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Inari Medical, Inc. (NARI) is a medical device company specializing in innovative, minimally invasive solutions for venous and vascular diseases. The company develops and commercializes catheter-based mechanical thrombectomy devices and accessories designed to treat conditions such as venous thromboembolism (VTE), chronic venous disease, and critical limb-threatening ischemia (CLTI). NARI's mission is to improve patient outcomes by establishing its treatments as the standard of care in these underserved medical areas.
- Venous Thromboembolism (VTE) - Provides solutions for treating deep vein thrombosis (DVT) and pulmonary embolism (PE) using catheter-based mechanical thrombectomy devices like the FlowTriever and ClotTriever systems.
- Emerging Therapies - Addresses chronic venous disease, critical limb-threatening ischemia (CLTI), acute limb ischemia (ALI), dialysis access management, and arterial thromboembolism with innovative devices such as the LimFlow System and VenaCore.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Andrew Hykes ExecutiveBoard | CEO, President, Director | None | Andrew Hykes joined NARI in September 2017 as Chief Commercial Officer, later becoming COO, and was appointed CEO and President in January 2023. | View Report → |
Kevin Strange Executive | CFO | None | Kevin Strange became CFO on October 1, 2024, after joining NARI in 2020 and serving in various strategic and financial roles. | |
Thomas Tu, M.D. Executive | Chief Medical Officer | CEO and President of World Health Initiative | Dr. Tu has been CMO since July 2019, leading medical affairs and launching clinical trials. | |
Catherine Szyman Board | Director | Corporate VP at Edwards Lifesciences Corp.; Board Member at Outset Medical, Inc. | Catherine Szyman has been a director since November 2019, with leadership experience in medical devices. | |
Cynthia Lucchese Board | Director | Board Member at The Cooper Companies, BVI Medical, Relievant Medsystems, Indiana University Board of Trustees | Cynthia Lucchese joined the Board in November 2019, known for her expertise in finance and strategy. | |
Dana G. Mead, Jr. Board | Director | Board Member at Inspire Medical Systems, Inc.; Board Chair at Pulmonx Corporation | Dana G. Mead, Jr. has been a director since October 2021, with extensive experience in the medical device industry. | |
Donald Milder Board | Chair of the Board | Managing Director at Versant Venture Management, Board Member of private companies | Donald Milder has been on the Board since September 2011 and Chair since December 2019, with extensive venture capital experience. | |
Rebecca Chambers Board | Director | CFO and EVP of Veracyte, Inc.; Board Member at Outset Medical, Inc. | Rebecca Chambers joined the Board in June 2021, bringing healthcare leadership and financial expertise. | |
Robert Warner Board | Director | Board Member at RXSight, Inc., i-Lumen Scientific, EyeYon Medical, GRACE | Robert Warner has been a director since March 2022, with a background in leadership roles at Alcon. |
- Given the GAAP operating loss of $13.6 million in Q3 2024 compared to a GAAP operating income of $2.1 million in the prior year, can you detail the specific initiatives that will drive you to sustained GAAP operating profitability in the first half of 2025, and what obstacles might impede this goal?
- With R&D expenses increasing significantly due to a one-time non-cash impairment charge and other factors, how do you plan to reduce R&D expenses as a percentage of revenue without hindering innovation and product development that are crucial for maintaining your competitive edge?
- Considering the current consensus projects 18% growth for 2025, but you aspire to be a 20% grower, what concrete strategies are in place to bridge this gap, and what risks could prevent you from achieving the higher growth rate?
- As you anticipate positive results from the PEERLESS trial, is there a concern that this could create a class effect benefiting other companies in the mechanical thrombectomy space, and how will you ensure that Inari captures the majority of the potential market expansion?
- Despite international revenue growing by 76.4%, it remains a small fraction of total revenue; what are the primary challenges in scaling international sales to reach your goal of it accounting for at least 20% of Inari's revenue, and what strategies are you implementing to overcome these hurdles?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
LimFlow S.A. | 2023 | **Inari Medical completed its acquisition on November 15, 2023, paying an upfront cash of $250 million and committing up to $165 million in contingent payments based on clinical and reimbursement milestones. ** The deal strategically strengthens Inari’s portfolio in the CLTI market by adding LimFlow’s FDA-approved TADV system, with plans for revenue ramp-up in 2024-2025 and initial operating support estimated at $2‑$3 million per month. |
No recent press releases or 8-K filings found for NARI.