Inspire Medical raises $37M for sleep apnea device

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Thursday, November 17, 2016

MAPLE GROVE, Minn. – Inspire Medical Systems has accumulated $37.5 million in venture funding as it prepares to increase sales of its pacemaker-sized, implantable device used to treat sleep apnea. New York-based investor Amazak Health led the round of funding, CEO Tim Herbert told the Minneapolis/St. Paul Business Journal. Previous investors, including OrbiMed Advisors and Medtronic, also participated in the round. The company received $12.5 million a few weeks ago and will get the rest next year. In 2014, the Food and Drug Administration approved the device, which uses electrical pulses to prevent the tongue from collapsing and blocking a patient’s airway, for sale in the U.S. Inspire generated about $8 million in revenues last year and expects sales of $16 million in 2016. It has 80 employees.