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 has agreed to acquire medical technology maker Inari Medical in a deal worth $4.9 billion, the companies said Monday.The medical device maker plans to buy all of Inari’s common stock for $80 a share,

Inari Medical's stock surged 6% amid reports of advanced acquisition talks with Stryker, potentially closing a deal this week.

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.

Stryker said it has a definitive agreement to purchase Inari Medical for $80 per share, a big premium that values the deal at $4.9 billion.

Stryker (SYK) confirmed an agreement to purchase Inari Medical (NASDAQ:NARI) for about $4.9 billion. Inari jumped 21% in after hours trading. The medical devices firm will play $80 a share in cash for Inari (NASDAQ:NARI),

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

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.

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.