Inspire Medical Systems, Inc. Announces Appointment of Veteran Consumer Marketing Executive Georgia Garinois-Melenikiotou to its Board of Directors

Rhea-AI Summary

Inspire Medical Systems (NYSE: INSP) announced the appointment of Georgia Garinois-Melenikiotou to its Board of Directors, enhancing its leadership with her extensive experience in global consumer marketing and corporate management. Mudit Jain, a founding partner and board member since 2009, will retire at the end of July 2020. CEO Tim Herbert emphasized the importance of diverse expertise for future growth, highlighting Ms. Garinois-Melenikiotou's potential contributions to innovative marketing strategies for Inspire's FDA-approved neurostimulation therapy targeting obstructive sleep apnea.

Positive

• Appointment of Georgia Garinois-Melenikiotou to the Board of Directors enhances leadership expertise.
• Her background in global consumer marketing may improve Inspire's marketing strategies.

Negative

• Retirement of Mudit Jain could lead to concerns regarding continuity and experience within the board.

MINNEAPOLIS, July 09, 2020 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE: INSP) (“Inspire”), a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea (“OSA”), announced today the appointment of Georgia Garinois-Melenikiotou to the Board of Directors.  Ms. Garinois-Melenikiotou brings a wealth of expertise in global consumer marketing, as well as broad corporate management experience through various senior level roles at multinational companies, including Estée Lauder and Johnson & Johnson.

Inspire also announced that Mudit Jain, Founding General Partner of Strategic Healthcare Investment Partners and General Partner/Managing Director at Synergy Life Sciences Partners, will be retiring from the Inspire board at the end of July 2020.  Mr. Jain joined the Inspire board in May 2009 following Synergy serving as the lead investor in the Company’s Series B financing.     

“As our business evolves and we continue to focus on long-term growth, broadening the expertise on our board is necessary to guide and optimize our corporate strategy,” stated Tim Herbert, Inspire President and CEO.  “Georgia has unique experience in global consumer marketing and business operations that will translate effectively into today’s medical technology market.  We look forward to her contributions to our board as we continue to identify innovative marketing strategies for our Inspire therapy.  I would also like to extend my sincere thanks and appreciation to Mudit for his critical support during Inspire’s formative years.  His counsel and expertise helped lay the groundwork for the outstanding business we have built today.”

Most recently, Ms. Garinois-Melenikiotou led Estée Lauder's global marketing function as Executive Vice President for Corporate Marketing where she was a member of Estee Lauder’s Executive Leadership team.  Ms. Garinois-Melenikiotou reported directly to the CEO and led the company’s consumer insights, analytics, digital marketing, media, global customer care, local relevancy, and brand equity development centers of excellence across the world, and was instrumental in operationalizing the company’s digital-first strategy and plan.  Previously, she served in various senior marketing and management roles with increasing responsibility over a 26-year period at Johnson & Johnson and helped establish the company’s global beauty business.  As President of Beauty Global Business Unit Strategy and New Growth, Ms. Garinois-Melenikiotou was responsible for developing and implementing the unit’s growth strategy and led global growth initiatives in priority emerging markets, new platforms, new beauty categories, and new channels.

Ms. Garinois-Melenikiotou earned an MBA from the Massachusetts Institute of Technology.  She received her Bachelor’s and Master’s degrees in Mechanical Engineering from the National Technical Institute of Athens.

About Inspire Medical Systems
Inspire is a medical technology company focused on the development and commercialization of innovative and 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, including, without limitation, statements regarding the Company’s business and strategy. 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. Important factors that could cause actual results, performance or achievements to differ materially from those contemplated in this press release can be 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, 2019, as updated in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, 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 and Media Contact:
Bob Yedid
LifeSci Advisors
bob@lifesciadvisors.com
646-597-6989

FAQ

Who is Georgia Garinois-Melenikiotou and what is her role at Inspire Medical Systems?

Georgia Garinois-Melenikiotou is newly appointed to the Board of Directors at Inspire Medical Systems, bringing expertise in global consumer marketing.

What does the retirement of Mudit Jain mean for Inspire Medical Systems?

Mudit Jain's retirement from the board may raise concerns about continuity and the loss of his extensive experience at Inspire.

When did Inspire Medical Systems announce the leadership changes?

The leadership changes were announced on July 9, 2020.

How might the new board member impact Inspire Medical Systems' strategy?

Georgia Garinois-Melenikiotou's experience in marketing could lead to innovative strategies for Inspire's product offerings.

What is Inspire Medical Systems known for?

Inspire Medical Systems is known for its FDA-approved neurostimulation therapy for obstructive sleep apnea.