2025 (GLOBE NEWSWIRE) -- Stryker (NYSE: SYK) announced today that it has completed the acquisition of Inari Medical a company that provides innovative solutions for venous thromboembolism (VTE) clot removal without the use of thrombolytic drugs The addition of Inari brings an established peripheral vascular position to Stryker in the fast-growing VTE segment “The acquisition of Inari Medical marks a significant milestone in expanding our interventional endovascular portfolio,” said Kevin Lobo “We look forward to welcoming the talented Inari team to Stryker and working together to improve outcomes for patients worldwide.” Inari’s product portfolio is highly complementary to Stryker’s Neurovascular business and includes two novel mechanical thrombectomy solutions—the FlowTriever System for the treatment of pulmonary embolism and the ClotTriever System for thrombectomy in the peripheral vessels—as well as emerging therapies Completion of Tender Offer and Merger The previously announced cash tender offer for all of the outstanding shares of common stock of Inari for $80.00 per share without interest and subject to any applicable tax withholding has advised Stryker that 48,504,444 Inari shares (excluding shares tendered by notice of guaranteed delivery for which certificates have not yet been “received”) representing approximately 81.69% of the outstanding shares of Inari common stock were validly tendered pursuant to the tender offer and not properly withdrawn prior to the expiration time All of the conditions to the consummation of the tender offer have been satisfied all shares validly tendered pursuant to the tender offer and not properly withdrawn Stryker completed the acquisition of Inari on February 19 2025 through a merger pursuant to the Agreement and Plan of Merger each share of Inari common stock (other than shares owned by Inari or any subsidiary of Inari shares irrevocably accepted for purchase in the tender offer and shares held by stockholders of Inari who have properly demanded and perfected the right to appraisal under Delaware law with respect to such shares) has been converted automatically into the right to receive the same consideration payable pursuant to the tender offer of $80.00 per share Inari became a wholly owned subsidiary of Stryker Shares of Inari ceased trading prior to the open of the market on February 19 2025 and will be delisted from the Nasdaq Global Select Market For investor inquiries please contact:Jason Beach, Vice President, Finance and Investor Relations at 269-385-2600 or jason.beach@stryker.com For media inquiries please contact: Yin Becker, Vice President, Chief Corporate Affairs Officer at 269-385-2600 or yin.becker@stryker.com PORTAGE, Mich., March 6, 2025 /PRNewswire/ -- Inari Medical, now part of Stryker (NYSE: SYK) announced the launch of its Artix Thrombectomy System Purpose-built for the distinct needs of the peripheral arterial system Artix is a combined aspiration plus mechanical thrombectomy solution that delivers procedural control and versatility and is designed to set a new standard for arterial thrombectomy An arterial blood clot in the leg is a life- and limb-threatening emergency requiring immediate treatment existing therapies for arterial thromboembolism can lead to: The Artix System builds on the success of Inari's venous thrombectomy devices and is its inaugural entry into the arterial space Inari offers a comprehensive toolkit approach to arterial thrombectomy with an innovative over-the-wire system that provides physicians with the flexibility to aspirate and/or mechanically extract a clot Chief of Vascular at Norwalk Hospital in Norwalk performed the first commercial case with Artix on October 19 "The Artix Thrombectomy System marks a significant advancement in peripheral arterial thromboembolism treatment," said Dr I finally have a solution that effectively addresses a wide range of clots while enabling me to maintain vessel access and retain control throughout the entire case I expect Artix will take the place of open surgical repair in many of my arterial cases." Key distinctive features of the Artix system include: "There is a real clinical need to address chronic thrombi and decrease the risk of clot migration Artix will raise the bar of effective arterial thrombectomy," said Tom Tu "We are excited to bring Inari's core competency in thrombectomy to the arterial space with the goal of improving outcomes." For more information, visit https://www.inarimedical.com/artix-system a medical device company with a mission to treat and transform the lives of patients suffering from venous and other diseases Media contact:Sherri OaksonSenior Director, Communications MedSurg and Neurotechnology[email protected]  Jonathan Bowman is a paid consultant of Inari Medical All views and opinions expressed here by Dr Jonathan Bowman are his own and do not represent those of Inari Medical Indications for Use: The Artix thin-walled sheath is indicated for: (1) The non-surgical removal of emboli and thrombi from blood vessels infusion and/or aspiration of contrast media and other fluids into or from a blood vessel (3) Use as a conduit for endovascular devices (4) Use in facilitating the insertion and guidance of an intravascular catheter into a selected blood vessel The funnel provides temporary vascular occlusion during these and other angiographic procedures The Artix thin-walled sheath is intended for use in the peripheral vasculature The Artix MT thrombectomy device is indicated for (1) the non-surgical removal of emboli and thrombi from a blood vessel; and (2) injection and/or aspiration of contrast media and other fluids into or from a blood vessel The Artix MT thrombectomy device is intended for use in the peripheral vasculature The Artix AX aspiration catheter is indicated for (1) the non-surgical removal of emboli and thrombi from blood vessels; and (2) injection The Artix AX aspiration catheter is intended for use in the peripheral vasculature The FlowSaver blood return system is used with Inari Medical catheters and sheaths for autologous blood transfusion Possible Adverse Effects and Contraindications prior to use of these products showcases the latest advancements in Mako SmartRobotics™ across hip announced the launch of its Steri-Shield 8 personal protection system Health Care & Hospitals Medical Pharmaceuticals Medical Equipment New Products & Services Do not sell or share my personal information: the Inari Festival was held at our manufacturing sites in Osaka The Inari Festival takes place every year on the first Sunday of April to celebrate the company’s founding it was raining in the Kansai region the night before the event but the rain stopped in time for the event and so we were able to enjoy the festival in fine weather and with many cherry blossoms in full bloom at each site I attended the Inari Festival at Itami Works and prayed for the safety of our employees and also for the company’s prosperity In light of a serious accident that occurred last July we vowed once again to come together as a company and maintain safety as our top priority so that an accident like that never happens again Sumitomo Electric Industries, Ltd. President's blog is operated by the Company. Please note the about this blog. Stryker notes that the Artix system builds on the success of Inari’s venous thrombectomy devices and is its inaugural entry into the arterial space “Inari offers a comprehensive toolkit approach to arterial thrombectomy with an innovative over-the-wire system that provides physicians with the flexibility to aspirate and/or mechanically extract a clot,” a press release reads USA) performed the first commercial case with Artix on 19 October 2024 “The Artix thrombectomy system marks a significant advancement in peripheral arterial thromboembolism treatment,” said Bowman I expect Artix will take the place of open surgical repair in many of my arterial cases.” “There is a real clinical need to address chronic thrombi and decrease the risk of clot migration. Artix will raise the bar of effective arterial thrombectomy,” said Tom Tu, chief medical officer of Inari Medical. “We are excited to bring Inari’s core competency in thrombectomy to the arterial space with the goal of improving outcomes.” Save my name, email, and website in this browser for the next time I comment. Δdocument.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Rosen & Katz advised Inari.Reporting by Anirban Sen in New York; additional reporting by Sabrina Valle Milana Vinn and Pritam Biswas; Editing by Lisa Shumaker Our Standards: The Thomson Reuters Trust Principles., opens new tab , opens new tab Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. , opens new tabScreen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. © 2025 Reuters. All rights reserved Stryker made several small deals last year but lacked a larger acquisition like its nearly $5 billion proposal for Inari Medical Stryker’s proposed acquisition of Inari kicks off medtech M&A in 2025 after a flurry of deals last year makes a variety of devices including catheter-based mechanical thrombectomy systems to treat vascular disease said in the deal announcement that Inari’s product portfolio complements its neurovascular business Inari is expected to generate $603 million of revenue in 2024 compared with $494 million in 2023 and $383 million in 2022 according to presentation materials from Stryker The company brought in $51 million in 2019 the earliest data included in Stryker’s presentation Stryker CEO Kevin Lobo said in a statement that Inari’s “innovations elevate the standard of care for venous thromboembolism patients and will accelerate Stryker’s impact in endovascular procedures.” While the Inari purchase continues an active run of acquisitions for Stryker the nearly $5 billion price tag departs from the company’s recent history of executing smaller Lobo told investors in July 2024 that the company was planning a “very active deal pipeline.” However the executive noted the company tends to focus on smaller acquisitions of companies with fast-growing assets Stryker said in the announcement that more details on the deal and its impact on revenue operating margins and earnings per share would be discussed on its upcoming Jan Get the free daily newsletter read by industry experts Globus Medical and Thermo Fisher were among the companies to announce billion dollar deals this year while Medtronic and Boston Scientific called off acquisitions the DNA sequencing leader faced pressure to unwind its $8 billion acquisition of the cancer screening developer The free newsletter covering the top industry headlines Copyright ©2025. