by
Gus Iversen, Editor in Chief | January 10, 2025
Stryker headquarters in Portage, Michigan
Stryker has announced plans to acquire Inari Medical Inc. for $80 per share in cash, valuing the transaction at approximately $4.9 billion.
The acquisition will position the Portage, Michigan-based company in the growing peripheral vascular market, with a focus on venous thromboembolism (VTE) solutions. Inari, headquartered in Irvine, California, specializes in mechanical thrombectomy devices for conditions like deep vein thrombosis and pulmonary embolism.
The deal, unanimously approved by both companies’ boards, is expected to close by the end of the first quarter of 2025, pending regulatory approvals and other conditions.
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“Expanding our portfolio into the peripheral vascular space allows us to provide lifesaving solutions to patients suffering from these conditions,” said Kevin Lobo, chair and CEO of Stryker.
Inari’s offerings complement Stryker’s neurovascular business, adding innovative tools that remove VTE clots without thrombolytic drugs. Drew Hykes, CEO of Inari, noted that the merger would accelerate product development and global reach.
VTE affects nearly 900,000 Americans annually and is a leading cause of morbidity and mortality. Risk factors include hospitalization, cancer treatment, and pregnancy. Inari’s solutions aim to address these challenges with purpose-built technologies.
Following a tender offer for Inari shares, Stryker plans a second-step merger to complete the acquisition. Financial impacts of the deal will be discussed during Stryker’s fourth-quarter earnings call on January 28, 2025.
