Zimmer Biomet Completes Acquisition of Paragon 28

Core Viewpoint - Zimmer Biomet has completed the acquisition of Paragon 28, enhancing its position in the rapidly growing foot and ankle orthopedic market [1][5]. Group 1: Acquisition Details - The acquisition was finalized on April 21, 2025, under a merger agreement dated January 28, 2025 [5]. - Each outstanding common share of Paragon 28 was converted into $13.00 in cash and a contingent value right (CVR) worth up to$1.00 per share based on revenue milestones [6]. - Following the acquisition, Paragon 28 became a wholly-owned subsidiary of Zimmer Biomet, and its shares were delisted from the New York Stock Exchange [6][7]. Group 2: Strategic Benefits - The transaction strengthens Zimmer Biomet's offerings in the foot and ankle segment, leveraging Paragon 28's technology and sales organization [3]. - It complements Zimmer Biomet's existing fracture, trauma, and joint replacement portfolios, creating a dedicated sales channel for foot and ankle products [3]. - The acquisition is expected to drive growth in a ~$5 billion foot and ankle industry, which is projected to grow at high-single digits [4]. Group 3: Market Positioning - The acquisition enhances Zimmer Biomet's global footprint and infrastructure, facilitating adoption and growth in both U.S. and international markets [4]. - It accelerates penetration into the fast-growing Ambulatory Surgery Center (ASC) space, aligning with industry trends [4].