Stryker Corporation has completed its acquisition of Inari Medical through a cash tender offer of $80 per share, valuing the transaction at approximately $4.94 billion. The offer expired on February 18, 2025, with 81.69% of Inari’s outstanding shares tendered. Following the completion of the tender offer, Stryker merged its subsidiary, Eagle 1 Merger Sub, Inc., into Inari, making Inari a wholly owned subsidiary.

At the time of the merger, all outstanding Inari shares were converted into the right to receive $80 per share. Inari’s outstanding stock options and restricted stock units were also converted into cash payments. Stryker financed the acquisition using a combination of available cash and debt financing.

As part of the acquisition, Inari’s board of directors resigned, and Stryker-appointed directors took over. Inari’s bylaws and certificate of incorporation were amended. Inari’s stock was delisted from Nasdaq, and the company intends to terminate its SEC registration. Executive employment agreements for key Inari executives were modified to extend severance eligibility from 12 months to 24 months in the event of a qualifying termination.