USA medical equipment manufacturer Stryker (SYK.US) has agreed to acquire venous disease treatment equipment manufacturer Inari Medical (NARI.US) for $4.9 billion cash, with an offer price of $80 per share. The transaction has been approved by both Boards of Directors and is expected to be completed in the first quarter. Inari's stock price surged over 30% on Monday (6th) upon reports from Reuters, and rose another 22% last night (7th) to $79.45.

Reports cite sources indicating that Inari has been discussing the Ask with advisors in recent weeks, attracting interest from Stryker and Other companies. As of last week, Inari's stock price had fallen about 21% over the past 12 months, yet it continues to outperform the S&P 500 Health Care Equipment index.