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Paragon 28, Inc. (FNA) is a pioneering medical devices company focused exclusively on the orthopedic foot and ankle market. Founded in 2010, the name ‘Paragon 28’ signifies its dedication to this niche, with ‘28’ representing the number of bones in the human foot. The company was started as a small, family-based business and, while it has seen significant growth, it holds steadfast to its original core values.
Paragon 28 is dedicated to advancing the science behind foot and ankle surgery through innovative and high-quality solutions. The company collaborates with global thought leaders to blend various surgical philosophies, resulting in biomechanically and clinically relevant surgical solutions. Their comprehensive product lineup includes plates and plating systems, screws, staples, and nails designed for all major foot and ankle procedures such as ankle, Charcot, fracture fixation, hallux valgus, hammertoe, and flat foot corrections.
With nearly 80 product systems, Paragon 28 aims to meet the specific needs of each patient and procedure, ensuring precise and effective outcomes. The company is also committed to providing excellent customer service through a dedicated and highly trained distribution network, primarily targeting the foot and ankle market.
Operating efficiently to meet the demands of pricing pressures and reimbursement challenges, Paragon 28 generates the majority of its revenue from the United States. The company's relentless focus on innovation and service has led to significant milestones, making it a trusted name in the foot and ankle surgical space.
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Paragon 28, Inc. (NYSE: FNA) has introduced the FJ2000™ Power Console and Burr System for foot and ankle surgery, designed to modernize procedures with its versatile and efficient features. The system offers pre-set options for reducing thermal necrosis, single-use hand pieces, and a variety of burrs and instruments in a sterile packed kit. The CEO highlighted the benefits of the system in terms of cost, efficiency, surgeon optionality, and patient outcomes, while a renowned surgeon praised its efficiency and flexibility. The new system complements Paragon 28's existing bunion and forefoot solutions portfolio.
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Paragon 28, Inc. (NYSE: FNA) has announced the launch of the Mister Tendon™ System, designed to allow surgeons to perform a distal cut of the flexor hallucis longus or flexor digitorum longus tendon through a minimally invasive incision. The system aims to improve healing and recovery time in flatfoot reconstruction. The press release also features comments from the CEO and surgeon designer, highlighting the company's commitment to addressing unmet needs of foot and ankle surgeons.
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Paragon 28, Inc. (NYSE: FNA) has announced the limited market release of its Bun-Yo-Matic™ Lapidus Clamp System and the completion of the first surgical cases in Orange County, California and Seattle, Washington. The Bun-Yo-Matic™ is a unique bunion solution designed to simulate weight-bearing intraoperatively and allow for compression prior to hardware application, providing surgeons with a more reproducible and efficient means to restore three-dimensional alignment of the foot. The Clamp remains fixed to the anatomy throughout the entire procedure, ensuring surgeon-guided correction and anatomic alignment. Paragon 28's CEO, Albert DaCosta, expects the product to drive significant growth for the company, bringing more reproducibility, streamlined procedural workflow, improved accuracy, and ultimately improved patient outcomes in technically demanding Lapidus arthrodesis cases. The Bun-Yo-Matic™ Lapidus Clamp System complements Paragon 28's existing implants and implant systems designed to treat bunions, providing customers with a comprehensive portfolio to address their bunion and forefoot needs.
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Paragon 28, Inc. (NYSE: FNA) announced preliminary unaudited net revenue for the fourth quarter and full year ended December 31, 2023. The fourth quarter is expected to be in the range of $60.3 to $60.6 million, with a reported growth of approximately 17% to 18% compared to the same period in 2022. The full year net revenue is expected to be in the range of $216.1 to $216.4 million, representing reported and constant currency growth of approximately 19% and 20%, respectively, compared to 2022. The financial results are preliminary and subject to finalization.
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Paragon 28, Inc. (NYSE: FNA) has announced the launch of the Grappler® Knotless Anchor System and Bridgeline™ Tape, aimed at enhancing the company's position in the fast-growing foot and ankle specific soft tissue market in 2024 and beyond.
