Irvine-based Inari Medical Inc. has entered into an agreement to be acquired for $4.9 billion by medical technology company Stryker Corp.

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

Fintel reports that on January 8, 2025, BTIG downgraded their outlook for Inari Medical (NasdaqGS:NARI) from Buy to Neutral. Analyst Price Forecast Suggests 14.00% Downside As of December 23, 2024, the average one-year price target for Inari Medical is $68.