Inari Unveils New CFO

Beginning in October, Kevin Strange will take over as CFO at Inari Medical. Mitch Hill will be replaced. 2019 saw Hill join the clot removal device manufacturer Inari. The business went public and saw a quarterly sales increase from $6 million to $146 million while Hill was employed at Inari.

In 2020, Strange became a vice president of strategy and commercial growth at Inari. Strange currently oversees daily financial operations in his capacity. Hykes stated that Hill will “continue to support Kevin’s efforts in every way and will remain with Inari through early January 2025” even though he will be giving Strange the title of CFO at the beginning of October.

Inari revealed the CFO change concurrently with its Q2 earnings. The analysts at Truist Securities noted in a letter to investors that the “unexpected CFO transition strikes us as succession planning.”

The firm increased its full-year sales target for the second consecutive quarter and posted revenue of $146 million for the quarter, which represents a year-over-year gain of 23%. Future catalysts mentioned by Hykes included the Venacore thrombectomy catheter’s complete market announcement, the anticipated reintroduction in cases of acute limb ischaemia, and the planned releases in China and Japan.