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Inari Under Investigation For Potentially Bribing Doctors

Medtech firm did not initially disclose federal probe nor did it reassure investors its payments to doctors are appropriate.

March 13, 2024

In December 2023 Inari Medical Inc. (NARI), a maker of minimally invasive and catheter-based mechanical thrombectomy systems, received a civil investigative demand (CID) from the U.S. Department of Justice’s (DOJ) Civil Division in a probe under the federal Anti-Kickback Statute and Civil False Claims Act.

Under scrutiny are the money and perks Inari funnels to surgeons::

“The CID requests information and documents primarily relating to meals and consulting service payments provided to health care professionals (“HCPs”).”

The probe was revealed in Inari’s latest annual report.

Notably, Inari did not assure investors the meals and payments being investigated were lawful.

Though it did not quantify the potential financial impact of the probe, Inari acknowledged it may be material.

The day before the disclosure, Inari released its fourth quarter and full year results but did not mention the bribery probe.

Six days before the admission, the company announced Kirk Nelson— the Chair of Inari’s Nominating and Corporate Governance Committee— would resign from the Board a year early.

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