Inari Medical
(Nasdaq: NARI)
announced that it completed its acquisition of chronic limb-threatening ischemia (CLTI) treatment maker LimFlow.
The Irvine, California–based company earlier this month announced plans to acquire LimFlow for up to $415 million. The deal came just weeks after Paris-based LimFlow won FDA premarket approval (PMA) for its breakthrough CLTI treatment. Inari Medical intends to pay a total upfront consideration of $250 million in cash at closing.
Contingent consideration of up to $165 million in additional cash payments hinges on certain commercial and reimbursement milestones. Inari expects to pay those tranches out between 2025 and 2027. The company said it funded the acquisition at close from existing cash resources.
LimFlow designed its system for transcatheter arterialization of deep veins. It diverts blood from a diseased tibial artery to a tibial vein to deliver oxygen to a patient’s ischemic foot.
In the initial announcement, Inari CEO Drew Hykes said the LimFlow acquisition aligns with the company’s mission to address significant unmet patient needs and adds another highly differentiated growth platform into Inari’s portfolio.
“The close of the LimFlow acquisition allows us to begin to integrate this exciting technology that is offering new hope to patients suffering from CLTI,” Hykes said in a news release today. “LimFlow addresses one of the most significant unmet needs in all of vascular medicine, is closely aligned with our mission and adds another highly differentiated growth platform into our portfolio.”
Medical Design & Outsourcing: How LimFlow’s foot-saving system prevents amputations in patients with no other options.