Irvine-based Inari Medical Inc. will be acquired by Stryker Corp. for $4.8 billion. The boards of directors of both companies have approved the transaction, and it’s expected to close in the first quarter of 2025.

Inari Medical stock skyrocketed Monday afternoon and again Tuesday morning after a report that it was close to being acquired by Stryker proved to be true, with the companies announcing the deal after the bell Monday.

Stryker has entered a definitive agreement to acquire complete issued and outstanding shares of Inari Medical’s common stock for $80 per share in cash, which equates to a total equity value of nearly $4.9bn. Inari is poised to enhance Stryker's footprint in the peripheral vascular sector, particularly in the venous thromboembolism (VTE) market.

Inari makes mechanical thrombectomy solutions designed to treat peripheral vascular diseases. Stryker said the deal would be complementary to its neurovascular business.

Stryker said its planned acquisition of Inari Medical would strengthen its position in the peripheral vascular market.

Inari Medical's stock surged 6% amid reports of advanced acquisition talks with Stryker, potentially closing a deal this week.

By Anirban Sen NEW YORK (Reuters) -Medical-device maker Stryker on Monday agreed to acquire Inari Medical, which makes devices that treat patients with venous diseases, in an all-cash deal worth $4.9 billion.

Stryker Corporation SYK recently inked a definitive agreement to acquire all the issued and outstanding shares of common stock of Inari Medical, Inc. NARI for $80 per share in cash, representing a total fully diluted equity value of approximately $4.

Stryker announces agreement to acquire Inari Medical for $4.9 billion, resulting in a 21% jump in Inari's shares.