Inari Medical, Inc. completed the acquisition of LimFlow SA.
November 14, 2023
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Inari Medical, Inc. (NasdaqGS:NARI) agreed to acquire LimFlow SA for $415 million on October 31, 2023. Total consideration of $415 million which will pay upfront consideration is $250 million paid in cash upon closing and contingent consideration of up to $165 million in additional cash payments are subject to the achievement of certain commercial and reimbursement milestones. The earliest potential payment would be due in 2025. Additional contingent payments of up to $165 million will be payable as follows (i) up to $140 million based on net revenue generated from the sale of LimFlow?s transcatheter arterialization of deep veins therapy system for the period of 2024 through 2026 and (ii) up to $25 million based on the achievement of certain reimbursement milestones relative to the LimFlow System. Financing of the transaction at closing is expected to be with cash on hand and borrowings under existing credit facilities. The transaction financing for the transaction is as follow, existing cash and cash equivalents of approximately $350 million, and access of $75 million from existing committed credit facilities. The acquisition is subject to customary closing conditions and is expected to be completed in the fourth quarter of 2023.
BofA Securities, Inc. acted as financial advisor and Julie Scallen Andrew Moosmann, Pierre-Louis Cléro, B. Shayne Kennedy, Elizabeth Richards, Betty Pang, Charles Sanders and Sarah Gagan, Shayne Kennedy and Ross McAloon, Eveline Van Keymeulen, Héctor Armengod, Patrick English, Nicholas DeNovio, Olivia Rauch-Ravisé, Michelle L.C. Carpenter from Latham & Watkins LLP, Latham & Watkins LLP (Paris), Latham & Watkins LLP acted as legal advisors to Inari Medical.
Inari Medical, Inc. (NasdaqGS:NARI) completed the acquisition of LimFlow SA on November 15, 2023.
Inari Medical, Inc. is a medical device company. The Companyâs products primarily consist of ClotTriever and FlowTriever systems, which are catheter-based mechanical thrombectomy systems that are used for the treatment of the venous thromboembolism (VTE) deep vein thrombosis (DVT), and pulmonary embolism (PE). Its InThrill system is used for the removal of emboli and thrombi from the peripheral vasculature. The LimFlow system is indicated for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and are at risk of major amputation. It also offers RevCore thrombectomy catheter, which is a thrombectomy device for venous stent thrombosis, Triever 16 Curve catheter, which is used for venous thrombus removal, and ClotTriever Bold catheter, which is used for DVT and the removal of acute and chronic clots in the peripheral vasculature. Its ClotTriever XL, which is a catheter for efficient clot removal with minimal blood loss.
INARI MEDICAL, INC. 
