Medical device maker Stryker has agreed to acquire Inari Medical for approximately $4.9 billion. The acquisition, which is expected to close in the first quarter of 2025, marks a significant expansion of Stryker’s portfolio.
Inari Medical, based in Irvine, California, develops devices to treat vascular disease, including catheter-based mechanical thrombectomy systems. The company’s product portfolio complements Stryker’s neurovascular business, and CEO Kevin Lobo described Inari’s innovations as elevating the standard of care for patients with venous thromboembolism.
The deal is a significant departure from Stryker’s recent acquisition strategy, which has focused on smaller, tuck-in deals. However, Stryker CEO Lobo stated that he had planned a “very active deal pipeline” in 2024 and saw this acquisition as an opportunity to accelerate the company’s impact in endovascular procedures.
Inari is expected to generate $603 million in revenue in 2024, with the acquisition price representing a premium of over $30 per share. The transaction also marks Stryker’s entry into medtech M&A in 2025, following a flurry of deals last year that included acquisitions of Care.ai and Vertos Medical.
Source: https://www.medtechdive.com/news/stryker-inari-medical-acquisition/736615