Stryker
(NYSE: SYK)
announced today that it completed its previously announced acquisition of Inari Medical.
The Portage, Michigan–based orthopedic and surgical device giant announced last month that it struck a deal to acquire Inari worth $4.9 billion. Inari develops solutions for venous thromboembolism (VTE) clot removal without the use of thrombolytic drugs.
Stryker believes adding Inari brings an established peripheral vascular position to the company in the fast-growing VTE segment.
“The acquisition of Inari Medical marks a significant milestone in expanding our interventional endovascular portfolio,” said Kevin Lobo, chair and CEO, Stryker. “We look forward to welcoming the talented Inari team to Stryker and working together to improve outcomes for patients worldwide.”
Stryker said Inari’s product portfolio is highly complementary to its Neurovascular business unit. It includes two thrombectomy solutions — FlowTriever for treating pulmonary embolism (PE) and ClotTriever for thrombectomy in the peripheral vessels — plus emerging therapies.
Inari’s portfolio includes nitinol-enabled devices and systems like the FlowTriever for pulmonary embolism (PE), ClotTriever for deep vein thrombosis (DVT), LimFlow system for chronic limb-threatening ischemia (which Inari purchased for up to $415 million in 2023), and the new Artix thrombectomy system for acute limb ischemia.
The terms of the deal see Stryker acquire all outstanding shares of Inari common stock for $80 per share. All conditions of the cash tender offer have been satisfied, Stryker says. Upon the completion of the deal, Inari became a wholly owned subsidiary of Stryker.
