Zimmer Biomet is taking steps to expand its foot and ankle orthopedics business with a $1.1 billion deal to acquire specialized implant maker Paragon 28.
Paragon 28’s catalog spans products for fracture and trauma fixation procedures in addition to deformity corrections and joint replacements—all exclusively focused on the feet and ankles, a market Zimmer Biomet pegs at around $5 billion.
“This proposed transaction further diversifies Zimmer Biomet’s portfolio outside of core orthopedics and positions us well in one of the highest growth specialized segments in musculoskeletal care, while creating cross-selling opportunities in the rapidly growing [ambulatory surgical center] space,” President and CEO Ivan Tornos said in a statement.
“Paragon 28’s broad and innovative foot and ankle portfolio, robust product pipeline and dedicated and highly trained sales force, combined with Zimmer Biomet’s global reach and capabilities, will uniquely position us to address the unmet patient needs of this highly complex…
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