Paragon 28, Inc.
paragon28.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2024 10-K, filed Mar 6, 2025. Its latest SEC filing is a SCHEDULE 13G/A from May 15, 2025.
10-K for FY2024, filed Mar 6, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Sells foot and ankle surgical implants, disposables and instruments to hospitals and surgery centers.
10-K for FY2024, filed Mar 6, 2025Paragon 28, Inc. (collectively with its subsidiaries, “we,” “us,” “our,” “P28” or the “Company”) is a leading medical device company…View ↗
We have developed a comprehensive portfolio of foot and ankle surgical systems and procedural techniques designed to address many of the…View ↗
We account for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Revenue is generated primarily…View ↗
How Did They Make Money?
Hospitals and surgery centers pay for implants and disposables, and to a much lesser extent surgical instruments; payment is tied to when the products are used in surgery.
10-K for FY2024, filed Mar 6, 2025
$256.2M
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10-K for FY2024, filed Mar 6, 2025
$256.2M ↗
Who Were Their Customers?
Customers are primarily hospitals and surgery centers. Sales use employee sales staff and independent representatives in the United States; outside the United States, the company also sells through stocking distributors.
10-K for FY2024, filed Mar 6, 2025We account for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Revenue is generated primarily…View ↗
Did Revenues Turn Into Profits?
No. It lost $54.6M in FY2024.
10-K for FY2024, filed Mar 6, 2025
How Were They Changing?
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Apr 21, 2025
Zimmer Biomet completed the acquisition.
Paragon became a wholly owned subsidiary, and stockholders received $13.00 in cash and a contingent value right of up to $1.00 per share.
Sources
8-K, filed Apr 21, 2025
At the effective time of the Merger (the “Effective Time”), each outstanding share of the Company’s common stock, par value $0.01 per share…View ↗
Grew. Revenue grew 2.3x in 4 years, from $111M in FY2020 to $256.2M in FY2024, about 23% a year.
Who Did They Compete With?
Competes with Stryker, Arthrex, Smith & Nephew, Johnson & Johnson, Zimmer Biomet, Enovis Medical, Medline Industries, Conmed, and Treace Medical Concepts
10-K for FY2024, filed Mar 6, 2025Within the lower extremities market, our primary competitors include multinational companies such as Stryker Corporation (Stryker)…View ↗
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