Medtronic spinout Inspire Medical Systems, the developer of a neurostimulation device for sleep apnea, has targeted $86.3m for its IPO.
US-based sleep apnea therapy developer Inspire Medical Systems has filed for an $86.3m initial public offering that will enable medical device producer Medtronic and pharmaceutical group Johnson and Johnson to exit.
Spun out of Medtronic on 2007, Inspire has created a neurostimulation device that treats sleep apnea, a condition where a patient’s breathing is inhibited while they are asleep, by providing hypoglossal nerve stimulation in order to keep a user’s airways open.
The IPO proceeds will fund sales and…
