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M&A Deal Summary

Zimmer Biomet Holdings Acquires Paragon 28

On January 28, 2025, Zimmer Biomet Holdings acquired medical products company Paragon 28 for 1.2B USD

Acquisition Highlights
  • This is Zimmer Biomet Holdings’ 18th transaction in the Medical Products sector.
  • This is Zimmer Biomet Holdings’ 2nd largest (disclosed) transaction.
  • This is Zimmer Biomet Holdings’ 18th transaction in the United States.
  • This is Zimmer Biomet Holdings’ 3rd transaction in Colorado.

M&A Deal Summary
Date 2025-01-28
Target Paragon 28
Sector Medical Products
Buyer(s) Zimmer Biomet Holdings
Deal Type Add-on Acquisition
Deal Value 1.2B USD
Advisor(s) Piper Sandler & Co. (Financial)
Cravath, Swaine & Moore (Legal)

Target

Paragon 28

Englewood, Colorado, United States
Paragon 28 is a medical device company exclusively focused on the foot and ankle orthopedic segment and is dedicated to improving patient lives. The Company offers innovative orthopedic solutions, procedural approaches, and instrumentation that cover a wide range of foot and ankle ailments including fracture fixation, forefoot, ankle, progressive collapsing foot deformity (PCFD) or flatfoot, Charcot foot and orthobiologics. The company designs products with both the patient and surgeon in mind, with the goal of improving outcomes, reducing ailment recurrence and complication rates, and making the procedures simpler, consistent, and reproducible. Paragon 28 was founded in 2010 and is based in Englewood, Colorado.

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Buyer(S) 1

Buyer

Zimmer Biomet Holdings

Warsaw, Indiana, United States
Category Company
Founded 1927
Sector Medical Products
Employees18,000
Revenue 7.4B USD (2023)
DESCRIPTION

Zimmer Biomet Holdings is a designer, developer, manufacturer of orthopaedic reconstructive, spinal and trauma devices, dental implants, and related orthopaedic surgical products. Zimmer Biomet Holdings was founded in 1927 and is based in Warsaw, Indiana.

DEAL STATS #
Overall 26 of 26
Sector (Medical Products) 18 of 18
Type (Add-on Acquisition) 23 of 23
State (Colorado) 3 of 3
Country (United States) 18 of 18
Year (2025) 1 of 1
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-07 OrthoGrid

Midvale, Utah, United States

OrthoGrid is a medical technology company that provides intraoperative alignment navigation via procedure-specific musculoskeletal applications for THA, Hip Preservation, and Trauma. Its AI-enabled surgical guidance technology imports images from C-arm image intensifiers to reveal and correct fluoroscopic distortion and helps surgeons achieve desirable and reproducible surgical outcomes. OrthoGrid is based in Salt Lake City, Utah, with research facilities located in Strasbourg, France.

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