InspireMD is a medical device company focused on treating carotid artery disease, a condition where plaque buildup in the carotid arteries raises stroke risk. InspireMD's core product is the CGuard carotid stent system, built around its proprietary MicroNet technology — a fine polyethylene mesh woven over a self-expanding nitinol stent. The mesh is designed to trap plaque debris during and after a stenting procedure, reducing the risk of stroke. InspireMD sells two versions: CGuard EPS, sold through distributors in over 30 countries, and CGuard Prime, a next-generation version with a redesigned deployment mechanism that received FDA PMA approval in June 2025 and is sold directly in the U.S. InspireMD sells stents on a per-unit basis. International distributors buy at fixed prices and handle local sales and marketing. In the U.S., InspireMD sells directly through a salesforce of roughly 30 personnel at higher average selling prices, which management expects will expand margins as U.S. sales grow as a share of the mix. InspireMD is not yet profitable, with operating expenses driven primarily by building out U.S. commercial infrastructure. InspireMD's growth strategy centers on ramping U.S. sales in carotid artery stenting, expanding into transcarotid artery revascularization procedures through two ongoing pivotal trials, and pursuing new indications such as acute ischemic stroke with tandem lesions.
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