Inari Medical Acquisition, Valuation, Funding & Investors

Inari Medical was acquired by Stryker for $4.9B in January 2025, a 6.5x multiple on $754M of revenue.

Inari Medical acquisition price

$4.9B

Acquired by Stryker · Jan 2025

Inari Medical revenue at acquisition

$754M

Last twelve months · Jan 2025

Inari Medical revenue multiple at acquisition

6.5x

EV/Revenue · Jan 2025

Cumulative funding Inari Medical raised

$44M

across 4 funding rounds

Inari Medical Overview

About Inari Medical

Inari Medical is an Irvine-based medical device company specializing in catheter-directed thrombectomy for venous thromboembolism. Its FDA-cleared FlowTriever system treats pulmonary embolism by aspirating large clots from pulmonary arteries without thrombolytics. The ClotTriever device addresses deep vein thrombosis in iliofemoral veins. Launched commercially in 2018 and 2019 respectively, these tools feature large-bore sheaths and torqueable catheters used in over 50,000 procedures annually across US hospitals.


Founded

2011

HQ

United StatesLos Angeles, CA

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$754M (Jan 2025)

Valuation

$4.9B (acquired Jan 2025)

Inari Medical Acquisition

Inari Medical was acquired by Stryker for $4.9B on 6 January 2025.

The acquisition price implies a 6.5x revenue multiple on $754M of revenue.

Before the acquisition Inari Medical had raised $44M across 4 funding rounds.

Inari Medical acquisition details
AcquirerDateTypePriceEV/Revenue
6 Jan 2025Strategic M&A$4.9B6.5x

Inari Medical Funding History

Inari Medical has raised a total of $44M across 4 funding rounds.

Inari Medical's first fundraising round was a $5M Series A in October 2013. The most recent completed round was a $21M Series C in March 2018.

Inari Medical funding rounds

Inari Medical funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2018Series CGilde Healthcare (lead); Versant Ventures; U.S. Venture Partners$21MInari Medical is a US-based medtech company specializing in catheter-based technologies for treating venous thromboembolism (VTE), including pulmonary embolism and deep vein thrombosis. The company developed the FlowTriever and ClotTriever Systems, which enable the removal of large blood clots from major vessels without thrombolytic drugs. Both systems received FDA 510(k) clearance for peripheral thrombectomy and CE mark approval. Founded in 2013 as a spin-out from Inceptus Medical, Inari was backed by Versant Ventures, U.S. Venture Partners, and founders prior to the Series C. In March 2018, Inari Medical closed a $27 million Series C financing round led by Gilde Healthcare, with participation from existing investors Versant Ventures and U.S. Venture Partners. Geoff Pardo from Gilde joined the board. The funds were allocated to commercialize the FlowTriever and ClotTriever systems, accelerate commercial programs, support clinical development, and advance technology initiatives. At the time, annual revenues stood at $250,000 in Q1 2018, reflecting early-stage commercialization efforts. The round addressed a massive unmet need in VTE treatment, affecting over 10 million patients annually and a leading cause of death and disability. Gilde Healthcare was motivated by the large market opportunity and Inari's strong management team. Post-investment, Inari expanded US commercialization, pursued international growth, and advanced reimbursement strategies with Gilde's support. The company went public on NASDAQ (NARI) in May 2020, achieving over $5 billion valuation, and grew revenues to a projected $600 million in 2024 while creating over 1,000 jobs.
Dec 2015Series C-$6MInari Medical completed a Private Equity funding round of $6.1M on December 13, 2015, with investors not publicly disclosed. Earlier in 2015, the company closed a Series B round of $12.4M led by Versant Ventures and US Venture Partners, along with board members and medical device veterans. The Series B funds supported product improvements and clinical studies for the FlowTriever Retrieval/Aspiration System, an FDA-cleared catheter-based thrombectomy device for extracting clots from large vessels without thrombolytics. Inari Medical, founded in 2013 as a spin-out of Inceptus Medical, focuses on interventional treatments for vascular thrombus and emboli.
Jun 2015Series BVersant Ventures (lead); U.S. Venture Partners$12MInari Medical, a medical device company spun out from Inceptus Medical in 2013, develops catheter-based technologies for treating venous thromboembolism, including the FlowTriever and ClotTriever systems for mechanical thrombectomy without thrombolytics. The FlowTriever received FDA 510(k) clearance in March 2015 for peripheral vasculature emboli removal. In June 2015, Inari Medical closed a $12.4 million Series B financing round led by board members and existing investors Versant Ventures and U.S. Venture Partners, with participation from undisclosed medical device industry veterans. The funds supported continued product improvements, clinical studies to demonstrate value, and commercialization efforts for the FlowTriever Retrieval/Aspiration System.
Oct 2013Series AU.S. Venture Partners (lead); Versant Ventures (lead)$5M-

Who has invested in Inari Medical?

