Zimmer Biomet to buy Paragon 28 for $1.1 billion (updated)

Paragon 28

28/01/2025 23:19

(Adds shares in paragraph 4, details throughout)
       Jan 28 (Reuters) - Zimmer Biomet  ZBH.N  said on Tuesday it would acquire medical device
company Paragon 28  FNA.N  for about $1.1 billion to expand its portfolio of orthopedic surgical
devices.  
    The deal will give Zimmer Biomet access to Paragon's surgical implants and equipment used to
treat foot and ankle ailments.
    Under the terms of the deal, Zimmer Biomet will make an upfront payment of $13.00 per share
in cash, which represents an 8.3% premium to Paragon's closing price on Tuesday.
    Shares of Paragon 28 rose 8.4% in extended trading.      

 (Reporting by Mariam Sunny in Bengaluru; Editing by Alan Barona)
 ((Mariam.ESunny@thomsonreuters.com))