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.

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.

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

After professing a hearty appetite for tuck-in M&A last year and signing a string of smaller deals, Stryker is now opening its pocketbook a bit wider to acquire Inari Medical, with it | Stryker said the addition of Inari’s devices for venous thromboembolism will complement its current neurovascular business.

Stryker said its planned acquisition of Inari Medical would strengthen its position in the peripheral vascular market.

After the MedTech giant Stryker (NYSE:SYK) agreed to offer $4.9B in cash to acquire Inari Medical (NASDAQ:NARI), a maker of clot removal systems, shares of its rival Penumbra (NYSE:PEN) gained sharply on Tuesday.