One of Orange County’s most valuable medical device companies has completed its move to an expanded headquarters facility in Irvine.
Inari Medical Inc. (Nasdaq: NARI), which makes products to treat patients suffering from blood clots and venous diseases, said in a recent regulatory filing that it completed its headquarters move to a larger facility in Irvine.
The $4.2 billion-valued company, which went public in 2020, entered into a 121,000-square-foot lease about a year ago for 6001 Oak Canyon, part of Irvine Co.’s Oak Canyon Business Center.
The four-building business park is near the intersection of Sand Canyon Avenue and the Santa Ana (5) Freeway, close to the Oak Creek Golf Club, and the newly built Innovation Office Park.
The entire building totals about 161,000 square feet. It previously served as the headquarters for Incipio Group, a maker of protective cases for smartphones and other consumer electronics devices.
September Move
Inari’s lease was among the largest office leases made in OC last year.
In addition to office space, the new facility is expected to be used by Inari for research, manufacturing, distribution, training and other related activities.
The move was completed at the end of September, according to Inari.
The company, founded in 2011, is pioneering a new way of treating patients with blood clots in their veins. Its third-quarter sales increased 88% to $72.9 million. Analysts are forecasting 2022 sales will jump 23% to $328.2 million.
Keeping Old HQ
The 10-year lease counts two options to extend the term for five years each, and the company said it is likely to do so. It still leases space at its old headquarters, another Irvine Co. office elsewhere in the city that runs 38,200 square feet, under a deal that runs until 2024, filings indicate.
Inari also leases warehouse space elsewhere in Irvine and in Lake Forest.Â