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishingCookie Settings MassDevice The Medical Device Business Journal — Medical Device News & Articles | MassDevice February 19, 2025 By The Portage, Michigan–based orthopedic and surgical device giant announced last month that it struck a deal to acquire Inari worth $4.9 billion Inari develops solutions for venous thromboembolism (VTE) clot removal without the use of thrombolytic drugs Stryker believes adding Inari brings an established peripheral vascular position to the company in the fast-growing VTE segment Stryker said Inari’s product portfolio is highly complementary to its Neurovascular business unit It includes two thrombectomy solutions — FlowTriever for treating pulmonary embolism (PE) and ClotTriever for thrombectomy in the peripheral vessels — plus emerging therapies The terms of the deal see Stryker acquire all outstanding shares of Inari common stock for $80 per share All conditions of the cash tender offer have been satisfied Copyright © 2025 · WTWH Media LLC and its licensors The material on this site may not be reproduced except with the prior written permission of WTWH Media Privacy Policy Learn how to describe the purpose of the image (opens in a new tab) Leave empty if the image is purely decorative We're working on a visual shortcode editor until then please follow these instructions Email us to support@plugin.builders for any problems 2025 (GLOBE NEWSWIRE) --  Stryker (NYSE: SYK) announced today a definitive agreement to acquire all of the issued and outstanding shares of common stock of Inari Medical representing a total fully diluted equity value of approximately $4.9 billion will bring a leading peripheral vascular position in the fast-growing segment of venous thromboembolism (VTE) to Stryker Inari’s innovative product portfolio is highly complementary to Stryker’s Neurovascular business and includes mechanical thrombectomy solutions for peripheral vascular diseases such as deep vein thrombosis and pulmonary embolism VTE impacts up to 900,000 lives in the United States with even more affected worldwide.1 People are at particularly high risk for this condition during or just after a hospitalization (with or without surgery) during cancer treatment and during or just after pregnancy.1 Inari provides solutions for VTE clot removal without the use of thrombolytic drugs “The acquisition of Inari expands Stryker's portfolio to provide life-saving solutions to patients who suffer from peripheral vascular diseases,” said Kevin Lobo “These innovations elevate the standard of care for venous thromboembolism patients and will accelerate Stryker’s impact in endovascular procedures.”  “Inari has positively impacted the lives of hundreds of thousands of patients through the development of purpose-built tools that address unmet patient needs,” said Drew Hykes “With Stryker’s capabilities and global infrastructure we will be even better positioned to accelerate the development of innovative new solutions and expand our footprint.” Under the terms of the definitive agreement Stryker will commence a tender offer for all outstanding shares of common stock of Inari for $80 per share in cash The boards of directors of both Stryker and Inari have unanimously approved the transaction Consummation of the tender offer is subject to a minimum tender of at least a majority of then-outstanding Inari common shares the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions Following successful completion of the tender offer Stryker will acquire all remaining shares not tendered in the offer through a second step merger at the same price as in the tender offer The transaction is anticipated to close by the end of the first quarter of 2025 Expected impacts to 2025 financial results will be discussed on Stryker’s upcoming fourth quarter 2024 earnings call scheduled for January 28 Additional information about this transaction is available on the Investor Relations section of Stryker.com https://investors.stryker.com/ Forward-Looking StatementsThis press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities law that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements including statements regarding the anticipated benefits to Stryker of the acquisition of Inari and the anticipated timeline to closing the transaction but are not limited to: uncertainties as to the timing of the offer and the subsequent merger; uncertainties as to how many of Inari’s stockholders will tender their shares in the offer; the failure to satisfy any of the closing conditions to the acquisition of Inari including the expiration or termination of the Hart-Scott-Rodino Antitrust Improvements Act waiting period (and the risk that such governmental approval may result in the imposition of conditions that could adversely affect the expected benefits of the transaction); delays in consummating the acquisition of Inari or the risk that the transaction may not close at all; unexpected liabilities charges or expenses in connection with the acquisition of Inari; the effects of the proposed Inari transaction (or the announcement thereof) on the parties’ relationships with employees other business partners or governmental entities; weakening of economic conditions that could adversely affect the level of demand for our products; geopolitical risks including from international conflicts and elections in the United States and other countries lead to increased market volatility; pricing pressures generally including cost-containment measures that could adversely affect the price of or demand for our products; changes in foreign currency exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect approval of new products including the acquisition of Inari; our ability to realize anticipated cost savings; potential negative impacts resulting from climate change or other environmental social and governance and sustainability related matters; the impact on our operations and financial results of any public health emergency and any related policies and actions by governments or other third parties; and breaches or failures of our or our vendors' or customers' information technology systems or products Additional information concerning these and other factors is contained in our filings with the U.S Securities and Exchange Commission (the “SEC”) including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q The foregoing factors should also be read in conjunction with the risks and cautionary statements discussed or identified in Inari’s filings with the SEC including Inari’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q The parties disclaim any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in expectations or in events conditions or circumstances on which those expectations may be based or that affect the likelihood that actual results will differ from those contained in the forward-looking statements Copies of the documents filed with the SEC by Inari will be available free of charge on Inari’s website or by contacting Inari Investor Relations at IR@inarimedical.com Inari stockholders may obtain free copies of the tender offer materials by contacting the information agent for the tender offer that will be named in the Tender Offer Statement Stryker’s ContactsJason Beach, Vice President, Investor Relations at 269-385-2600 or jason.beach@stryker.com Yin Becker, Vice President, Chief Corporate Affairs Officer at 269-385-2600 or yin.becker@stryker.com Inari’s ContactNeil Bhalodkar, Vice President, Investor Relations at neil.bhalodkar@inarimedical.com 1 https://www.cdc.gov/blood-clots/data-research/facts-stats/index.html Life sciences leader to oversee data management and deployment strategy Bonazzi is tasked with further elevating the company's AI-powered predictive design capabilities for ongoing development of step-change seed products Data management and deployment are fundamental to Inari where scientists are leveraging the latest breakthroughs in artificial intelligence to rapidly build exponential new plant genomic knowledge and applications that guide its unmatched multiplex gene editing toolbox and digital infrastructure to further accelerate the company's ability to bring truly novel products to market so we are thrilled to have Vivien's leadership in this area," said Inari CEO Ponsi Trivisvavet "Her experience helps fortify our cutting-edge SEEDesign™ technology platform and her biomedical background brings fresh perspectives to help us unlock the full potential of seed." "I have dedicated my career to utilizing data to benefit people Helping to drive Inari's innovative technology to support global food system sustainability is a meaningful opportunity to continue this mission," said Bonazzi " I am eager to leverage my expertise to enhance Inari's capabilities and contribute to this essential work." Bonazzi served as chief biomedical data scientist and managing director at Deloitte Consulting LLP She previously was a senior advisor in the Office of the Director at National Institutes of Health (NIH) and co-founded the NIH Data Commons pioneering new methods for sharing and analyzing biomedical data She has also held several roles in both the private and nonprofit sectors Invitrogen and The Institute for Genomic Research Inari today marked the grand