Inspire Medical Systems, Inc. Announces Appointment of Two New Independent Directors to its Board

Rhea-AI Summary

Inspire Medical Systems has appointed two new independent directors, Cynthia Burks and Charisse Sparks, M.D., to its board effective July 28, 2022. Burks, former Chief Human Resources Officer at Genentech, brings extensive expertise in human capital strategy, while Dr. Sparks, Chief Medical Officer of AppliedVR, offers significant experience in medical device R&D and regulatory affairs. These additions aim to strengthen Inspire's leadership and support its mission in developing innovative solutions for obstructive sleep apnea.

Positive

• Appointment of Cynthia Burks enhances human capital strategy expertise.
• Dr. Charisse Sparks adds valuable medical device industry experience.

Negative

• None.

Company adds further expertise in human capital strategy and medical device industry R&D, regulatory affairs and commercialization

MINNEAPOLIS, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE: INSP) (Inspire), a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea, today announced the appointments of Cynthia Burks and Charisse Sparks, M.D., as independent directors to its Board, effective July 28, 2022.

Cynthia Burks is the former Chief Human Resources Officer for Genentech, Inc., a member of the Roche Group. In this role, Ms. Burks led the company’s efforts to attract, develop and retain employees at Genentech, which has over 13,500 employees. An innovative leader, she brings strong analytical skills, and expertise in all areas of human capital strategy, including talent management, culture, diversity, equity, inclusion, and organizational design. Ms. Burks is an observer on the board of directors of the publicly traded WD-40 Company and a director on the board of directors of Torch, a privately held company offering integrated coaching, mentoring and learning software, as well as serving on two non-profit organizations, Juma Ventures and Summer Search.

Charisse Y. Sparks, M.D., is the Chief Medical Officer of AppliedVR, Inc., a privately-held company pioneering virtual reality-based treatments that address the complexity of pain and other conditions, where she is responsible for leading the company’s medical, clinical, regulatory and quality affairs functions. Previously, Dr. Sparks was Vice President of DePuy Synthes, the Orthopaedics Company of Johnson and Johnson. While at DePuy Synthes, she was an integral leader in Johnson & Johnson's “Our Race to Health Equity,” an initiative which aims to eradicate racial and social injustice as a public health threat by seeking to eliminate health inequities for people of color. Dr. Sparks has experience in R&D, Regulatory Affairs, Quality, Commercial, and Health Economics & Market Access. She has led evidence-generation strategies for global market access of orthopedic and craniomaxillofacial (CMF) products. As an orthopedic surgeon, she was the third Black female, fellowship-trained Orthopaedic Trauma Surgeon in the country, completing her training at Harvard Medical School.

"The Inspire team is thrilled to add these two very talented individuals to our Board," said Tim Herbert, President and Chief Executive Officer of Inspire Medical Systems. “Cynthia’s extensive experience in all critical aspects of human resources will be invaluable as our organization continues to grow. Further, Charisse’s broad medical device industry expertise further strengthens our Board as we continue to enhance the Inspire therapy platform with a focus on delivering strong and consistent patient outcomes.”

Following the appointments of Ms. Burks and Dr. Sparks, the Inspire Board consists of 11 directors, 10 of whom are independent. These new appointments reflect the Board’s comprehensive and ongoing approach to board succession planning.

About Inspire Medical Systems

Inspire is a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea. Inspire’s proprietary Inspire therapy is the first and only FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

For additional information about Inspire, please visit www.inspiresleep.com. 

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘anticipate,’’ ‘‘could,’’ “future,” “outlook,” “guidance,” ‘‘intend,’’ ‘‘target,’’ ‘‘project,’’ ‘‘contemplate,’’ ‘‘believe,’’ ‘‘estimate,’’ ‘‘predict,’’ ‘‘potential,’’ ‘‘continue,’’ or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words.

These forward-looking statements are based on management’s current expectations and involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including those found under the captions “Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations“ in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as updated in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, and as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and the Investors page of our website at www.inspiresleep.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, unless required by applicable law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investor & Media Contact:
Bob Yedid
LifeSci Advisors
646-597-6989
Bob@LifeSciAdvisors.com

FAQ

What are the qualifications of the new directors Cynthia Burks and Charisse Sparks at Inspire Medical Systems?

Cynthia Burks has extensive HR experience from her tenure at Genentech, focusing on talent management and organizational design. Charisse Sparks, M.D., has a strong medical device background and previously led efforts at Johnson & Johnson in health equity.

How many directors are on Inspire's board following the recent appointments?

After the appointments of Burks and Dr. Sparks, Inspire Medical Systems' board consists of 11 directors, 10 of whom are independent.

What is the significance of these new board appointments for Inspire Medical Systems?

The new board appointments are aimed at strengthening Inspire’s leadership in human resources and medical device strategy, aligning with the company’s focus on enhancing its therapy platform for obstructive sleep apnea.