements.

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Comments (1)

While INSP worries lots about growing its market and making a profit (which seems highly unlikely ever), the bigger issue is the safety of the complicated operation. This is not “outpatient” surgery, as INSP says. I underwent the surgery last summer. Shortly after the device was implanted, I came close to dying. I was on a respirator for a week and in the ICU for three weeks. INSP’s literature shows lots of smiling faces. They clearly haven’t had the device implanted. This surgery was the worst medical experience in my 72 years—which, incidentally, suggests that I never should have been a candidate. When my surgeon questioned INSP about whether I was a good candidate, the company enthusiastically said yes—and sold one more device, almost at the cost of my life. I have heard nothing from the company despite telling my story. I also have reason to question whether the company reported my case as an “adverse effect,” the understatement of the year.
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