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 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
