Richard Newitter: Okay. Yeah. No, that’s very helpful. And then just, you know, I think there’s been some confusion out there with, how the pricing models work with what’s in your bundle, what’s not, as you’ve, you know, started to add a number of new products to the portfolio. I was just wondering, if you could maybe help clarify for investors how, what the different pricing models are and which of the new — the newer, more recently launched products are factoring into the bundle that are outside of the bundle. I just think that could benefit the investment community, hearing a little bit more about the mechanism of pricing and those new products fitting into the procedure pricing model. Thanks.
Drew Hykes: Sure, Richard. So I think you likely understand in the FlowTrevor part of our business, that has always been under historically a per procedure price model that covers essentially the entire FlowTrevor toolkit. On the ClockTrevor side, the majority of our ClockTrevor accounts are still on a SKU-based approach where we’re pricing the ClockTrevor sheath and the ClockTrevor catheter separately. Some of the new products, I think this is where some of the confusion or questions come from, some of our new products straddle both. So RevCore, for instance, can be a SKU-based account from a pricing standpoint. In some other accounts, it can be included in one of our PPPs. So ProTree would be the same kind of example where it can be in some accounts as a SKU based pricing and in others as part of a PPP bundle. So I think some of the questions come from the fact that these new products are straddling both of the two pricing strategies.
Richard Newitter: Okay. And then –
Drew Hykes: Oh, go ahead. Yeah, sorry.
Mitch Hill: Just to quickly follow up on that, that’s really a customer accommodation or convenience that we’ve developed, VTEPPP. We’ve had – we have a lot of cases, probably 15% or more of our DVT cases which are complex, meaning there can be clot up around the IVC part. And we’ll sometimes use the ClockTrevor to remove the — kind of the DVT portion of the clot and then a FlowTrevor to remove the clot up around the IVC. And rather than charge the hospital basically for a ClockTrevor on a SKU basis and then for the FlowTrevor PPP, we have developed the idea of a VTEPPP, which is at a much lower price than the two would be separately. And that’s something that we really did in response to customer feedback, and it’s been very well received and accepted.
Richard Newitter: And yeah, and it sounds like you’re doing the same thing for some of the recently launched products. I’m just curious, on those combo DVT and PE procedures, what percentage of the mix is that? Is that 15%, 10%, 20%?
Drew Hykes: Yeah, it’s a pretty modest part of the overall patient presentation. I think 10%, 15% is a pretty good ballpark estimate.
Richard Newitter: Okay. Thanks a lot, guys.
Drew Hykes: Thank you.
Operator: The next question comes from David Rescott from Baird. Please go ahead.
David Rescott: Hey, guys. Thanks for taking the questions. Congrats on the acquisition and the quarter here. First question from us, just on some of the comments around the midterm or medium-term expectations for the contribution from LimFlow as well as that 2025 or midpoint, or second half 2025 margin profitability. Do those assume that there are any either revenue, kind of cross-selling synergies associated with the acquisition, or are a lot of these more of the kind of bare-bones assessment based on maybe what the prior even LimFlow expectations could have been? Or are there any type of synergies that you’re accounting for when you’re calling out this midterm contribution and 2025 profit?
Mitch Hill: Yeah, David, let me get that started, and Drew may want to pile on. But essentially, our thinking about the revenue, for example, we’ve yet to really craft the 2024, you know, kind of revenue guidance for Inari, and then how that will kind of be layered with the LimFlow acquisition. You know, Drew mentioned we are extremely excited about the opportunities for the business, and, you know, you’ve got a sense for how we feel that can grow over kind of an intermediate term period of time. From my commentary about the cash flow support and also the profitability goal in terms of shifting out by a year, those are really under the kind of the construct of having the Inari core business continue to grow and develop as is, and essentially having the LimFlow business with its separate sales force.
And then we’ll kind of look for a lot of opportunities in other support services in terms of, opportunities to provide support for LimFlow. Obviously, there’s a lot of G&A and, you know, other type capabilities that we already have as a part of the Inari company that we can provide to LimFlow. So there are opportunities there to be efficient, but those businesses are essentially intended to be very focused and kind of grow at their own pace, essentially, based on the market opportunities which we’re able to develop and the market development, you know, efforts that we make.
David Rescott: Okay. That’s helpful. And then, you know, I know you guys have talked in the past about, you know, your confidence that this underlying VTE market or thrombectomy market and VTE has been growing, I think, 20%, you know, 20% or so, and have talked about as the market leader expecting to, you know, grow above that level. So just wondering if that still is your belief and or if the acquisition here signals any, hesitancy in either that or new product growth expectations that you have. And I just did want to make sure that I heard the ARTX2024 comments appropriately? Thank you.
Drew Hykes: Yeah, you did hear the ARTX reentry in 2024 correctly. To answer the first part of your question, I think we’ve never been more confident in the strength of the core VTE franchise. We saw great momentum here in the first nine months of this year. We’re seeing strong case growth across both PE and DBT. We like what we’re seeing in the VTE market development work that we’re doing. We are leveraging the clinical data and looking ahead that’ll be in the form of RCT data. We’re seeing nice traction and pickup from some of our new products and some of our new TAMs, and international is continuing to show some nice traction and strong sequential growth. So taken together, we feel really confident in how the core franchise is performing and all that, of course, is against the backdrop of a really healthy market setup as well.
So I think all that is reflected in our confidence to undertake an acquisition and add LimFlow into the portfolio. I think that reflects the strength and the confidence we have in the core franchise.
David Rescott: All right. Great. Thanks and congrats again.
Drew Hykes: Thank you.
Operator: [Operator Instructions] The next question comes from Chris Pasquale from Nephron Research. Please go ahead.
Chris Pasquale: Thanks. Congrats on the deal. Seems like a great fit. I had one question on LimFlow and then one on the existing business. On LimFlow, as you think about the potential to move up the curve to Rutherford for patients, what’s happening with that population today? Are those patients getting surgery or other endovascular therapies? Just trying to understand what you’d be looking to displace in that population.
