Medical device maker Stryker nearing a deal to buy Inari Medical, sources say

Inari Medical

06/01/2025 20:37

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      Inari shares rise nearly 30% on acquisition news
    

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      Deal could enhance Stryker's venous disease treatment
offerings
    

  
 (Adds share price reaction)
    By Anirban Sen
       NEW YORK, Jan 6 (Reuters) - Medical-device maker Stryker
 SYK.N  is in advanced talks to acquire Inari Medical  NARI.O ,
which makes devices that treat patients with venous diseases,
people familiar with the matter told Reuters on Monday. 
    If the talks are successful, a deal could be announced as
soon as this week, the sources said, requesting anonymity as the
discussions are confidential. 
    A deal for Inari, which has a market value of about $3.8
billion, would bolster Stryker's efforts to build out its
offerings to treat a condition called venous thromboembolism,
where a blood clot forms in a vein, and other venous diseases. 
    Inari has been working with its advisers to explore a sale
in recent weeks after fielding inbound acquisition interest from
Stryker and other parties, the sources said, cautioning that
another suitor could approach Inari and it is possible that no
deal with any party is reached. 
    Stryker and Inari did not immediately respond to requests
for comment. 
    Inari's shares surged nearly 30% on the news. Before
Monday's gains, Inari's shares, which have been trading in New
York since 2020, had lost roughly 21% of their value over the
past 12 months, outperforming a bigger decline in the S&P 500
Health Care Equipment index  .SPLRCMED .
    The potential deal comes amid a surge in demand for medical
implant devices in recent years, as more people in the United
States, particularly older adults, increasingly opt for surgical
treatments that were previously deferred during the pandemic,
leading to a boost in procedural volumes.
    Irvine, California-based Inari, which was founded in 2013,
is a maker of devices and systems that treat patients suffering
from conditions including pulmonary embolism, deep vein
thrombosis, and in-stent thrombosis, which is a complication
that occurs when blood clots form in coronary stents. 
    The company's shares, which have been trading in New York
since 2020, have lost roughly 21% of their value over the past
year, outperforming a bigger decline in the S&P 500 Health Care
Equipment index  .SPLRCMED . 
    For the quarter ended Sept. 30, Inari reported revenue
growth of 21% and swung to an operating loss of $13.6 million,
but forecast that it would break even by the end of the fourth
quarter on robust demand for devices. 
    Kalamazoo, Michigan-based Stryker, which has a market value
of about $138 billion, is a medical technology giant that makes
devices for orthopedics, neurotechnology and spinal procedures.
    In its most recent quarterly earnings, Stryker raised its
annual profit forecast, banking on strong demand for its medical
and surgical devices and robust procedural volumes. 

 (Reporting by Anirban Sen in New York; additional reporting by
Sabrina Valle and Milana Vinn; Editing by Lisa Shumaker)
 ((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters
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