(Bloomberg) -- Medical device maker Stryker Corp. agreed to purchase Inari Medical Inc. for about $4.9 billion to expand its offerings in the fast-growing area of treating blood clots in the legs and lungs.
The boards of both companies approved the deal and Stryker will commence with a cash offer of $80 per share, it said late Monday.
Shares of Inari were up 22% when the market opened Tuesday. Inari had lost around a fifth of its market value in the year leading up to Friday’s close. Stryker’s shares were little changed.
Inari produces devices to treat venous thromboembolism, or VTE, a condition where blood can clot in the legs and in some cases progress to the lungs, expanding Stryker’s portfolio in peripheral vascular diseases.
The condition impacts as many as 900,000 people in the US, and the risk is highest among those who have been hospitalized, have received cancer treatment, or are pregnant or have recently given birth, Stryker said.
The deal talks were reported earlier by Reuters. It comes during a surge in medical implant device demand in the US after delayed surgical treatments during the Covid-19 pandemic, the report said.
The deal is expected to close in the first quarter, according to a presentation. Its impact on Stryker’s results will be discussed during the company’s fourth quarter earnings, which are scheduled for Jan. 28.
(Updates shares in third paragraph and analyst comments in sixth paragraph.)
©2025 Bloomberg L.P.