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,

By Anirban Sen NEW YORK (Reuters) -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'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 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 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.

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

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

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