Inari Medical has entered into a definitive agreement to acquire LimFlow, a privately held pioneer in limb salvage for patients with chronic limb-threatening ischemia (CLTI), for $250 million in cash at closing and additional cash payments based on certain commercial and reimbursement milestones achieved by LimFlow.

The transaction is expected to close in the fourth quarter of 2023.

LimFlow is transforming the treatment of CLTI, a large and underpenetrated market that affects more than 1.5 million patients worldwide each year, including approximately 560,000 in the US. The minimally-invasive LimFlow System, which received the CE Mark in October 2016 and FDA PMA approval in September 2023, is designed to bypass blocked arteries in the leg and deliver oxygenated blood back into the foot via the veins in no-option CLTI patients, those who are facing major amputation and have exhausted all other therapeutic options.

We believe the CLTI market is poised for sustained growth, driven by compelling technology, outstanding clinical results and multiple expansion opportunities. As a minority investor and board observer in LimFlow since early 2022, we have seen first-hand the life-changing impact this technology has on patients and how complementary our two businesses are,” said Drew Hykes, CEO of Inari Medical.

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