Stryker Corporation Signs Definitive Agreement to Acquire Inari Medical Inc. for $80 per Share

Inari Medical Inc., a leading peripheral vascular solutions provider, has entered into a definitive Agreement and Plan of Merger with Stryker Corporation, a global leader in medical technologies. According to the agreement disclosed on January 6, 2025, Stryker will acquire all outstanding shares of Inari for $80 per share in cash. This transaction signifies a total fully diluted equity value of approximately $4.9 billion.

The merger aims to bring together Stryker’s extensive portfolio with Inari’s innovative solutions that cater to peripheral vascular diseases, notably venous thromboembolism (VTE). Inari, established in 2011, focuses on providing mechanical thrombectomy solutions for conditions such as deep vein thrombosis and pulmonary embolism, which affect a significant number of individuals globally each year.

Both companies have expressed enthusiasm regarding the merger, highlighting the potential of combining resources to enhance patient care in the realm of venous thromboembolism. Stryker’s Chairman and CEO, Kevin Lobo, emphasized that this acquisition would bolster the treatment offerings for peripheral vascular diseases, raising the standard of care for patients. In response, Inari’s CEO, Drew Hykes, expressed confidence that the collaboration with Stryker would propel the development of new, life-saving innovations and broaden their impact.

The agreement outlines that Stryker will initiate a tender offer for all outstanding shares of Inari. Upon completion of the tender offer, any remaining untendered shares will be acquired through a second-step merger at the same price as in the initial tender offer. The transaction, subject to customary closing conditions, is anticipated to finalize by the end of the first quarter of 2025.

The companies have issued joint press releases and communicated publicly about the agreement, emphasizing the strategic synergy and the potential benefits the merger would bring to the peripheral vascular segment. Financial aspects and other relevant details regarding the impact on 2025 financial results will be elaborated upon by Stryker in its upcoming fourth quarter 2024 earnings call scheduled for January 28, 2025.

Both Stryker and Inari encourage interested parties, including Inari’s shareholders, to carefully review the contents of the tender offer materials, which will be filed with the U.S. Securities and Exchange Commission (SEC) when the tender offer commences. Inari stockholders are advised to assess all relevant information before making any decisions related to the tender offer.

For further information or additional details on the transaction and associated materials, interested parties are directed to visit Stryker’s and Inari’s respective websites or contact the investor relations departments of the companies.

The above forward-looking statements are subject to various risks and uncertainties, as disclosed in the filings submitted to the SEC by Stryker and Inari. Interested parties are urged to consider these factors when evaluating the potential outcomes of the acquisition.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Inari Medical’s 8K filing here.

Inari Medical Company Profile

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.