Paragon 28 filed to raise up to $100 million in an initial public offering. Net proceeds from this offering will be used for working capital and general corporate purposes.
The company is exclusively focused on the foot and ankle orthopedic market. Its orthopedic solutions, procedural approaches and instrumentation cover a range of foot and ankle ailments including fracture fixation, hallux valgus, hammertoe, ankle, progressive collapsing foot deformity, charcot foot and orthobiologics. The company provides a portfolio of solutions that includes surgical implants and disposables, as well as surgical instrumentation, and its suite of surgical solutions comprises 72 product systems and approximately 8,700 SKUs.
Paragon 28 was founded in 2010 and booked $134 million in sales for the 12 months ended June 30, 2021. It plans to list on the NYSE under the symbol FNA.