Zimmer Biomet to Acquire Monogram Technologies

Zimmer Biomet and Monogram Technologies entered into a definitive agreement for Zimmer Biomet to acquire all outstanding shares of stock of Monogram for an upfront payment of $4.04/share in cash, corresponding to an equity value of approximately $177 million and an enterprise value of approximately $168 million.

The merger is anticipated to close later this year.

Monogram’s semi- and fully autonomous robotic technologies are expected to add new and differentiated capabilities to expand Zimmer Biomet’s ROSA Robotics platform and 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. Additionally, Monogram is developing a fully autonomous version of the technology with the potential to significantly increase safety, efficiency and outcomes, as well as additional applications beyond TKA.

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 proposed transaction expands Zimmer Biomet’s suite of orthopedic robotics, enabling solutions and analytics to address the needs of surgeons pre-, intra- and post-operatively. Zimmer Biomet’s portfolio features imageless robotics through its ROSA platform; a licensed CT-based handheld robot; mixed reality navigation; AI-based surgical navigation and a pathway to advanced semi- and fully autonomous robotics capabilities.

The deal aligns with Zimmer Biomet’s strategy to focus on the robotics segment while fielding a broad portfolio of technologies to drive surgeon adoption. Previous moves by the company included the acquisition of Orthogrid and a distribution deal with THINK Surgical.

The ROSA platform is rapidly approaching 2,000 installations worldwide and is a market leader outside of the United States. Zimmer Biomet is investing in a robust R&D pipeline featuring several new product and software applications expected between now and 2027. This includes ROSA Knee with OptimiZe, which has been submitted to FDA and 510(k) clearance is anticipated later this year, as well as ROSA Posterior Hip and the full commercial launch of ROSA Shoulder.

Zimmer Biomet expects the acquisition will contribute to revenue growth in 2027 and beyond by improving the company’s robotic knee adoption in the U.S., increasing share of wallet through reaching new customers with a broader product range and expanding the company’s industry-leading global knee offerings.

“Since our inception, we have been singularly focused on advancing orthopedic robotics with technology designed to safely, efficiently and accurately support surgeons with total knee arthroplasty,” said Benjamin Sexson, Chief Executive Officer of Monogram. “We are thrilled by the opportunity to add our technology to Zimmer Biomet’s leading portfolio of surgical robotics, navigation solutions and trusted implants and to benefit from their deep industry expertise and global scale.”

“Monogram’s technology is a major leap forward, demonstrating our commitment to becoming the boldest and broadest innovator in surgical robotics and navigation,” said Ivan Tornos, Chairman, President and Chief Executive Officer of Zimmer Biomet. “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. With Monogram’s proprietary technology, Zimmer Biomet has the potential to become the first company to deliver fully autonomous capabilities and redefine both the standard of care and the future of orthopedic surgery.”

Source: Zimmer Biomet