---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-014881"
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: "2026-05-27T06:28:59.558334+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Zimmer Biomet to acquire Paragon 28 for $13.00 per share cash plus up to $1.00 CVR

## Summary
- Deal consideration: $13.00 per share cash plus Contingent Value Right (CVR) with max $1.00 payable if Paragon 28 net revenue exceeds $361M in 2026.
- Paragon 28 CEO Albert DaCosta enters voting agreement to support deal, will become Global President, Foot and Ankle post-close.
- Termination fee of $40M payable by Paragon 28 under certain circumstances, including if it accepts a superior proposal.
- Closing requires stockholder approval, HSR and foreign regulatory clearances; no financing condition.
- Deal expected to close by November 28, 2025 (with possible extension to January 28, 2026).

## SEC filing metadata
- accession: 0001193125-25-014881
- 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: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1136869/000119312525014881/0001193125-25-014881-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1136869/000119312525014881/d925673d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-014881
- JSON: https://secwatch.observer/filing/0001193125-25-014881.json
- Plain text: https://secwatch.observer/filing/0001193125-25-014881.txt

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