opening of a new 42,000-square-foot facility in West Lafayette The $20 million expansion – Inari's largest to.. Agriculture Artificial Intelligence Environmental Products & Services STEM (Science, Tech, Engineering, Math) January 6, 2025 By Shares of Inari Medical were trading around $48 earlier today The companies expect to close the transaction by the end of the first quarter of 2025 pending a tender of a majority of outstanding Inari shares regulatory approval and other customary conditions Stryker characterized Inari’s product portfolio for venous thromboembolism (VTE) as “innovative [and] highly complementary to Stryker’s Neurovascular business,” which develops and manufactures devices and systems for vascular access “The acquisition of Inari expands Stryker’s portfolio to provide life-saving solutions to patients who suffer from peripheral vascular diseases,” Stryker Chair and CEO Kevin Lobo said in a news release Medical Design & Outsourcing: How LimFlow’s foot-saving system prevents amputations in patients with no other options “Inari has positively impacted the lives of hundreds of thousands of patients through the development of purpose-built tools that address unmet patient needs,” Inari CEO Drew Hykes said in the release Stryker’s M&A offensive: Andy Pierce discusses some of the devicemaker’s biggest deals — and a few seen as ‘head-scratchers’ Stryker cited CDC statistics showing that up to 900,000 people in the U.S Stryker executives will discuss their financial expectations from the deal on Jan 28 during the company’s fourth quarter 2024 earnings call David Saxon and Joseph Conway said they expect the deal to be about 30 basis points accretive to Stryker’s organic growth and about 70 basis points accretive to gross margin but about 2.4% dilutive to Stryker’s 2025 estimated earnings per share BTIG analysis Ryan Zimmerman expects no regulatory hurdles but said peripheral vascular competition from Penumbra is a concern with the company taking peripheral vascular market share with its Lightning Flash and Bolt launches “Even with [Stryker’s’ muscle behind [Inari] we expect that [Penumbra] will grow its Thrombectomy business above market similar to what we’ve seen in Neurovascular,” Zimmerman wrote in an email to clients “Whether or not this matters to [Stryker] in the near-term though may be less of a concern but longer-term it will need to overcome this.” Department of Justice’s ongoing investigation into Inari sales practices but said Stryker’s deal shows the company’s “comfort in navigating this issue.” today announced it has entered into a joint venture with 6 Dimensions Capital (“6 Dimensions”) and its successor fund 120 Capital a medical device platform incubated by 6 Dimensions and 120 Capital to provide access to Inari’s innovative technology for patients with significant unmet needs in Greater China “This joint venture allows many different types of patients and hospitals to access and benefit from Inari’s technologies across multiple segments of China’s complex healthcare delivery system,” said Drew Hykes “We are excited to partner with 6 Dimensions and 120 Capital to introduce our products through VFLO to the rapidly expanding interventional market in Greater China." “Inari is the leader in mechanical thrombectomy and our strategic partnership is significant and game-changing for the current standard of care in China,” said Rebecca Zhu “We share Inari’s unwavering commitment to developing innovative technologies for underserved patients and believe we can make a meaningful difference in the lives of those suffering from venous and other vascular diseases in China.” The joint venture will allow Inari to commercialize its devices through VFLO’s established infrastructure and deep commercial expertise in Greater China VFLO will also have the right to use Inari’s technology to manufacture products for domestic sale in Greater China VFLO’s expertise and commitment to patients are complementary to Inari's global strengths in the development and sale of venous thrombectomy and other products About VFLO MedicalVFLO is a medical device company based in China that was established in 2021 by 6 Dimensions and 120 Capital and a team of prominent and experienced industry professionals to create a leading medical device platform with a focus on making innovative vascular therapies available to Chinese patients Forward-Looking StatementsStatements in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties Forward-looking statements contained in this press release may be identified by the use of words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions Forward-looking statements are subject to inherent uncertainties risks and assumptions that are difficult to predict and actual outcomes and results could differ materially due to a number of factors among other things: the ability of the strategic venture to obtain regulatory approvals in China; the ability of VFLO to develop and commercialize venous thromboembolism and other products in China; the potential for and ability to receive any payments from VFLO; and the potential clinical benefits of Inari’s technologies in China These and other risks and uncertainties include those described more fully in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” and elsewhere in its Annual Report on Form 10-K for the period ended December 31 and in Inari’s other reports filed with the U.S Forward-looking statements contained in this announcement are based on information available to Inari as of the date hereof and are made only as of the date of this release Inari undertakes no obligation to update such information except as required under applicable law These forward-looking statements should not be relied upon as representing Inari’s views as of any date subsequent to the date of this press release investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of Inari Investor Contact:Neil BhalodkarIR@inarimedical.com The SEEDesign™ company secured significant support from new and returning investors as it seeks to redefine the seed technology landscape today announced the completion of a $144 million fundraise fueled by the performance of its first-generation products and progress toward commercialization With cumulative equity raised of more than $720 million the new capital underpins the leading pure-play seed technology company's financial strength and paves the way for long-term growth The fundraise attracted significant support from new investors who represented most of the capital raised in the round - including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and a large financial investor collaborating on forthcoming agriculture projects Existing investors including Hanwha Impact the State of Michigan Retirement System and company founder Flagship Pioneering also contributed "This round of funding underscores investors' steadfast confidence in our business and ability to bring truly impactful solutions to market," said Inari CEO Ponsi Trivisvavet "Inari is poised to redefine the seed technology landscape as we work to empower the industry with high-performing products on a global scale In being a true business partner with seed companies we aim to achieve our vision of a sustainable food system by designing seeds that support a thriving planet The company is singularly focused on seed technology for large-acre crops with its first wave of products corn and wheat to date is generating excitement from seed companies both within and outside the U.S The company brings a unique approach to the seed industry by focusing purely on innovation and operating an asset-light business model that reflects the company's commitment to supporting Flagship Pioneering Managing Partner and Inari Board member Stephen Berenson added: "With its pioneering technology Inari is well poised to create a new paradigm for the seed industry delivering significant value to seed companies and their farmer customers." today reported financial results for its third quarter ended September 30 Third Quarter Financial and Recent Business Highlights “We continue to drive strong performance across the entire Inari portfolio as we advance our leading position in large underserved vascular markets,” said Drew Hykes we have several important catalysts on the horizon we look forward to the presentation of our PEERLESS data at the Transcatheter Cardiovascular Therapeutics (TCT) Symposium tomorrow our upcoming full market release of Artix following FDA clearance earlier this month and our plans to offer Inari solutions in Japan and China We’ve never been more committed to our mission of addressing unmet patient needs with purpose-built solutions.” Third Quarter 2024 Financial ResultsRevenue was $153.4 million for the third quarter of 2024 up 21.4% compared to $126.4 million for the third quarter of 2023 The increase over the prior year quarter was driven primarily by an expansion in our sales territories Gross profit was $133.5 million for the third quarter of 2024 compared to $111.9 million for the third quarter of 2023 Gross margin was 87.1% for the third quarter of 2024 compared to 88.5% for the third quarter of 2023 The year-over-year change was primarily due to product mix the ramp up costs associated with new products and increasing internationalization of the business Operating expenses for the third quarter of 2024 were $147.1 million compared to $109.8 million for the third quarter of 2023 The increase was mainly driven by personnel-related expenses including commissions and share-based compensation associated with increased headcount to fund the expansion of the commercial and support organizations; change in fair value of the contingent consideration liability; capitalized software impairment and related costs; professional fees including legal expenses; amortization expense related to an intangible asset acquired in the LimFlow acquisition GAAP operating loss was $13.6 million in the third quarter of 2024 compared to a $2.1 