Shares of Inari Medical (NARI) catapulted to a 12-month high Monday on a report medical devices maker Stryker (SYK) is in advanced talks to buy it.
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If the talks are successful, a deal could come as soon as this week, anonymous sources reportedly told Reuters. Inari is worth about $3.8 billion, compared to Stryker’s massive nearly $138 billion market cap.
Stryker is known across the health care world. It makes surgical tools and equipment, offers joint replacement implants and works in the neurotechnology space, among other areas. Meanwhile, Inari and rivals like Penumbra (PEN) make catheter-like devices to remove blood clots.
In late trades, Inari stock surged 29.9% to 64.65. Stryker stock rose a fraction.
More to follow.
Follow Allison Gatlin on X/Twitter at @IBD_AGatlin.
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