Stryker's acquisition of Inari Medical strengthens its Neurovascular business, but its high valuation may warrant caution for investors. Learn more on SYK stock here.

Stryker Corporation SYK recently inked a definitive agreement to acquire all the issued and outstanding shares of common stock of Inari Medical, Inc. NARI for $80 per share in cash, representing a total fully diluted equity value of approximately $4.

Inari Medical stock skyrocketed Monday afternoon and again Tuesday morning after a report that it was close to being acquired by Stryker proved to be true, with the companies announcing the deal after the bell Monday.

Stryker Corporation, a leading medical technologies company, has announced its definitive agreement to acquire Inari Medical, Inc., a Delaware corporation. The Agreement and Plan of Merger were entered into on January 6,

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.

Stryker acquires Inari Medical in a $4.9 billion deal, enhancing its vascular portfolio with innovative VTE treatments and a growing global reach.

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

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