million GAAP operating income for the third quarter of 2023 GAAP operating loss improved by $8.8 million Non-GAAP operating loss was $0.4 million in the third quarter of 2024 Non-GAAP operating income was $4.8 million in the third quarter of 2023 non-GAAP operating loss improved by $12.8 million The following items were excluded from the non-GAAP operating loss in the third quarter of 2024: change in fair value of contingent consideration liability of $6.6 million capitalized software impairment and related costs of $3.8 million acquired intangible asset amortization of $2.5 million and acquisition-related expenses of $0.3 million The following items were excluded from the non-GAAP operating income in the third quarter of 2023: acquisition-related expenses of $2.7 million Net loss was $18.4 million for the third quarter of 2024 and net loss per share was $0.31 on a weighted-average basic and diluted share count of 58.4 million compared to net income of $3.2 million and net income per share of $0.06 on a weighted-average basic share count of 57.4 million and $0.05 on a weighted-average diluted share count of 58.6 million Full Year 2024 Revenue Guidance and Operating Income Outlook Webcast and Conference Call InformationInari Medical will host a conference call to discuss the third quarter 2024 financial results after market close on October 28 The conference call can be accessed live by dialing (844) 825-9789 for domestic callers or (412) 317-5180 for international callers The live webinar and presentation may be accessed by visiting the Events Section of the Inari investor relations website at ir.inarimedical.com Use of Non-GAAP Financial MeasuresThis press release contains references to non-GAAP operating income (loss) which is considered a non-GAAP financial measure This means that non-GAAP operating income (loss) is determined by methods other than in accordance with accounting principles generally accepted in the United States (GAAP) non-GAAP operating income (loss) excludes from GAAP operating income (loss) the following items: amortization of acquired intangible assets fair value adjustment to our contingent consideration liability and capitalized software impairment and related costs We present the non-GAAP operating income (loss) to exclude these charges because we believe these charges are significantly impacted by the timing and valuation of acquisitions such as our LimFlow acquisition completed in the fourth quarter of 2023 as well as other non-recurring factors such as wind down of certain projects Our management believes the presentation of non-GAAP operating income (loss) is useful because it provides meaningful comparisons to prior periods and provides visibility to our underlying operating performance and an additional means to evaluate the cost and expense trends excluding the impact of these acquisition-related items and other non-recurring transactions which are not related to our core business operations Our definition of non-GAAP operating income (loss) may differ from similarly titled measures used by others Non-GAAP operating income (loss) should be considered supplemental to financial information prepared in accordance with GAAP We encourage investors to review the reconciliation of non-GAAP operating income (loss) to GAAP operating income (loss) which has been provided in the financial statement tables included in this press release These are the guiding principles that form the ethos of Inari Medical We are committed to improving lives in extraordinary ways by creating innovative solutions for both unmet and underserved health needs In addition to our purpose-built solutions and program development to improve patient outcomes We are passionate about our mission to establish our treatments as the standard of care for venous thromboembolism and four other targeted disease states Learn more at www.inarimedical.com and connect with us on LinkedIn Forward Looking StatementsStatements in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties Forward-looking statements include expectations regarding Inari’s core business its ability to integrate and related expectations for the LimFlow acquisition and timing for achieving sustained operating profitability and are based on Inari’s current expectations These and other risks and uncertainties include those described more fully in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” and elsewhere in its Annual Report on Form 10-K for the period ended December 31 Investor Contact:Marissa BychGilmartin Group LLCIR@inarimedical.com ________________(a) The acquisition-related expenses primarily include integration severance and retention related expenses.(b) The capitalized software impairment and related costs primarily include the write-off of capitalized software and related wind down costs which were recorded within the research and development expense within the condensed consolidated statements of operations The following tables present the amount of revenue in VTE and Emerging Therapies recognized for the periods presented (in thousands This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page Stryker has announced a definitive agreement to acquire all of the issued and outstanding shares of common stock of Inari Medical for US$80 per share in cash representing a total fully diluted equity value of approximately US$4.9 billion “The acquisition of Inari expands Stryker’s portfolio to provide life-saving solutions to patients who suffer from peripheral vascular diseases,” said Kevin Lobo “Inari has positively impacted the lives of hundreds of thousands of patients through the development of purpose-built tools that address unmet patient needs,” said Drew Hykes Stryker shares that it will commence a tender offer for all outstanding shares of common stock of Inari for US$80 per share in cash Stryker advises that the transaction is anticipated to close by the end of the first quarter of 2025 Expected impacts to 2025 financial results will be discussed on Stryker’s upcoming fourth quarter 2024 earnings call scheduled for 28 January 2025 and website in this browser for the next time I comment Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" BREAKING: Berkshire Shares Slide On News Of Buffett Exit Inari Medical (NARI) stock skyrocketed Tuesday after Stryker (SYK) agreed to buy the medical devices company for $4.9 billion Rumors of the deal sent Inari stock flying almost 31% during the final hour of trading on Monday shares flew by another double-digit percentage after hours Inari sells devices that treat venous thromboembolism a condition that occurs when blood clots form in the veins This complements Stryker's neurovascular business "With Inari as the mechanical thrombectomy leader in pulmonary embolism (PE) and deep vein thrombosis (DVT) Inari's products could now bolster the neurovascular subsegment that represents a $1.3 billion annual run-rate as of last quarter," William Blair analyst Margaret Kaczor Andrew said in a report to clients including treatments for deep vein thrombosis — when a clot forms in the leg or pelvis — and pulmonary embolism part of the blood clot breaks off and heads to the lungs Inari also sells products that pull clots out of the limbs Andrew of William Blair estimates the adjacent products have a combined total addressable market of $3.1 billion They will "allow Stryker to expand beyond stroke into attractive vascular thrombectomy markets that have been growing high teens to 20%-plus domestically over the last several quarters," she said Inari gives it access to a combined $10 billion-plus U.S opportunity on top of its already $4 billion neurovascular TAM (total addressable market)." Andrew says the purchase price of $80 per share is 6.5 times her 2025 sales estimate for Inari Medical is trading at around 6.6 times its expected sales for the year The deal is expected to close in the first quarter "While there are numerous private companies and NARI is the market share leader in both deep vein thrombosis (DVT) and pulmonary embolism (PE)," Thibault said The potential comes amid a boom for medical devices and surgeries Many people delayed elective procedures at the height of the pandemic BTIG's Thibault notes analysts expect Inari Medical to report greater than 20% sales growth for 2024 Inari has never missed sales expectations in any quarter since going public in 2020 Inari has maintained gross margins in the high-80% range and was eyeing sustained operating profit this year says the deal aligns with Stryker's mergers and acquisitions strategy The medtech behemoth closed six deals worth a combined $1.6 billion in the first nine months of 2024 "We believe Inari aligns with management's M&A strategy after the company's expectation to 'stay active on the M&A front' in late October," she said Stryker management has been vocal that peripheral vascular was one of its high areas of interest." Follow Allison Gatlin on X/Twitter at @IBD_AGatlin Axsome Flashes A Bearish Signal On Mixed Results In Alzheimer's Agitation IBD 50's GeneDx Adds To Nearly 2,700% Sprint With FDA Guide On AI Find The Best Long-Term Investments With IBD Long-Term Leaders See IBD Stock Lists & Get Pass/Fail Ratings For All Your Stocks With IBD Digital Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks Trade war perils are swirling around ocean shippers and the ports that serve them Get instant access to exclusive stock lists expert market analysis and powerful tools with 2 months of IBD Digital for only $20 Learn how you can make more money with IBD's investing tools Real-time quote and/or trade prices are not sourced from all markets Ownership data provided by LSEG and Estimate data provided by FactSet MarketSurge and other marks are trademarks owned by Investor's Business Daily The acquisition brings together Inari's thrombectomy solutions with Stryker's neurovascular portfolio Stryker has completed the previously announced acquisition of Inari Medical for a total equity value of