M&A · Healthcare · Surgical & Medical Instruments & Apparatus
Stryker Corp to acquire Inari Medical, Inc.
Announced Jan 6, 2025 · Closed Feb 19, 2025
Deal value$4.90BEV $4.86B
Premium61.0%To unaffected price
EV / Adj. EBITDA—8.5x EV / Revenue
ConsiderationAll cash$80.00 per share
Transaction
- Acquirer
- Stryker Corp (SYK)
- Target
- Inari Medical, Inc. (NARI)
- Buyer type
- Strategic
- Offer price per share
- $80.00
- Enterprise value
- $4.86B
- Status
- Closed Feb 19, 2025
Deal protections
- Break fee (target pays)
- $163M · 3.3%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Not disclosed
- To the target
- Morgan Stanley
Sector context · Healthcare
- Comparable deals
- 95 in the prior 24 months
- Premium
- 61.0% vs. 67.0% sector median
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- 3.3% vs. 3.5% sector median
Timeline
- AnnouncedJan 6, 2025
- Tender offerJan 17, 2025
- ClosedFeb 19, 2025