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FNA is a leading medical device company focused exclusively on the foot and ankle orthopedic market, dedicated to improving patient lives. The company provides innovative orthopedic solutions, procedural approaches, and instrumentation to address a wide range of foot and ankle ailments. FNA sells surgical implants, disposables, and surgical instrumentation designed to improve outcomes and simplify procedures.
- Fracture Fixation - Offers solutions for stabilizing and healing bone fractures in the foot and ankle.
- Forefoot or Hallux Valgus - Provides products for correcting bunion and hammertoe deformities.
- Ankle Conditions - Delivers systems for treating various ankle ailments and injuries.
- Flatfoot or Progressive Collapsing Foot Deformity (PCFD) - Supplies solutions for addressing flatfoot conditions.
- Charcot Foot - Focuses on products for managing and treating Charcot foot deformities.
- Orthobiologics - Includes biologic materials to enhance bone healing and regeneration.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Albert DaCosta ExecutiveBoard | Chairman, President, and Chief Executive Officer | None | Albert DaCosta is a co-founder of Paragon 28, Inc. and has been leading the company since its inception. He has over 18 years of experience in the foot and ankle industry, contributing significantly to the company's development and leadership. | View Report → |
Kristina Wright ExecutiveBoard | Interim Chief Financial Officer | None | Kristina Wright was appointed as the Interim CFO in April 2024. She has been a member of the Board of Directors since December 2021 and has held various leadership roles in finance and corporate development at Medtronic, plc, and other companies. | |
Chadi Chahine Executive | Chief Financial Officer and Executive Vice President of Supply Chain Operations | None | Chadi Chahine was appointed as CFO and EVP of Supply Chain Operations in August 2024. He has held senior financial roles at Zimmer Biomet Holdings Inc., Stanley Black & Decker, and Smith+Nephew. | |
Drew Hill Executive | Executive Vice President of Research and Development | None | Drew Hill joined Paragon 28 in October 2023. He has over 16 years of experience in the medical device, pharmaceutical, and consumer products industries, having held senior roles at companies like ViewRay and Philips Image Guided Therapy. | |
Matthew Jarboe Executive | Chief Commercial Officer | None | Matthew Jarboe joined Paragon 28 in December 2012 and has held various sales leadership roles, including National Sales Manager and Executive Vice President of Sales. He became Chief Commercial Officer in July 2018. | |
Robert McCormack Executive | General Counsel and Corporate Secretary | None | Robert McCormack joined Paragon 28 as General Counsel and Corporate Secretary in August 2023. He has held significant legal positions at companies like ViewRay, Inc., Cherwell Software, and The Spectranetics Corporation. | |
Alfred Grunwald Board | Director | CEO of Black Forest One GmbH & Co KG; CEO of artprivat GmbH; Director of LIM Innovations, Inc.; Director of Starlight Cardiovascular | Alfred Grunwald has been a director at FNA since February 2017. He has broad leadership skills and strategic advising experience, with roles in various companies and organizations. | |
B. Kristine Johnson Board | Director | President and General Partner of Affinity Capital Management; Chairperson of the Board at AtriCure, Inc.; Board Member at ViewRay, Inc., ClearPoint Neuro, Inc., University of Minnesota Foundation Investment Advisors | B. Kristine Johnson has been a director at FNA since December 2021. She has extensive experience in the medical device industry and serves on multiple public company boards. | |
Dave Demski Board | Independent Director | Board Member at Alphatec Spine | Dave Demski joined the Board of Directors in December 2024. He has extensive experience in the medical device industry, having served as President and CEO of Globus Medical. | |
Meghan Scanlon Board | Director | Senior Vice President and President, Urology Division at Boston Scientific Corporation; Board Member at Medical Device Manufacturers Association | Meghan Scanlon joined the Board of Directors in April 2022. She has extensive experience in engineering, sales, marketing, and general management, with leadership roles at Boston Scientific and DePuy Synthes. | |
Quentin Blackford Board | Director | President and CEO of iRhythm Technologies; Board Member at Alphatec Holdings, Inc. | Quentin Blackford joined the Board of Directors in August 2022. He has extensive experience in healthcare, operations, and finance, having held senior leadership positions at companies like Dexcom, Inc. and NuVasive, Inc. | |