nearly $4.9bn marking a significant expansion into the venous thromboembolism (VTE) market The transaction brings together Inari’s thrombectomy solutions with Stryker’s neurovascular portfolio Last month, Stryker entered a definitive agreement to acquire all issued and outstanding shares of Inari Medical’s common stock Stryker CEO and chair Kevin Lobo said: “The acquisition of Inari Medical marks a significant milestone in expanding our interventional endovascular portfolio The tender offer by Stryker’s wholly owned subsidiary for all outstanding shares of Inari Medical expired on 18 February 2025 Don’t let policy changes catch you off guard Stay proactive with real-time data and expert analysis or approximately 81.69% of Inari’s outstanding common stock were tendered and not withdrawn before the deadline Stryker’s Merger Sub has accepted all shares tendered for payment and will promptly settle the transactions Stryker proceeded with the acquisition through a merger following the tender offer’s completion each share of Inari common stock not already owned by Inari was converted into the right to receive $80 in cash per share Inari Medical now operates as a wholly owned subsidiary of Stryker Inari Medical is known for its mechanical thrombectomy solutions including the FlowTriever System for pulmonary embolism treatment and the ClotTriever System for peripheral vessel thrombectomy Give your business an edge with our leading industry insights View all newsletters from across the GlobalData Media network a medical device company with a mission to treat and transform the lives of patients suffering from venous and other vascular diseases it received national reimbursement approval from the Japanese Ministry of Health Labor and Welfare (MHLW) for its ClotTriever Thrombectomy System for DVT This announcement follows the regulatory approval of the ClotTriever system by the Pharmaceuticals and Medical Devices Agency (PMDA) in December 2023 Due to ClotTriever’s unique mechanism of action for complete wall-to-wall thrombus removal in patients suffering from DVT MHLW created a new functional category that is separate from other catheter-based therapies This new functional category comes with a reimbursement premium based upon ClotTriever’s wealth of clinical data showing safety and efficacy in removing various types of thrombi To facilitate commercialization of the ClotTriever system in Japan Inari has entered into a distribution agreement with Medikit Co. a market leading vascular medical device manufacturer serving Japan Inari plans to accelerate initiation of its 100-patient Post Market Surveillance study “MHLW’s approval of reimbursement for ClotTriever under a newly designated functional category marks a transformative milestone for Inari in Japan,” said Drew Hykes “This decision underscores the value of ClotTriever in addressing unmet clinical needs and we are thrilled to collaborate with Medikit to bring this innovative solution to Japanese DVT patients improving lives and advancing care in the near future we look forward to bringing our broader portfolio of purpose-built tools to the Japanese market.” The ClotTriever system is 510(k)-cleared by U.S More than 75,000 procedures have been conducted with ClotTriever globally two-year outcomes were reported from the 500-patient ClotTriever CLOUT Registry showing a strong safety profile and low rates of post-thrombotic syndrome.1,2,3 ClotTriever is the most studied thrombectomy device for DVT including the ongoing Randomized Controlled Trial comparing ClotTriever to anticoagulation alone for patients with DVT.4 One-Year Clinical Outcomes Following Mechanical Thrombectomy for Deep Vein Thrombosis: A CLOUT Registry Analysis Six-Month Outcomes of Mechanical Thrombectomy for Treating Deep Vein Thrombosis: Analysis from the 500-Patient CLOUT Registry Interim two-year outcomes from the fully enrolled CLOUT registry Rationale and Design of the DEFIANCE Study: A Randomized Controlled Trial of Mechanical Thrombectomy Versus Anticoagulation Alone for Iliofemoral Deep Vein Thrombosis Inari Medical has announced that it received national reimbursement approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) for its ClotTriever thrombectomy system for deep vein thrombosis due to ClotTriever’s mechanism of action for wall-to-wall thrombus removal in patients suffering from deep vein thrombosis (DVT) the MHLW have created a new functional category that is separate from other catheter-based therapies This new functional category comes with a reimbursement premium based on clinical data showing the system’s efficacy in removing various types of thrombi To facilitate commercialisation of the ClotTriever system in Japan Inari has entered into a distribution agreement with Medikit a vascular medical device manufacturer serving Japan the USA and over 30 other countries worldwide Inari plans to accelerate initiation of its 100-patient post market surveillance study The ClotTriever system is 510k-cleared by US Food and Drug Administration and CE-marked for treatment of DVT two-year outcomes were reported from the 500-patient ClotTriever CLOUT registry showing a strong safety profile 2025 (GLOBE NEWSWIRE) -- Stryker (NYSE: SYK) today announced that it is commencing a cash tender offer to purchase all of the issued and outstanding shares of common stock of Inari Medical (NASDAQ: NARI) for $80.00 per share in cash The offer is being made pursuant to the previously announced merger agreement The tender offer is scheduled to expire at one minute past 11:59 p.m unless extended in accordance with the terms of the merger agreement The tender offer is subject to various conditions including the minimum tender of at least a majority of the issued and outstanding shares of Inari common stock Securities and Exchange Commission (the “SEC”) a tender offer statement on Schedule TO which includes the terms of the tender offer Inari filed a Schedule 14D-9 with the SEC containing the recommendation of its Board of Directors that Inari stockholders accept the tender offer and tender their shares related letter of transmittal (together with any amendments or supplements thereto) and other tender offer documents can be obtained free of charge at the website maintained by the SEC at www.sec.gov or by contacting the information agent for the tender offer Innisfree M&A Incorporated as described in the tender offer documents Stryker is a global leader in medical technologies and The company offers innovative products and services in MedSurg Orthopaedics and Spine that help improve patient and healthcare outcomes Stryker impacts more than 150 million patients annually More information is available at www.stryker.com Inari is committed to improving lives in extraordinary ways by creating innovative solutions for both unmet and underserved health needs In addition to Inari’s purpose-built solutions Inari leverages its capabilities in education Inari is passionate about its mission to establish its treatments as the standard of care for venous thromboembolism and four other targeted disease states Learn more at www.inarimedical.com and connect with Inari on LinkedIn This press release contains information that includes or is based on forward-looking statements that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements including statements regarding the anticipated timeline to closing the acquisition of Inari but are not limited to: uncertainties as to how many of Inari’s stockholders will tender their shares in the offer; the failure to satisfy any of the closing conditions to the acquisition of Inari that could adversely affect the level of demand for our or Inari’s products; geopolitical risks including cost-containment measures that could adversely affect the price of or demand for our or Inari’s products; changes in foreign currency exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect approval of new products social and governance and sustainability related matters; the impact on our operations and financial results of any public health emergency and any related policies and actions by governments or other third parties; and breaches or failures of our or our vendors’ or customers’ information technology systems or products Additional information concerning these and other factors is contained in our filings with the SEC For investor inquiries please contact:Jason Beach, Vice President, Investor Relations at 269-385-2600 or jason.beach@stryker.com For media inquiries please contact:Yin Becker Chief Corporate Affairs Officer at 269-385-2600 or yin.becker@stryker.com Stryker. "Stryker announces definitive agreement to acquire Inari Medical, Inc., providing entry into high-growth peripheral vascular segment." Inari Medical. "What is Venous Thromboembolism (VTE)?" Stryker. "Medical and surgical equipment." Reuters. "Device maker Stryker strikes $4.9 billion deal for Inari Medical." Medical Design and Outsourcing November 4, 2024 By Inari Medical’s Artix arterial thrombectomy system includes the Artix MT mechanical thrombectomy catheter and Artix Thin-Walled Thrombectomy Sheath Working with physicians to refine Artix since then Inari has won FDA 510(k) clearances in 2023 and in October 2024 to set up the system’s full market release by the end of 2024 “With Artix we aim to raise the bar and set a new standard for arterial thrombectomy,” the company said in a brief social media announcement about that latest FDA clearance “Artix is a dual aspiration [and] mechanical arterial thrombectomy solution that delivers control allowing physicians to capture all clots in one system.” Inari Medical employees in sales and marketing said in their own social media posts that the first commercial case took place on Oct Inari Medical’s Artix arterial thrombectomy system includes the FlowSaver Blood Return System (center) the Artix Thin-Walled Thrombectomy Sheath (Blue) and the Artix MT mechanical thrombectomy device (at the distal end of the blue catheter) The