Zimmer Biomet to Acquire Monogram Technologies for $168M

Monogram Technologies is being acquired by Zimmer Biomet Holdings for $177 million. The acquisition will add Monogram's semi- and fully autonomous robotic technologies to Zimmer Biomet's ROSA Robotics platform and navigation technologies. Monogram's CT-based, semi-autonomous TKA robotic technology has received FDA clearance and is expected to be commercialized with Zimmer Biomet implants in 2027. The acquisition is expected to make Zimmer Biomet the first company in orthopedics to offer a fully autonomous surgical robot.

Zimmer Biomet Holdings, Inc. (NYSE: ZBH), a global leader in medical technology, has announced a definitive agreement to acquire Monogram Technologies Inc. (NASDAQ: MGRM), an orthopedic robotics company, for an upfront payment of $4.04 per share in cash, corresponding to an equity value of approximately $177 million and an enterprise value of approximately $168 million [1].

The acquisition will integrate Monogram's semi- and fully autonomous robotic technologies into Zimmer Biomet's ROSA Robotics platform and navigation technologies. Monogram's CT-based, semi-autonomous TKA robotic technology, which received FDA 510(k) clearance in March 2025, is expected to be commercialized with Zimmer Biomet implants in early 2027 [1, 2].

Upon closing, Zimmer Biomet aims to become the first and only company in orthopedics to offer a fully autonomous surgical robot. This acquisition is expected to enhance Zimmer Biomet's capabilities in robotics, one of the fastest-growing segments within orthopedics [1, 2].

The proposed transaction is subject to receipt of required regulatory approvals, approval by Monogram's common stockholders, and other customary closing conditions. The merger is anticipated to close later this year. Morgan Stanley & Co. LLC is serving as the exclusive financial advisor to Zimmer Biomet, while Hogan Lovells US LLP is acting as the legal advisor. Wells Fargo Securities, LLC is serving as the exclusive financial advisor to Monogram, with Duane Morris LLP as the legal advisor [1].

Zimmer Biomet's CEO, Ivan Tornos, stated, "Monogram's technology is a major leap forward, demonstrating our commitment to becoming the boldest and broadest innovator in surgical robotics and navigation. Upon closing, our customer-centric portfolio will consist of the most comprehensive and flexible technology ecosystem to support the varying preferences of a vast array of surgeons – now and into the future" [1].

References:
[1] https://www.prnewswire.com/news-releases/zimmer-biomet-announces-definitive-agreement-to-acquire-monogram-technologies-expanding-robotics-suite-with-autonomous-solutions-302503954.html
[2] https://www.towardshealthcare.com/blog/zimmer-biomet-acquires-monogram-technologies