Stryker to acquire Inari Medical for US $4.9 billion

USA – Stryker, a leading global medtech company based in Michigan, has announced an exciting move to acquire Inari Medical for US $4.9 billion, marking a significant deal to kick off 2025.

This acquisition follows a busy year for mergers and acquisitions (M&A) in the medtech sector.

Inari, headquartered in Irvine, California, develops advanced catheter-based mechanical thrombectomy systems for treating vascular diseases.

Stryker, primarily known for its orthopedics business, highlighted that Inari’s products complement its existing neurovascular offerings.

With this acquisition, Stryker aims to strengthen its position in the endovascular health market.

Inari is projected to generate US $603 million in revenue for 2024, up from US $494 million in 2023 and US $383 million in 2022, according to Stryker’s presentation.

This growth trend marks a significant rise from the company’s US $51 million revenue in 2019, showing substantial progress in its field.

Stryker’s CEO, Kevin Lobo, expressed his excitement about the acquisition, stating, “Inari’s innovations elevate the standard of care for venous thromboembolism patients and will accelerate Stryker’s impact in endovascular procedures.”

This acquisition is a departure from Stryker’s recent focus on smaller, tuck-in deals, as the nearly US $5 billion price tag is considerably larger.

However, Lobo had previously mentioned in July 2024 that the company was planning a “very active deal pipeline,” with a focus on acquiring companies with fast-growing assets.

More details on how this deal will affect revenue, operating margins, and earnings per share are expected to be shared during Stryker’s earnings call on January 28.

Founded in 2011, Inari has made a global name for itself with its innovative technologies aimed at improving patient outcomes for conditions such as pulmonary embolism and deep vein thrombosis.

Stryker sees this acquisition as a strategic move to expand its portfolio in the peripheral vascular field, aligning with its ongoing leadership in neurovascular and endovascular health.

Lobo remarked, “The acquisition of Inari expands Stryker’s portfolio to provide life-saving solutions to patients who suffer from peripheral vascular diseases.”

Drew Hykes, CEO of Inari, also expressed optimism about the deal, saying, “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.”

Both Stryker and Inari’s boards of directors have unanimously approved the acquisition, which is expected to close in the first quarter of 2025.

This follows Stryker’s earlier acquisitions in August 2024 of Vertos Medical and care.ai, though the financial terms of those deals were not disclosed.