Artix MT and Artix AX are both intended for use in the peripheral vasculature and indicated for “the non-surgical removal of emboli and thrombi from peripheral blood vessels; and injection and/or aspiration of contrast media and other fluids into or from a blood vessel.” over-the-wire aspiration catheter that comes in lengths of 85 cm and 115 cm while the Artix MT is designed to grab and remove acute or chronic blood clots Both of the catheters are introduced with the Artix thin-walled sheath, which has an expanding nitinol funnel catheter at the end for “optimal clot capture,” Inari said in an October 2024 presentation to investors Inari Medical’s Artix MT mechanical thrombectomy catheter features an expandable nitinol basket for capturing and removing blood clots Because aspiration catheters remove blood along with clots the FlowSaver Blood Return System is designed to minimize intraprocedural blood loss The system removes clot from aspirated blood for reinfusion into the patient using 40-micron filtration This image shows the distal ends of the catheters in Inari Medical’s Artix thrombectomy system [Image courtesy of Inari Medical] The device developer says there’s a “lack of purpose-built tools” for ALI patients which more than half undergoing open embolectomy The device developer estimates the total addressable market (TAM) for ALI is around $600 million in the U.S ALI is just one of the Emerging Therapies segments for Inari Medical, which estimates U.S. TAMs for the rest as approximately $1.5 billion for chronic limb-threatening ischemia (CLTI, treated with Inari’s LimFlow system) about $1 billion for dialysis access management (DAM) and another $1 billion for chronic venous disease (CVD) patients each year present with ALI or other arterial thromboembolism in the peripheral vasculature such as acute visceral ischemia and certain cases of chronic limb ischemia Inari Medical’s FlowSaver Blood Return System [Image courtesy of Inari Medical] “We believe the best way to treat ALI and related diseases is to quickly safely and effectively remove the clot,” the company continued “We are purposefully designing our Artix system to effectively remove thrombosis to alleviate the symptoms of these underlying and emergent diseases and we plan to continue developing solutions for these disease states.” Subscribe to Medical Design & Outsourcing share and interact with the leading medical design engineering magazine today DeviceTalks is a conversation among medical technology leaders webinars and one-on-one exchanges of ideas & insights MassDevice is the leading medical device news business journal telling the stories of the devices that save lives Copyright © 2025 WTWH Media, LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media LLC. Site Map | Privacy Policy | RSS News and Analysis on Global Agri-Tech Innovation Inari Agriculture’s $103 million Series F was one of the standout investment deals of last year. It is off to a bang in 2025, announcing the completion of a new $144 million fundraise, which the Cambridge, Massachusetts-based company says is fuelled by the performance of its first-generation products and progress toward commercialisation. The new fundraise puts its cumulative equity raised at more than $720 million – proof, the company says, in its advanced plant breeding technology and financial strength. The fundraise attracted significant support from new investors, who represented most of the capital raised in the round – including a wholly owned subsidiary of the Abu Dhabi Investment Authority. Existing investors including Hanwha Impact, NGS Super, the State of Michigan Retirement System and company founder Flagship Pioneering also contributed. “This round of funding underscores investors’ steadfast confidence in our business and ability to bring truly impactful solutions to market,” says Inari CEO Ponsi Trivisvavet. “Inari is poised to redefine the seed technology landscape as we work to empower the industry with high-performing products on a global scale.” Inari is at the forefront of breeding innovation, combining AI-powered predictive design with multiplex gene editing to deliver step-change outcomes. Inari claims that multiplex gene editing, a cutting-edge technique that allows for simultaneous modifications of multiple genes within a plant’s DNA, enables precise alterations that can lead to significant improvements in crop yield and resource efficiency, such as reducing water and nitrogen fertiliser needs by up to 40% while increasing yields by 10-20% for crops like corn, soybeans, and wheat, Its proprietary tech platform, called SEEDesign, combines artificial intelligence with predictive design to create detailed blueprints for genetic modifications. This integration of data analytics helps identify optimal genetic pathways for enhancing plant performance, allowing for more effective and efficient breeding processes compared to traditional methods. The company is focused on seed technology for large-acre crops with its first wave of products, and its progress in soybeans, corn and wheat to date is attracting seed companies both within and outside the US. The company also claims it brings a unique approach to the seed industry by focusing purely on innovation and operating an asset-light business model. It focuses on collaborating with independent seed producers rather than competing against them. It believes this strategy allows it to enhance existing products without introducing competing brands, fostering a cooperative environment that builds trust and mutual value for both seed companies and farmers. Managing partner at Flagship Pioneering and Inari Board member Stephen Berenson adds: “With its pioneering technology, incredible team and commercial traction, Inari is well poised to create a new paradigm for the seed industry, delivering significant value to seed companies and their farmer customers.” Scientists are learning to help tomatoes beat the heat14-Nov-2024By Oliver MorrisonBy studying tomato varieties in exceptionally hot growing seasons, biologists at Brown University have identified the growth cycle phase when tomatoes are most vulnerable to extreme heat, as well as the mechanisms that make the plants more heat tolerant. Gene editing promises to futureproof the wine sector08-Nov-2024By Oliver MorrisonGene editing technology could help the global wine industry combat the effects of climate change, says Lithuanian specialist Caszyme. WATCH: Parametric insurance - a new era of coveragePaid for and in partnership with EarthDaily Agro Driving sustainable and climate-smart practices in South AmericaPaid for and in partnership with Rethink Events Ltd Reimagining aquafeed: Paving the way for scalable next-gen solutionsPaid for and content provided by Rethink Events Ltd Stryker (NYSE: SYK) has completed the acquisition of Inari Medical a company specializing in venous thromboembolism (VTE) clot removal solutions The acquisition provides Stryker entry into the fast-growing peripheral vascular segment The transaction was completed through a cash tender offer at $80.00 per share with approximately 81.69% (48,504,444 shares) of Inari's outstanding shares validly tendered which includes the FlowTriever System for pulmonary embolism treatment and the ClotTriever System for peripheral vessel thrombectomy complements Stryker's Neurovascular business Following the merger completion on February 19 Inari has become a wholly owned subsidiary of Stryker and will be delisted from the Nasdaq Global Select Market Stryker (NYSE: SYK) ha completato l'acquisizione di Inari Medical un'azienda specializzata nelle soluzioni per la rimozione dei coaguli da tromboembolismo venoso (VTE) Questa acquisizione permette a Stryker di entrare nel segmento vascolare periferico in rapida crescita La transazione è stata completata attraverso un'offerta pubblica di acquisto in contante a $80.00 per azione con circa 81.69% (48.504.444 azioni) delle azioni in circolazione di Inari validamente offerte che include il sistema FlowTriever per il trattamento dell'embolia polmonare e il sistema ClotTriever per la trombectomia dei vasi periferici completa il business Neurovascolare di Stryker Dopo il completamento della fusione il 19 febbraio 2025 Inari è diventata una sussidiaria interamente controllata da Stryker e sarà esclusa dal Nasdaq Global Select Market Stryker (NYSE: SYK) ha completado la adquisición de Inari Medical una empresa especializada en soluciones para la eliminación de coágulos por tromboembolismo venoso (VTE) Esta adquisición proporciona a Stryker una entrada en el segmento vascular periférico de rápido crecimiento La transacción se completó a través de una oferta pública de compra en efectivo a $80.00 por acción con aproximadamente 81.69% (48,504,444 acciones) de las acciones en circulación de Inari válidamente ofrecidas que incluye el sistema FlowTriever para el tratamiento de la embolia pulmonar y el sistema ClotTriever para la trombectomía de vasos periféricos complementa el negocio Neurovascular de Stryker Tras la finalización de la fusión el 19 de febrero de 2025 Inari se ha convertido en una subsidiaria de propiedad total de Stryker y será deslistada del Nasdaq Global Select Market Stryker (NYSE: SYK)는 정맥 혈전 색전증(VTE) 응고 제거 솔루션을 전문으로 하는 Inari Medical의 인수를 완료했습니다 이번 인수로 Stryker는 빠르게 성장하는 말초 혈관 부문에 진입하게 되었습니다 약 81.69% (48,504,444주)의 Inari의 발행 주식이 유효하게 제안되었습니다 Inari의 제품 포트폴리오는 폐색전증 치료를 위한 FlowTriever 시스템과 말초 혈관 혈전 제거를 위한 ClotTriever 시스템을 포함하고 있으며 2025년 2월 19일 합병 완료 후 Inari는 Stryker의 완전 자회사로 전환되며 Stryker (NYSE: SYK) a finalisé l'acquisition de Inari Medical une entreprise spécialisée dans les solutions d'élimination des caillots liés à l'embolie thrombo-vasculaire (VTE) Cette acquisition permet à Stryker d'entrer sur le segment vasculaire périphérique en pleine expansion La transaction a été réalisée par le biais d'une offre publique d'achat en espèces à 80,00 $ par action avec environ 81,69% (48 504 444 actions) des actions en circulation d'Inari