04:54 PM EST, 01/06/2025 (MT Newswires) -- Stryker (SYK), a medical technologies company, said late Monday that it signed a definitive agreement to acquire Inari Medical ( NARI ) for a fully diluted equity value of about $4.9 billion.

The company will acquire Inari's issued and outstanding common stock for $80 per share in cash via a tender. It plans to acquire all remaining shares not tendered through a so-called second-step merger at the same price as in the tender.

The deal will likely close by the end of Q1, Stryker said.

"The acquisition of Inari expands Stryker's portfolio to provide life-saving solutions to patients who suffer from peripheral vascular diseases," Stryker Chief Executive Kevin Lobo said. "These innovations elevate the standard of care for venous thromboembolism patients and will accelerate Stryker's impact in endovascular procedures."

Stryker will detail the anticipated impact of the deal on its 2025 financial results in its Q4 earnings call on Jan. 28.

Inari was founded in 2011 in the venous thromboembolism market segment.

Shares of Inari soared past 21% in after-hours activity, while Stryker rose 1.3%.

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