---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-014569"
form_type: "8-K"
ticker: "ZBH"
cik: "0001136869"
company_name: "ZIMMER BIOMET HOLDINGS, INC."
filed_at: "2025-01-29T23:59:59+00:00"
generated_at: "2026-05-27T06:29:33.482537+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Zimmer Biomet to acquire Paragon 28 for $1.2B enterprise value, $13/share cash plus CVR

## Summary
- Upfront $13.00 per share cash (~$1.1B equity); CVR up to $1.00/share if FY2026 net sales exceed $346M.
- Paragon 28 FY2024 revenue $255.9–$256.2M (+18.2–18.4% YoY); targets ~$5B foot & ankle segment growing high-single digits.
- Deal ~3% dilutive to ZBH adj. EPS in 2025, ~1% dilutive in 2026, accretive within 24 months; close H1 2025 subject to approvals.
- Unanimous board approval; Goldman Sachs advising ZBH, Piper Sandler advising Paragon 28.

## SEC filing metadata
- accession: 0001193125-25-014569
- form_type: 8-K
- ticker: ZBH
- cik: 0001136869
- company_name: ZIMMER BIOMET HOLDINGS, INC.
- filed_at: 2025-01-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1136869/000119312525014569/0001193125-25-014569-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1136869/000119312525014569/d644888d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-014569
- JSON: https://secwatch.observer/filing/0001193125-25-014569.json
- Plain text: https://secwatch.observer/filing/0001193125-25-014569.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.