3 investors have backed Inari Medical across its funding rounds, including U.S. Venture Partners, Versant Ventures and Gilde Healthcare.

Lead investors include Gilde Healthcare, Versant Ventures and U.S. Venture Partners.


Inari Medical Investors

Investors in Inari Medical by funding rounds participated
InvestorHQRoundsRoleFirst check
Versant VenturesUnited StatesSan Francisco, CA3LeadOct 2013

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Inari Medical

Inari Medical has acquired 1 company to date.

Last acquisition by Inari Medical was on November 1st 2023. Inari Medical acquired LimFlow SA for $250M.


Latest Acquisitions by Inari Medical

LimFlow SA
Description
LimFlow SA is a Geneva-based medical device company developing the LimFlow System for percutaneous deep vein arterialization in chronic limb ischemia patients. The CE-marked technology redirects blood flow to ischemic foot tissue via minimally invasive stents, reducing amputations in no-option CLI cases. Clinical trials like PROMISE II demonstrate 80% limb salvage rates at one year. Established in 2013, LimFlow collaborates with vascular surgeons in Europe and pursues FDA approval.
HQ CountryFrance
HQ City
Paris
Deal Date1 Nov 2023
Valuation$250M
EV/Revenue
EV/EBITDA

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Inari Medical Competitors

Inari Medical competitors include listed companies like BillionToOne, Abbott India and Imeik Technology Development, and private ones like MiRus, Pulse and Biomat USA.

Public and private companies comparable to Inari Medical
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BillionToOneUnited StatesUnited StatesPublicly listed$305M$12M$5.2B11.7x
MiRusUnited StatesAtlanta, GAPrivate--$4.4B-
PulseChinaShanghaiPrivate--$4.3B-
Biomat USAUnited StatesLos Angeles, CAPrivate--$4.2B-
Abbott IndiaIndiaIndiaPublicly listed$722M$199M$5.7B7.4x
Imeik Technology DevelopmentChinaChinaPublicly listed$366M$232M$4B9.5x

Inari Medical Public Comps

Inari Medical is no longer listed, but its public comps include Haemonetics, Renishaw, Canon Marketing Japan, Novanta, Merit Medical Systems, APT Medical, Diagens, BillionToOne, Teleflex and Integer Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Haemonetics$1.3B$268M4.4x4.3x21.8x14.2x
Renishaw$957M$193M4.9x4.2x24.1x17.9x
Canon Marketing Japan$4.4B$488M0.9x0.9x8.4x8.1x
Novanta$981M$153M4.7x4.2x30.2x17.7x
Merit Medical Systems$1.5B$317M3.6x3.4x17.3x13.5x
APT Medical$385M$154M12.8x10.9x32.0x27.6x
Diagens$25M($10M)185.7x-(455.2x)-
BillionToOne$305M$12M15.8x11.7x401.1x75.4x

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Common questions about Inari Medical

When was Inari Medical founded?Inari Medical was founded in 2011.
Where is Inari Medical headquartered?Inari Medical is headquartered in Los Angeles, CA, United States.
Is Inari Medical publicly listed?No, Inari Medical was acquired by Stryker in January 2025.
Who acquired Inari Medical?Inari Medical was acquired by Stryker in January 2025.
How much was Inari Medical acquired for?Inari Medical was acquired for $4.9B in January 2025, a 6.5x revenue multiple.
How much funding has Inari Medical raised?Inari Medical has raised $44M across 4 funding rounds.
What was Inari Medical's last funding round?Inari Medical's last funding round was a $21M Series C in March 2018, led by Gilde Healthcare.
Who are Inari Medical's investors?Inari Medical's investors include Versant Ventures, U.S. Venture Partners and Gilde Healthcare.
Which companies are comparable to Inari Medical?Companies comparable to Inari Medical include BillionToOne, MiRus, Pulse, Biomat USA, Abbott India and Imeik Technology Development.
How many companies has Inari Medical acquired?Inari Medical has acquired 1 company, including LimFlow SA.
What was the largest acquisition by Inari Medical?The $250M acquisition of LimFlow SA in November 2023 is the largest acquisition Inari Medical has made to date.

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