Stryker has begun a deal to acquire Inari Medical, a maker of products to treat venous thromboembolism (VTE).

The deal is valued at $80 per share in cash, representing an equity value of about $4.9 billion. Inari complements Stryker’s neurovascular business, which already includes mechanical thrombectomy solutions for peripheral vascular diseases such as deep vein thrombosis and pulmonary embolism.

Inari offers solutions for VTE clot removal without the use of thrombolytic drugs.

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

This transaction is anticipated to close by the end of Q1 2025.

“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, CEO of 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.”

In September 2024, Stryker acquired NICO Corporation, a privately-held company that offers a systematic approach to minimally invasive surgery for tumor and intracerebral hemorrhage (ICH) procedures.