Co-founder, President & CEO
Paragon 28 Inc.
Location: Centennial, Colorado
Industry: Medical Device
Albert DaCosta’s medical device company started as a basement operation in Birmingham, Alabama, in 2010. In little more than a decade, that company has mushroomed into an industry leader with more 250 employees, 550-plus sales reps and $147 million in revenue in 2021.
Paragon 28 — the number represents the number of bones in the foot — aims to improve outcomes for patients with foot and ankle problems. Headquartered in Englewood, Colorado, the company conducts business in 24 countries. In October 2021, DaCosta took the Paragon 28 public with an IPO.
The money, though, is not the primary aim, DaCosta said. “Making money is difficult when that is the target,” said DaCosta, the company co-founder, president and CEO. “If you set the correct mission/vision then making money is easy.”
Under DaCosta’s leadership, Paragon 28 has launched more than 80 foot and ankle products, with 30 more under development. “The goal is to give options to the foot and ankle surgeon, knowing there is more than one way to achieve a great result,” DaCosta’s staff said. “We have listened to surgeons and will continue to do so in order to understand and address their specific needs.”
DaCosta was the winner of the Ernst & Young Entrepreneur of the Year Award in 2018 (Healthcare, Mountain Desert Region). He was honored by his alma mater, the University of Florida, as a Gator100 winner in 2019 and 2021. Finally, DaCosta was a Red Herring Award winner in 2019 and spoke in front of other award winners at the three-day conference.
DaCosta has an aggressive growth plan for Paragon 28, and the company continues to invest in emerging technologies and research. He personally holds 120 patents, both issued and pending, and structured two technology sector acquisitions in the last year.
“I am fortunate to be involved in a segment where we not only get to help patients, but we get to play a part in defining this space. The foot and ankle market is diverse and young, which means we have so many opportunities to improve outcomes through better technology. With modern-day tools such as enabling technology, we are at the early stages of drastic transformation,” DaCosta said. “This is how I plan to stay relevant.”
"If you set the correct mission and vision then making money is easy."