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

Inari makes mechanical thrombectomy solutions designed to treat peripheral vascular diseases. Stryker said the deal would be complementary to its neurovascular business.

Medical-device maker Stryker on Monday agreed to acquire Inari Medical , which makes devices that treat patients with venous diseases, in an all-cash deal worth $4.9 billion.

Stryker has entered a definitive agreement to acquire complete issued and outstanding shares of Inari Medical’s common stock for $80 per share in cash, which equates to a total equity value of nearly $4.9bn. Inari is poised to enhance Stryker's footprint in the peripheral vascular sector, particularly in the venous thromboembolism (VTE) market.

Medical device maker Stryker said it has reached a deal to acquire Inari Medical for $80 per share in cash, representing an approximate value of $4.9 billion.

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

Stryker said on Monday that the medical-device maker will buy Inari Medical, which makes devices that treat patients with venous diseases, in a $4.9 billion deal. The deal for Inari, which has a market value of nearly $3 billion,

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.