valablement proposées qui comprend le système FlowTriever pour le traitement de l'embolie pulmonaire et le système ClotTriever pour la thrombectomie des vaisseaux périphériques complète l'activité Neurovasculaire de Stryker Suite à la finalisation de la fusion le 19 février 2025 Inari est devenue une filiale entièrement détenue de Stryker et sera retirée du Nasdaq Global Select Market Stryker (NYSE: SYK) hat die Übernahme von Inari Medical abgeschlossen das sich auf Lösungen zur Entfernung von Blutgerinnseln bei venösem Thromboembolismus (VTE) spezialisiert hat Die Übernahme ermöglicht Stryker den Eintritt in das schnell wachsende Segment der peripheren Gefäße Die Transaktion wurde durch ein Barangebot zu 80,00 $ pro Aktie abgeschlossen wobei etwa 81,69% (48.504.444 Aktien) der ausstehenden Aktien von Inari gültig angeboten wurden zu dem das FlowTriever-System zur Behandlung von Lungenembolie und das ClotTriever-System zur Thrombektomie von peripheren Gefäßen gehört ergänzt das Neurovaskulargeschäft von Stryker Februar 2025 ist Inari eine hundertprozentige Tochtergesellschaft von Stryker geworden und wird vom Nasdaq Global Select Market delistet This strategic acquisition marks Stryker's decisive entry into the high-growth peripheral vascular segment specifically targeting the venous thromboembolism (VTE) market The integration of Inari Medical's innovative drug-free mechanical thrombectomy solutions - FlowTriever and ClotTriever - significantly strengthens Stryker's endovascular portfolio currently valued at approximately $4.5 billion and growing at a 8-10% annual rate represents a substantial opportunity for Stryker Inari's technology addresses a critical medical need with a drug-free approach to clot removal which reduces bleeding risks and complications associated with traditional thrombolytic treatments The acquisition creates notable synergies with Stryker's Neurovascular division potentially accelerating market penetration through:Expanded sales channel access and cross-selling opportunitiesEnhanced R&D capabilities for next-generation thrombectomy devicesOperational efficiencies in manufacturing and distribution while representing a premium to Inari's trading price is strategically justified given the company's strong market position and growth trajectory in the VTE space The high tender participation rate of 81.69% indicates strong shareholder confidence in the deal's value proposition This acquisition positions Stryker to capture a larger share of the expanding endovascular market particularly as healthcare systems increasingly focus on minimally invasive treatments The complementary nature of Inari's product portfolio suggests a smooth integration process though careful attention to sales force integration and maintaining Inari's innovative culture will be important for realizing the full potential of this strategic move Stryker is a global leader in medical technologies and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. More information is available at www.stryker.com. For investor inquiries please contact:Jason Beach, Vice President, Finance and Investor Relations at 269-385-2600 or jason.beach@stryker.com For media inquiries please contact: Yin Becker, Vice President, Chief Corporate Affairs Officer at 269-385-2600 or yin.becker@stryker.com Already have an account? Login The ongoing dispute between Inari Agriculture and Pioneer Hi-Bred over utility plant patents has taken its next step with Inari seeking Director Review of the PTAB's denial of institution in PGR2024-00020 -- arguing that a patentee's reliance on its own trade secret information when developing its invention (here a maize variety) is directly relevant to the question of obviousness The case raises interesting and fundamental questions about the intersection of trade secrets and patent law in the context of plant breeding To continue reading, become a Patently-O member. Already a member? Simply log in to access the full post NEW: Patently-O Paid MembershipJoin thousands of patent law professionals Manage your AccountReset your password Free Daily E-MailAbout 25,000 individuals now receive Patently-O via e-mail each morning Find a patent jobWe regularly post top patent jobs from leading firms and government and educational institutions Submit a patent jobFind a patent professional among the 15,000+ monthly visitors of the job board many of whom are patent professionals at large firms and corporations Request a Free MembershipStudents and folks making <$75k annual income all qualify Stryker (NYSE: SYK) has initiated a cash tender offer through its subsidiary to acquire all outstanding shares of Inari Medical (NASDAQ: NARI) for $80.00 per share in cash This offer follows the merger agreement announced on January 6 The tender offer is set to expire on February 18 The completion of the deal is subject to several conditions including the tender of at least a majority of Inari's outstanding shares and regulatory approvals The transaction is expected to close by the end of Q1 2025 Both companies have filed required documentation with the SEC including Stryker's tender offer statement (Schedule TO) and Inari's recommendation to stockholders (Schedule 14D-9) to accept the offer Stryker (NYSE: SYK) ha avviato un'offerta pubblica di acquisto attraverso la propria controllata per acquisire tutte le azioni ordinarie di Inari Medical (NASDAQ: NARI) al prezzo di 80,00 $ per azione in contanti Questa offerta segue l'accordo di fusione annunciato il 6 gennaio 2025 Il completamento dell'operazione è soggetto a diverse condizioni tra cui l'accettazione da parte di almeno la maggioranza delle azioni in circolazione di Inari e approvazioni normative Si prevede che la transazione si concluda entro la fine del primo trimestre del 2025 Entrambe le società hanno presentato la documentazione necessaria alla SEC inclusa la dichiarazione di offerta di Stryker (Schedule TO) e la raccomandazione di Inari agli azionisti (Schedule 14D-9) di accettare l'offerta Stryker (NYSE: SYK) ha iniciado una oferta pública de adquisición a través de su subsidiaria para adquirir todas las acciones en circulación de Inari Medical (NASDAQ: NARI) por 80,00 $ por acción en efectivo Esta oferta sigue al acuerdo de fusión anunciado el 6 de enero de 2025 La oferta expirará el 18 de febrero de 2025 La finalización del acuerdo está sujeta a varias condiciones incluyendo la aceptación de al menos la mayoría de las acciones en circulación de Inari y aprobaciones regulatorias Se espera que la transacción se cierre a finales del primer trimestre de 2025 Ambas empresas han presentado la documentación requerida a la SEC incluida la declaración de oferta de Stryker (Schedule TO) y la recomendación de Inari a sus accionistas (Schedule 14D-9) para aceptar la oferta Stryker (NYSE: SYK)는 자회사인 Eagle 1 Merger Sub를 통해 Inari Medical (NASDAQ: NARI)의 모든 발행 주식을 주당 80.00달러에 현금으로 인수하기 위한 현금 공개 매수를 시작했습니다 결제 제안은 2025년 2월 18일 동부 표준시 기준으로 11시 59분 1초에 만료됩니다 종료 조건에는 Inari의 발행 주식의 과반수에 대한 매수와 규제 승인이 포함되어 있습니다 여기에는 Stryker의 공개 매수 성명서(Schedule TO)와 Inari 주주에게 제안 수락을 권장하는 문서(Schedule 14D-9)가 포함됩니다 Stryker (NYSE: SYK) a lancé une offre publique d'achat par l'intermédiaire de sa filiale pour acquérir toutes les actions en circulation de Inari Medical (NASDAQ: NARI) au prix de 80,00 $ par action en espèces Cette offre fait suite à l'accord de fusion annoncé le 6 janvier 2025 La réalisation de l'opération est soumise à plusieurs conditions notamment l'acceptation d'au moins la majorité des actions en circulation d'Inari et des approbations réglementaires La transaction devrait être finalisée d'ici la fin du premier trimestre 2025 Les deux entreprises ont déposé la documentation requise auprès de la SEC y compris la déclaration d'offre de Stryker (Schedule TO) et la recommandation d'Inari à ses actionnaires (Schedule 14D-9) d'accepter l'offre Stryker (NYSE: SYK) hat über seine Tochtergesellschaft ein Barangebot zur Übernahme aller ausstehenden Aktien von Inari Medical (NASDAQ: NARI) zu einem Preis von 80,00 $ pro Aktie in bar initiiert Januar 2025 bekannt gegebene Fusionsvereinbarung Der Abschluss des Deals unterliegt mehreren Bedingungen einschließlich der Annahme von mindestens der Hälfte der ausstehenden Aktien von Inari und behördlichen Genehmigungen Der Abschluss der Transaktion wird bis Ende des ersten Quartals 2025 erwartet Beide Unternehmen haben die erforderlichen Unterlagen bei der SEC eingereicht einschließlich Strykerns Angebotsunterlage (Schedule TO) und Inaris Empfehlung an die Aktionäre (Schedule 14D-9) This tender offer marks a important step in Stryker's $3.5 billion acquisition of Inari Medical The deal structure through a tender offer rather than a traditional merger suggests Stryker's strategic intent to expedite the acquisition process The premium offered represents Stryker's strong commitment to expanding its presence in the thrombectomy market The tender offer's success hinges on achieving a minimum threshold of 50% shareholder participation along with regulatory clearance under HSR Act The February 18 deadline provides sufficient time for shareholders to evaluate the offer while maintaining momentum toward the Q1 2025 closing target For simplified understanding: Think of this like a massive shopping spree where Stryker is offering to buy all available Inari shares directly from shareholders at a fixed price similar to making an offer to buy a house - but they need at least half of the homeowners in a community to agree before the deal can proceed The tender offer structure provides several strategic advantages for both companies it enables direct engagement with Inari shareholders while potentially accelerating the acquisition timeline compared to a traditional merger The cash consideration of $80.00 per share eliminates exchange ratio uncertainties and provides Inari shareholders with immediate liquidity including HSR clearance and SEC filings (Schedule TO and 14D-9) demonstrates proper governance and transparency The Board's