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Paragon 28, Inc. (FNA) to present at 42nd Annual J.P. Morgan Healthcare Conference
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Paragon 28, Inc. (NYSE: FNA) Launches BEAST™ Cortical Fibers, a biologic product designed to aid cellular attachment, differentiation, and bone formation. The press release highlights the product's porous structure, flexibility, and ability to support efficient bone remodeling. The company's biologics product offering is further strengthened with this addition, providing innovative solutions for reconstruction and trauma in foot and ankle surgical applications.
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Paragon 28, Inc. (NYSE: FNA) announces the launch of its JAWS™ Great White Staple System, offering increased strength and stability for osteotomy or fusion sites. The staples feature an ultra-low-profile bridge with enhanced surface area to minimize soft tissue irritation, providing 400 times the fatigue life of a competitive nitinol staple. The shoulders of the staple work in conjunction with the inserter, allowing full seating prior to compression activation, limiting the need to tamp. Paragon 28’s CEO, Albert DaCosta, expressed excitement about expanding their staple offering to address midfoot and hindfoot reconstruction complexities, enhancing market position in these segments. The addition of the JAWS™ Great White Staple System complements Paragon 28’s hindfoot solutions product offering, providing innovative ankle solutions for trauma, arthritis, and limb salvage.
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Paragon 28, Inc. (NYSE: FNA) announces the addition of a second trailer to its nationwide mobile lab training program, providing a state-of-the-art, 5 station, cadaveric training facility to accommodate up to 25 surgeons. The mobile lab will host over 70 training sessions in approximately 65 US cities during quarter four of 2023, following a successful kick-off in July 2022. CEO Albert DaCosta emphasizes the program's effectiveness in supporting the company's growing product portfolio and surgeon customers.
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Paragon 28, Inc. (NYSE: FNA) secures $150 million credit facility from Ares Capital Corporation, replacing existing $90 million senior credit facility. The non-dilutive facility includes $100 million in term loans and a $50 million revolving credit facility, reinforcing the company's pathway to cash flow break-even.
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FAQ
What is the current stock price of Paragon 28 (FNA)?
The current stock price of Paragon 28 (FNA) is $10.43 as of November 21, 2024.
What is the market cap of Paragon 28 (FNA)?
The market cap of Paragon 28 (FNA) is approximately 878.2M.
What does Paragon 28, Inc. specialize in?
Paragon 28, Inc. specializes in the development, distribution, and sale of medical devices specifically for the orthopedic foot and ankle market.
When was Paragon 28, Inc. founded?
Paragon 28, Inc. was founded in 2010.
What is the significance of the name 'Paragon 28'?
The name 'Paragon 28' signifies the company's exclusive focus on the foot and ankle market, with '28' representing the number of bones in the human foot.
What types of products does Paragon 28 offer?
Paragon 28 offers a variety of products including plates and plating systems, screws, staples, and nails designed for major foot and ankle procedures.
How many product systems does Paragon 28 have?
Paragon 28 has nearly 80 product systems tailored to meet the specific needs of each patient and procedure.
Where does Paragon 28 generate the majority of its revenue?
Paragon 28 generates the majority of its revenue from the United States.
What is Paragon 28’s approach to innovation?
Paragon 28's approach to innovation involves blending various surgical philosophies from global thought leaders to create biomechanically and clinically relevant surgical solutions.
What is Paragon 28’s commitment to customer service?
Paragon 28 is committed to excellent customer service through a dedicated, highly trained distribution network focused on the foot and ankle market.
How does Paragon 28 address pricing pressures and reimbursement challenges?
Paragon 28 operates efficiently to meet the demands of increasing pricing pressures and reimbursement challenges in the healthcare market.
What recent achievements has Paragon 28 made?
Paragon 28 has made significant milestones in advancing foot and ankle surgery through its innovative product systems and focus on quality and service.
Paragon 28, Inc.
NYSE:FNA
FNA Rankings
FNA Stock Data
878.23M
49.79M
40.56%
61.27%
8.11%
Medical Devices
Surgical & Medical Instruments & Apparatus
United States of America
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