Medical device manufacturer Stryker Corp. has agreed to acquire Inari Medical Inc. for approximately $4.9 billion. This strategic acquisition aims to bolster Stryker’s portfolio in the burgeoning sector of blood clot treatment in both the legs and lungs.
The boards of directors at both Stryker and Inari have approved the transaction, paving the way for Stryker to initiate a cash offer of $80 per share. This deal comes at a time when Inari’s stock value had witnessed a decline of over 21% in the past year, leading to a notable rebound. Following the announcement, Inari’s shares surged nearly 31% at the close of trading, representing its most significant single-day rise since May 2020, and eventually marking a 58% one-day gain. In contrast, Stryker’s shares closed with little change.
This acquisition underscores Stryker’s commitment to enhancing its product offerings in the medical device industry, particularly as it seeks to address the growing demand for innovative treatments in the area of venous thromboembolism.