Medical device maker Stryker said it has reached a deal to acquire Inari Medical for $80 per share in cash, representing an approximate value of $4.9 billion.
Inari, which was founded in 2011, will give Stryker a peripheral vascular position in the venous thromboembolism (VTE) segment. Inari’s product portfolio should align well with Stryker’s Neurovascular business. It includes mechanical thrombectomy solutions for peripheral vascular diseases such as deep vein thrombosis and pulmonary embolism.
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“The acquisition of Inari expands Stryker’s portfolio to provide life-saving solutions to patients who suffer from peripheral vascular diseases,” said Kevin Lobo, Chair and Chief Executive Officer, Stryker. “These innovations elevate the standard of care for venous thromboembolism patients and will accelerate Stryker’s impact in endovascular procedures.”
“Inari has positively impacted the lives of hundreds of thousands of patients through the development of purpose-built tools that address unmet patient needs,” said Drew Hykes, Chief Executive Officer, Inari. “With Stryker’s capabilities and global infrastructure, we will be even better positioned to accelerate the development of innovative new solutions and expand our footprint.”
The transaction is anticipated to close by the end of the first quarter of 2025, subject to customary closing conditions.