Zimmer Biomet completed its acquisition of Paragon 28, a medical device company in the foot-and-ankle orthopedic sector.
The transaction strengthens Zimmer’s foot-and-ankle offerings, establishes a dedicated foot-and-ankle sales channel for Zimmer and expands the company’s growth opportunities in ASCs, according to an April 28 Zimmer news release.
The two companies entered into a definitive agreement in January, with Zimmer acquiring all of Paragon’s outstanding shares for $13 per share, corresponding to an equity value of more than $1 billion.
Paragon 28 is now a wholly owned subsidiary of Zimmer Biomet, the release added.
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
