Stryker Agrees to Buy Inari Medical for $80 Per Share (2)

Medical device maker Stryker Corp. agreed to purchase Inari Medical Inc. for about $4.9 billion to expand its offerings in the fast-growing area of treating blood clots in the legs and lungs.

The boards of both companies approved the deal and Stryker will commence with a cash offer of $80 per share, it said late Monday.

Shares of Inari were up 22% when the market opened Tuesday. Inari had lost around a fifth of its market value in the year leading up to Friday’s close. Stryker’s shares were little changed.

Inari produces devices to treat venous thromboembolism, or VTE, a ...