OC50 2023: Drew Hykes

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DREW HYKES
CEO
INARI MEDICAL

WHY: Joined firm in 2017 as chief commercial officer before becoming chief operating officer in 2020, leading day-to-day business operations of the company that makes products to extract blood clots from veins. Took over this year from Bill Hoffman.

BY THE NUMBERS: Company has grown from 10 employees in 2015 to 1,000. During a two-year stretch ended June 30, 2021, revenue surged 1,123%, ranking it No. 2 on the Business Journal’s 2021 annual list of the fastest-growing midsize publicly traded companies. Sales are expected to grow 26% this year to an expected $484 million and another 18% next year to $571 million. Since going public in 2020 at $19 a share, stock has tripled to around $62 and a $3.6 billion market cap as of May.

FUTURE PLANS: Has received FDA clearance for several new products that company says, “will drive market expansion while further distancing Inari from both existing and future competition.”

IN THEIR WORDS: Previous CEO Hoffman told analysts about Hykes: “I can make a pretty compelling argument that Drew was and is now much better public-facing CEO than I ever could have been … his mindset, his training, his problem-solving skills (make him) the single best executive I’ve ever seen … The reason that we’ve promoted him to COO a couple of years ago was because he’s just really good at the problem solving. A lot of the systems and the processes and the programs that are necessary for the explosive growth … (was) conceived, installed and executed by Drew.”

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