Irvine-based Inari Medical Inc. yesterday entered into an agreement to be acquired for $4.9 billion by medical technology company Stryker Corp.
Officials said Inari’s portfolio, which consists of medical devices to remove large blood clots from veins, will be “highly complementary” to Stryker’s neurovascular business.
“Inari has positively impacted the lives of hundreds of thousands of patients through the development of purpose-built tools that address unmet patient needs,” Inari Chief Executive Drew Hykes said in a statement.
“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.”
Shares in Inari today shot up 22% to $79.34 and a $4.6 billion market cap.
The acquisition is expected to close by the end of the first quarter this year.
See the Business Journal’s Jan. 13 issue for more information.
