TLDR: Zimmer Biomet Holdings has announced the acquisition of Monogram Technologies, an orthopedic robotics company specializing in AI-navigated surgical systems. This strategic move, valued at approximately $177 million, aims to integrate Monogram’s FDA-cleared semi-autonomous and developing fully autonomous robotic technologies into Zimmer Biomet’s portfolio, enhancing precision, safety, and efficiency in orthopedic procedures, particularly total knee arthroplasty.
WARSAW, Indiana and AUSTIN, Texas – July 14, 2025 – In a significant move set to revolutionize orthopedic surgery, global medical technology leader Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today announced a definitive agreement to acquire Monogram Technologies Inc. (NASDAQ: MGRM), an innovative orthopedic robotics company. The acquisition, unanimously approved by both companies’ boards of directors, is valued at an upfront payment of $4.04 per share in cash, totaling an equity value of approximately $177 million and an enterprise value of approximately $168 million. Monogram common stockholders are also eligible for a non-tradeable contingent value right (CVR) of up to $12.37 per share, contingent on the achievement of specific product development, regulatory, and revenue milestones through 2030.
Monogram Technologies has been at the forefront of developing advanced AI-navigated surgical solutions. Their CT-based, semi-autonomous, AI-navigated total knee arthroplasty (TKA) robotic technology received FDA 510(k) clearance in March 2025. This technology is slated for commercialization with Zimmer Biomet implants in early 2027. Crucially, Monogram is also actively developing a fully autonomous version of this groundbreaking technology, which holds the potential to dramatically enhance safety, efficiency, and patient outcomes, with applications extending beyond TKA.
This acquisition is poised to significantly expand Zimmer Biomet’s comprehensive suite of orthopedic robotics and enabling technologies, including its flagship ROSA® Robotics platform. Upon the closing of the proposed transaction, Zimmer Biomet anticipates establishing a clear pathway to become the first and only company in orthopedics to offer a fully autonomous surgical robot. This strategic integration is expected to provide surgeons with the broadest and most flexible portfolio of orthopedic robotics and navigation technologies, catering to diverse surgical needs.
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From a financial perspective, Zimmer Biomet expects the acquisition to be neutral to its adjusted earnings per share in 2025, 2026, and 2027, with accretion projected from 2028 onwards. The company also anticipates that the acquisition will contribute to revenue growth starting in 2027, driven by improved robotic knee adoption in the U.S., increased market share through a broader product range, and the expansion of its industry-leading global knee offerings. The deal underscores the growing importance of artificial intelligence and robotics in transforming the landscape of modern orthopedic care, promising more precise and effective treatments for patients worldwide.
