Zimmer Biomet Acquires Monogram Technologies for $177M in Cash

Zimmer Biomet has agreed to acquire Monogram Technologies, an orthopedic robotics company, for $177M in cash. The deal includes an upfront payment of $4.04 per share, corresponding to an enterprise value of $168M. The acquisition aims to expand Zimmer Biomet's presence in the orthopedic robotics market.

Zimmer Biomet Holdings, Inc. has announced a definitive agreement to acquire Monogram Technologies Inc. for approximately $177 million in cash. The deal, which includes an upfront payment of $4.04 per share, corresponds to an enterprise value of approximately $168 million. The acquisition aims to expand Zimmer Biomet's presence in the orthopedic robotics market.

The proposed transaction will create a broad and flexible portfolio of orthopedic robotics and navigation technologies to meet surgeons' needs. Monogram Technologies' semi- and fully autonomous robotic technologies are expected to add new and differentiated capabilities to Zimmer Biomet's flagship ROSA® Robotics platform and broad suite of navigation and enabling technologies. Monogram has developed a CT-based, semi-autonomous, AI-navigated total knee arthroplasty (TKA) robotic technology, which received FDA 510(k) clearance in March 2025 and is expected to be commercialized with Zimmer Biomet implants in early 2027.

Upon closing of the proposed transaction, Zimmer Biomet expects to have a clear pathway to become the first and only company in orthopedics to offer a fully autonomous surgical robot. The acquisition is expected to be neutral to adjusted earnings per share in 2025-2027 and accretive thereafter, contributing to revenue growth beginning in 2027. Zimmer Biomet plans to fund the acquisition through a combination of cash on the balance sheet and other available debt financing sources.

Zimmer Biomet's extensive suite of orthopedic robotics, enabling solutions, and analytics will address the needs of surgeons pre-, intra- and post-operatively. The ROSA platform, a market leader outside of the United States, is rapidly approaching 2,000 installations worldwide. The acquisition will help Zimmer Biomet become the first company to deliver fully autonomous capabilities and redefine both the standard of care and the future of orthopedic surgery.

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 exclusive financial advisor to Zimmer Biomet, and Hogan Lovells US LLP is serving as legal advisor. Wells Fargo Securities, LLC is serving as exclusive financial advisor to Monogram, and Duane Morris LLP is serving as legal advisor.

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