SYK · 8-K · 20260626PR000041
Acquisition / Partnership / Divestiture
STRYKER CORP · 2026-06-26 · Importance 96 · Surprise 100 · No source text
Stryker completed acquisitions totaling $4,960 million of consideration, net of cash acquired, in 2025. The 2025 sales increase included a 0.4% consolidated impact from acquisitions and divestitures, while MedSurg and Neurotechnology included a 5.4% impact and Orthopaedics included a 4.8% impact. The 2025 investing cash outflow included cash paid for the acquisition of Inari and proceeds from the sale of the Spinal Implants business. Inari-related acquisition and integration costs included $140 million of stock compensation payments upon a change in control, $60 million for employee retention and workforce reductions, and $95 million for other integration activities.
Key facts
- Cash paid for acquisitions, net of cash acquired, was $4,960 in 2025 and $1,628 in 2024. source
- In 2025 the Company completed the acquisition of Inari Medical, Inc. for total consideration of $4,810, net of cash acquired. source
- Net cash used in investing activities in 2025 was $(4,866), which included acquisitions, net of cash acquired of $(4,960) and proceeds from the sale of the Spinal Implants business of $165. source
- Completed acquisitions in 2025 for total consideration of $4,960, net of cash acquired source
- Consideration for the disposal group could increase by up to $57 or decrease by up to $245 based on the amount received. source
- Invested in acquisitions in 2025: $4,960 source
- In February 2025 we completed the acquisition of Inari for $80 per share, or an aggregate purchase price of $4,810, net of cash acquired. source
- The purchase price allocation recorded developed technologies of $1,458, customer relationships of $330 and goodwill of $3,191 for Inari in 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | — | In 2025 the Company completed the acquisition of Inari Medical, Inc. for total consideration of $4,810, net of cash acquired. |
| cash | negative | realized | — | Net cash used in investing activities in 2025 was $(4,866), which included acquisitions, net of cash acquired of $(4,960) and proceeds… |
| assets | mixed | contingent | — | Consideration for the disposal group could increase by up to $57 or decrease by up to $245 based on the amount received. |
| assets | positive | realized | — | The purchase price allocation recorded developed technologies of $1,458, customer relationships of $330 and goodwill of $3,191 for Inari… |
| assets | unclear | realized | — | In April 2025 we completed the sale of the disposal group to the Viscogliosi Brothers, LLC. |
| cash | positive | realized | — | STRYKER CORP completed the sale of the Spinal Implants disposal group to the Viscogliosi Brothers, LLC in April 2025. |
| liability | positive | realized | — | We recorded additions to contingent consideration of $123 in 2025 and $208 in 2024 and ending contingent consideration was $518 in 2025… |
| cash | mixed | contingent | — | STRYKER CORP stated that consideration for the sale of the disposal group could increase by up to $57 or decrease by up to $245 based on… |