secwatch.observer — SEC 8-K summary
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Issuer:     ZIMMER BIOMET HOLDINGS, INC. (ZBH)
CIK:        0001136869
Form:       8-K
Filed at:   2025-01-29T23:59:59+00:00
Accession:  0001193125-25-014569
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1136869/000119312525014569/0001193125-25-014569-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1136869/000119312525014569/d644888d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-014569

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer