---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-087219"
form_type: "8-K"
ticker: "ZBH"
cik: "0001136869"
company_name: "ZIMMER BIOMET HOLDINGS, INC."
filed_at: "2025-04-21T23:59:59+00:00"
generated_at: "2026-05-23T10:00:36.722827+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Zimmer Biomet completes acquisition of Paragon 28 for $13.00/share plus CVR

## Summary
- Closing on April 21, 2025; each Paragon 28 share converted to $13.00 cash plus up to $1.00 CVR tied to revenue milestones.
- Paragon 28 becomes wholly-owned subsidiary; delisted from NYSE effective April 21, 2025.
- Deal strengthens Zimmer Biomet's foot and ankle segment, a ~$5B market growing high-single digits.
- Leverages Paragon 28's dedicated sales channel to accelerate ASC penetration and global growth.
- Transaction expected to accelerate Zimmer Biomet's weighted-average market growth rate (WAMGR).

## SEC filing metadata
- accession: 0001193125-25-087219
- form_type: 8-K
- ticker: ZBH
- cik: 0001136869
- company_name: ZIMMER BIOMET HOLDINGS, INC.
- filed_at: 2025-04-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1136869/000119312525087219/0001193125-25-087219-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1136869/000119312525087219/d947892d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-087219
- JSON: https://secwatch.observer/filing/0001193125-25-087219.json
- Plain text: https://secwatch.observer/filing/0001193125-25-087219.txt

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