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- Inari Medical
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 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
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
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Revenue
$754M (Jan 2025)
Valuation
$4.9B (acquired Jan 2025)
Sectors
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.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 6 Jan 2025 | Strategic M&A | $4.9B | 6.5x |
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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2018 | Series C | Gilde Healthcare (lead); Versant Ventures; U.S. Venture Partners | $21M | Inari 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 2015 | Series C | - | $6M | Inari 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 2015 | Series B | Versant Ventures (lead); U.S. Venture Partners | $12M | Inari 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 2013 | Series A | U.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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2013 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions 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
| 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 Country | |
| HQ City | Paris |
| Deal Date | 1 Nov 2023 |
| Valuation | $250M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Inari Medical acquisitions and their M&A valuation multiples. Start Free Trial | |
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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $305M | $12M | $5.2B | 11.7x | ||
| Private | - | - | $4.4B | - | ||
| Private | - | - | $4.3B | - | ||
| Private | - | - | $4.2B | - | ||
| Publicly listed | $722M | $199M | $5.7B | 7.4x | ||
| Publicly listed | $366M | $232M | $4B | 9.5x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.3B | $268M | 4.4x | 4.3x | 21.8x | 14.2x | |||
| $957M | $193M | 4.9x | 4.2x | 24.1x | 17.9x | |||
| $4.4B | $488M | 0.9x | 0.9x | 8.4x | 8.1x | |||
| $981M | $153M | 4.7x | 4.2x | 30.2x | 17.7x | |||
| $1.5B | $317M | 3.6x | 3.4x | 17.3x | 13.5x | |||
| $385M | $154M | 12.8x | 10.9x | 32.0x | 27.6x | |||
| $25M | ($10M) | 185.7x | - | (455.2x) | - | |||
| $305M | $12M | 15.8x | 11.7x | 401.1x | 75.4x | |||
This data is available for Pro users. Sign up to see all Inari Medical competitors and their valuation data. Start Free Trial | ||||||||
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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