Inari Medical to Acquire LimFlow

November 1, 2023—Inari Medical has agreed to acquire LimFlow SA, manufacturer of the LimFlow System for Transcatheter Arterialization of the Deep Veins (TADV). The LimFlow System, which is designed to establish blood flow in patients with “no option” chronic limb threatening ischemia (CLTI), gained FDA approval in September 2023.

Terms of the agreement include Inari paying $250 million in cash at closing, with contingent consideration of up to $165 million in additional cash payments if certain commercial and reimbursement milestones are met. The acquisition is expected to close in the fourth quarter of 2023.

Results from LimFlow’s PROMISE II US pivotal trial were published in the New England Journal of Medicine in March 2023, demonstrating a 76% amputation-free survival rate and progressive wound healing.

“The acquisition of LimFlow is closely aligned with our mission to address significant unmet patient needs and adds another highly differentiated growth platform into our portfolio,” said Drew Hykes, CEO of Inari, in the companies’ announcement. “We see the CLTI market as poised for durable growth, driven by compelling technology, outstanding clinical results, and multiple opportunities for expansion. As a minority investor and board observer in LimFlow since early 2022, we have seen firsthand the life-changing impact this technology has on patients, as well as how complementary our two businesses are.”

“I am incredibly proud of the LimFlow team and our clinical investigators who have developed our novel solution that can provide a better life to CLTI patients,” added LimFlow CEO Dan Rose. “By joining with Inari and benefitting from their exceptional resources and capabilities, we expect to be well-positioned to increase access to our technology and advance our shared mission of creating better outcomes for patients.”