recommendation to accept the offer suggests confidence in the valuation and strategic fit This acquisition will significantly enhance Stryker's vascular portfolio and market position In simple terms: Stryker is using its cash reserves to buy Inari Medical choosing a faster 'cash now' approach instead of a longer process It's like paying cash for a house instead of getting a mortgage - it's cleaner faster and often more attractive to sellers For investor inquiries please contact:Jason Beach, Vice President, Investor Relations at 269-385-2600 or jason.beach@stryker.com please click the box below to let us know you're not a robot Get the most important global markets news at your fingertips with a Bloomberg.com subscription Inari’s expertise combined with Stryker’s existing distribution and logistics network could boost volume and procedure quality Major medical device manufacturing company Stryker has announced the total acquisition of Inari Medical an American-based medical device company specialising in the treatment of venous thromboembolism was finalised in mid-February for $4.9 billion Acquiring Inari’s portfolio of venous thrombectomy devices provides Stryker with an entry point into the high-growth peripheral vascular market Inari Medical’s portfolio of devices includes the FlowTriever and ClotTriever systems used to treat pulmonary embolism and deep vein thrombosis respectively Both systems utilise a minimally invasive procedure to find and remove clots from the body These devices compete with those from other major cardiovascular device manufacturers Boston Scientific With rising rates of peripheral artery diseases worldwide including deep vein thrombosis and pulmonary embolism this acquisition is likely to strengthen Stryker’s position in the overall cardiovascular device market According to the GlobalData Medical Intelligence Center the worldwide thrombectomy device market was worth $2.96 billion in 2024 growing at a compound annual growth rate (CAGR) of 5.48% the thrombectomy device market is valued at $1.18 billion Teleflex and Inari Medical are the largest manufacturers in this market With the acquisition of Inari Medical finalised Stryker is poised to break into the lucrative peripheral vascular device market combined with Stryker’s existing distribution and logistics network could result in an improvement in both volume and procedure quality for those suffering from deep vein thrombosis and other clot-related cardiovascular diseases announced today that its management team is scheduled to present at the J.P Interested parties may access a live webcast and replay of the presentation by visiting the Inari Medical investor relations website Inari Medical contact:Neil BhalodkarIR@inarimedical.com Inari recalled the catheter and revised instructions for use after reports of the device becoming entrapped or blocking patients’ lung arteries The events leading to the recall happened in patients who had catheters inserted through the vein above the collarbone or had certain types of clots thick and dense; attached to the vessel; formed in the blood vessel by tumor cells; or extremely large and impossible to remove in pieces Such events can have serious health consequences including vessel damage and death, according to the FDA, which categorized the recall as Class I Inari’s identification of patient characteristics associated with the adverse events informed updates to the product label The company has warned against pulling the catheter through certain veins and asked physicians to slowly retract the device away from the heart and be aware of the risk of blockages Inari also said the device should not be used to remove “predominantly fibrous Hykes said the label change “offers additional procedural and technical guidance .. [and] there's no device defect or malfunction.” The device is designed to treat complex deep vein thrombosis is a disease that's associated with pretty severe outcomes with conservative management,” Hykes said “The [instructions for use] change that we have discussed refers to a very small subset of these patients specific location and some technical aspects.” Inari received 510(k) clearance for ClotTriever XL in April 2023 Johnson & Johnson and Danaher completed transactions this year The EPA is expected to finalize new regulations in March that would limit ethylene oxide emissions from companies that sterilize medical devices Please enable JS and disable any ad blocker The US Food and Drug Administration (FDA) has issued a Class I recall—the most serious type—for Inari Medical‘s ClotTriever XL 30mm device due to reports of patient injury and death from device entrapment and pulmonary emboli (PE) The device remains on the market with updated instructions for use (IFU) with all devices and lot numbers with labelled dates prior to 1 August affected The FDA recall was categorised as a “correction,” addressing a problem with a medical device in the place where it is used or sold rather than removing it from the market There have been four reported injuries and six reports of death The serious adverse events occurred in patients who had the ClotTriever catheter inserted through the jugular vein; thrombus that is fibrotic organised and/or adherent; clot formed by tumour cells; and extremely large clot that cannot be removed in pieces Inari sent all affected customers an Urgent Medical Device Labeling Correction letter covering IFU updates recommending that they view the letter and updates then share it with any relevant personnel and/or device users; share this information with any organisation where the ClotTriever XL catheter may have been transferred; and complete the Customer Acknowledgement Reply Form as soon as possible based on its review of the reported adverse events users consider the device to be contraindicated for the removal of fibrous and be aware that the use of a clot capture device—for example an embolic protection device—”has not yet been demonstrated to be effective in the venous vasculature.” The FDA noted in the recall that US customers with questions about the recall should contact their local Inari sales representative, Inari Customer Care at 877-923-4747, or its quality department at [email protected] WEST LAFAYETTE, Ind., Aug. 21, 2024 /PRNewswire/ -- Inari today marked the grand opening of a new 42,000-square-foot facility in West Lafayette The $20 million expansion – Inari's largest to date – further accelerates the development and commercialization of higher-yielding seeds to meet market demand Through its SEEDesign™ technology platform, Inari combines AI-powered predictive design and advanced multiplex gene editing to develop step-change products that help ensure a thriving planet West Lafayette is home to Inari's product development and commercial operations bringing to life research conducted at the company's Cambridge Massachusetts-based headquarters and Ghent "This expansion ushers in an exciting new phase for Inari as we scale up to deliver our breakthrough products to seed customers," CEO Ponsi Trivisvavet said "Not only does it optimize and accelerate our operations the expanded capacity and capabilities allow us to address more crops and crop varieties." The expansion includes a more than doubling of the site's greenhouse facilities and state-of-the-art LED lighting and environmental controls as well as additional office and warehouse space It is expected to further grow Inari's West Lafayette employee base which currently accounts for about half of the company's more than 300 team members worldwide Retail Corporate Expansion Previous title: Senior vice president of finance Kevin Strange is set to replace Mitch Hill as Inari Medical’s CFO at the beginning of October, the company said Tuesday the company went public and grew quarterly revenues from $6 million to $146 million Inari CEO Drew Hykes said on an earnings call Tuesday that Hill “helped build and scale a solid financial operating and technology foundation” to support the growing company The outgoing CFO “helped us identify and develop Kevin Strange as his successor,” Hykes said Strange joined Inari in 2020 as vice president of strategy and business development Strange leads day-to-day financial operations Hill will hand the CFO title to Strange at the start of October but will “continue to support Kevin's efforts in every way and will remain with Inari through early January 2025,” Hykes said An analyst asked Hill about the timing of the transition and his future plans on the earnings call “I feel definitely like this is a great time for me to retire,” Hill said adding that he has not given a lot of thought to what he will do after leaving the company The departing CFO ruled out taking another executive role at a medical device company but said otherwise “it's kind of a TBD in terms of what I'll be doing” in 2025 Inari disclosed the CFO transition alongside its second-quarter results Truist Securities analysts said in a note to investors the “(unexpected) CFO transition announced [with] results strikes us as succession planning.” The company reported revenue of $146 million in the quarter and raised its full-year revenue guidance for the second straight quarter Hykes named the full market release of the Venacore thrombectomy catheter anticipated reentry in acute limb ischemia and expected launches in China and Japan as upcoming catalysts The CEO reaffirmed Inari's expectations to reach “sustained operating profitability” in the first half of 2025 Strange answered a question on the call about Limflow, a company Inari acquired last year for $415 million Limflow received FDA approval in September for a device to treat patients with chronic limb-threatening loss of blood flow Strange said Inari is seeing “good traction in the marketplace a lot of good enthusiasm among the docs and among hospitals,” but the goal this year is to build the foundations for “what should be a very positive 2025.” Subscribe to the MedTech Dive free daily newsletter