Stephen Oesterle Board | Director | Director at Sigilon Therapeutics, Inc., Baxter International Inc., Peijia Medical; Advisor to Temasek Holdings LTD and EQT Partners | Stephen Oesterle, M.D., has been a director at FNA since January 2021. He has extensive experience in healthcare and life sciences, having served as a senior executive at Medtronic plc and as a board member of multiple companies. | |
Thomas Schnettler Board | Director and Lead Independent Director | Vice Chairman of Piper Sandler Companies; President of Piper Sandler Investment Group, Inc.; Managing Director in the Merchant Banking Group at Piper Sandler; Board Member at Akoya Biosciences, Inc., Elligo Health Research, Moxe Health Corporation, Integrity Orthopaedics, Inc. | Thomas Schnettler has been a member of the Board of Directors since July 2020. He has extensive experience in advising life sciences companies and holds multiple leadership and board positions outside of FNA. |
- Given that you've moved away from the previous 80% gross margin target to a floor of around 75%, can you elaborate on the specific initiatives you're implementing to improve gross margins over time and the timeline you expect for these improvements?
- Despite recent reductions, your days inventory outstanding remains significantly higher than industry standards; what concrete actions are you taking to further reduce inventory levels, and how do you plan to balance this with the need to support growth and product availability?
- You've achieved adjusted EBITDA positivity earlier than anticipated, but considering the seasonality of your market with higher expenses in the first half of the year, how confident are you in sustaining EBITDA positivity throughout 2025, and what are the main challenges you foresee?
- With 13 new product launches in 2024 and acknowledging a typical ramp-up period of up to a year, can you provide more insight into how these products will contribute to revenue growth in 2025 and what strategies you're employing to accelerate their adoption?
- Competitors have reported softness in certain segments of the foot and ankle market, yet you've experienced choppiness that has since abated; how are you preparing for potential fluctuations in market demand, and what measures are in place to ensure continued growth above market rates?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Disior Ltd. | 2022 |
Recent press releases and 8-K filings for FNA.
- Merger Completion: Paragon 28, Inc. finalized its merger with Gazelle Merger Sub I, Inc., becoming a wholly owned subsidiary of Parent and an indirect subsidiary of Zimmer Biomet as of April 21, 2025.
- Share Conversion: Pre-merger shares were converted to receive $13.00 in cash plus one CVR per share under the merger terms.
- Debt and Listing Actions: Outstanding credit and loan obligations were terminated and fully repaid, and the NYSE has been notified to suspend trading and begin the delisting process.
- Executive Changes: The merger triggered significant executive restructuring, including the CFO’s resignation and amendments to employment agreements providing for tax gross-up payments.
- Special meeting held on April 17, 2025 approved the merger with a Zimmer subsidiary, with approximately 78.46% of votes in favor ( ).
- The advisory compensation proposal for executive officers passed with roughly 71.06% affirmative votes ( ).
- The merger, having received necessary regulatory approvals, is expected to close on or around April 21, 2025 ( ).
- Merger Agreement: On January 28, 2025, Paragon 28, Inc. entered into a merger agreement with Zimmer, Inc. and its affiliates, with a definitive proxy statement filed on March 18, 2025, setting the stage for the company to become a wholly owned subsidiary of Zimmer’s parent.
- Litigation and Special Meeting: The company disclosed ongoing litigation from stockholders alleging misstatements in the Proxy Statement and confirmed a Special Meeting on April 17, 2025, where the board unanimously recommends a FOR vote on the proposals.
- Paragon 28 confirmed that the HSR Act waiting period for its pending acquisition by Zimmer Biomet has expired, marking an important regulatory milestone.
- The merger still faces additional closing conditions including shareholder approval and further regulatory approvals before finalization.
- The transaction is anticipated to close in the first half of 2025, pending the satisfaction of all remaining conditions.