$375M Deal For Paragon Medical
The company is headquartered in "The Orthopedics Capital of the World
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowTennessee-based NN Inc. (Nasdaq: NNBR) has announced plans to acquire a high-profile medical device manufacturer in Kosciusko County. The company expects the $375 million deal for Paragon Medical Inc. to close in the second quarter.
NN is an industrial manufacturer of high-precision metal and plastic components and assemblies, according to its website. Richard Holder, chief executive officer of NN, says the acquisition fits perfectly with the company’s plan to expand its life sciences portfolio.
"Paragon strengthens our technical abilities, expands our product and finished device offerings, and adds key talent across our organization that will help us continue to drive growth in our end markets," Holder said in a news release.
While NN did not specifically say if the acquisition would have any affect on employees, Paragon Medical CEO Tobias Buck said the deal is an "exciting opportunity for Paragon’s customers and associates." Paragon has centers in Switzerland, China, and Poland, as well as two locations in Indiana and one in Utah.
The company celebrated is 25th anniversary in 2016.