WASHINGTON (dpa-AFX) - Zimmer Biomet Holdings, Inc. (ZBH) Monday announced that it has finalized its acquisition of Paragon 28, a company specializing in foot and ankle orthopedic devices.
The move strengthens Zimmer Biomet's position in one of the fastest-growing areas of musculoskeletal care and integrates Paragon 28's advanced technology and sales expertise into its global operations.
The acquisition was completed on April 21, 2025, under the previously announced merger agreement. Paragon 28 shareholders received $13.00 per share in cash and a contingent value right worth up to $1.00, subject to revenue milestones. Following the acquisition, Paragon 28 became a wholly-owned subsidiary, and its shares were delisted from the NYSE.
CEO Ivan Tornos emphasized the strategic value of this acquisition, noting it enhances innovation and expands Zimmer Biomet's reach in the foot and ankle space. The deal brings a dedicated commercial channel to the company and is expected to drive adoption, growth in ambulatory surgery centers, and accelerate Zimmer Biomet's weighted average market growth rate or WAMGR in the $5 billion foot and ankle market.
ZBH is currently trading at $93.24, or 4.78% lower, on the NYSE.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
