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.

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.

Inari makes mechanical thrombectomy solutions designed to treat peripheral vascular diseases. Stryker said the deal would be complementary to its neurovascular business.