Medical devices behemoth Stryker agreed to buy Inari Medical for $4.9 billion late Monday. Inari stock catapulted on the news.

Stryker said it has a definitive agreement to purchase Inari Medical for $80 per share, a big premium that values the deal at $4.9 billion.

After professing a hearty appetite for tuck-in M&A last year and signing a string of smaller deals, Stryker is now opening its pocketbook a bit wider to acquire Inari Medical, with it | Stryker said the addition of Inari’s devices for venous thromboembolism will complement its current neurovascular business.

Stryker said its planned acquisition of Inari Medical would strengthen its position in the peripheral vascular market.